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Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
FindFindarrow_forward

Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
Chapter 8, Problem 11PB
Textbook Problem
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Leann Company received the following bank statement. Using the information from PB11 and PB12, prepare the bank reconciliation.

Chapter 8, Problem 11PB, Leann Company received the following bank statement. Using the information from PB11 and PB12,

To determine

Concept introduction:

Bank Reconciliation:

Bank reconciliation is the process in which the entity reconciles its cash entries in accounts with the entries in bank statement issued by the bank. The entity prepares bank reconciliation statement and it has two sides; Bank Side and Cash side.

To prepare:

The Bank Reconciliation Statement.

Explanation of Solution

The Bank Reconciliation Statement is prepared as follows:

Bank Reconciliation Statement
Bank SideBook Side
Balance as per Bank statement $ 6,988 Balance as per Cash Book $ 6,626
Add: Add:
Deposit in...

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Chapter 8 Solutions

Principles of Accounting Volume 1
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