The trial balance as of December 31, 2015 of Maki Corp. has a Cash in bank balance of P80,000. The company received the bank statement for December. Deposit in transit at year-end is P15,000 and outstanding checks totaled P35,000. The bank statement showed and ending balance of P100,000. What is the correct Cash in Bank balance of the company at year-end?

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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.