Prepare Leo Company's bank reconciliation at July 31.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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EXERCISE NUMBER 1
Instruction: Prepare Leo Company’s Bank reconciliation at July 31.

Transcribed Image Text:Sample Problem:
Leo Company's check book lists the following:
Check
No
Date
Items
Check
Deposit
Balance
7,875
6,590
9,330
7,685
5,815
3,065
1,690
565
17,565
July 1
4.
Cherry Blossoms Gift Shop
P 1,285
5622
2,740
13
14
18
26
28
Dividends
PLDT Co.
Pilipinas Shell
Cash
St. Peter's Church
Bel Air Apartment
Paycheck
1,645
1,870
2,750
1,375
1,125
5623
5624
3625
5626
5627
30
17,000
The July bank statement shows:
P 7,875
2,740
Balance
Add: Deposits
Deduct checks: No.
5622
5623
5624
5625
Amount
P 1,285
1,645
1,970*
2,750
(7.650)
Other charges:
Printed checks
Service charge
P.
90
120
(210)
P 2,755
Balance
This is the correct amount of check number 5624.
Instruction: Prepare Leo Company's bank reconciliation at July 31.
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