Leonardo Miranda’s bank statement on October 31 showed a balance of ₱26,091.20. His checkbook showed a balance of ₱23,305.70. He noticed checks #30 for ₱1,168 and #34 for ₱1,628.50 were outstanding, there was also a service charge of ₱11. Reconcile the balance.

Leonardo Miranda’s bank statement on October 31 showed a balance of ₱26,091.20. His checkbook showed a balance of ₱23,305.70. He noticed checks #30 for ₱1,168 and #34 for ₱1,628.50 were outstanding, there was also a service charge of ₱11. Reconcile the balance.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter8: Budgets And Bank Reconciliations

Section: Chapter Questions

Problem 4.5C

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

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5. Leonardo Miranda’s bank statement on October 31 showed a balance of ₱26,091.20. His checkbook showed a balance of ₱23,305.70. He noticed checks #30 for ₱1,168 and #34 for ₱1,628.50 were outstanding, there was also a service charge of ₱11. Reconcile the balance.

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