Amount we put into in bank account, it always show in the credit side of bank statement. Why? As t bheank is receiving that amount it should be debit

Accounting

Question added by Ali Ejaz Butt , Sr. Accountant , Leather Safety Auto Cushions Indsutries
Date Posted: 2014/02/10

Upvote (0) Views (5) Followers (0) Answers (1) Report Question

Write an Answer
Register now or log in to answer.

1 Answers

by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

SIMPLY

Because the bank statement is a statement of account from the viewpoint of the accounts at the bank, when you put money be a creditor with amount of money .

Upvote (1)

Downvote Reply () Report

More Questions Like This

What differences have you noticed in the financial statements you have received from domestic vs. overseas customers?
Top Answer: this is not relevant with my experties See More

Answers (4)
When Capital is increased by an amount, it is recorded on the: ( Right or credit side of the account - Left or credit side of the account )
Top Answer: Left or credit side of the account See More

Answers (5)
If a debit entry is wrongly posted to credit side or vice versa then the difference amount will be :
Top Answer: <p>It will be double the amount of transaction. So, for the purpose to correct, the first entry is ... See More

Answers (7)
Have you got any short-cut method for reconcile bank account credits for the transactions in Pos where the volume of transactions are quite large?
Top Answer: <p>Point Of Sales - Normally use Credit machine attached with credit for transaction in POS i-e com ... See More

Answers (13)

Products By Bayt.com

Use Our Mobile App

Start networking and exchanging professional insights

Amount we put into in bank account, it always show in the credit side of bank statement. Why? As t bheank is receiving that amount it should be debit

Popular Searches

More Questions Like This