What is the meaning if education institution's receipt and payment statement shows same opening balance of bank as well as same closing balance of bank??
Eg
Opening 1000. Closing. 1000
8 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 24 January 2021
It shows that there is no transaction in bank statement.
NITESH JAIN
(13 Points)
Replied 24 January 2021
No transaction or may be same balance maintaining by institution.
if there is no transaction in recept and payment then same bal may appear..
if there is no transaction in recept and payment then same bal may appear..
sabyasachi mukherjee
(27644 Points)
Replied 24 January 2021
Sorry
not necessarily...
By chance the balance is like that.
not necessarily...
By chance the balance is like that.
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 24 January 2021
Then it is just a coincidence
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 24 January 2021
It will be based upon certain transactions
Adil Shaikh
(22 Points)
Replied 24 January 2021
Is it may be happened that, that bank account may be used by other branch of same institution??
Kapadia Pravin
(17264 Points)
Replied 24 January 2021
Transactions of receipts and payments are co-incidentaly same.
Adil Shaikh
(22 Points)
Replied 24 January 2021
In our clients case same is happened ( bank account used by other branch of same institution)
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