EXERCISE NUMBER 1Instruction: Prepare Leo Company’s Bank reconciliation at July 31. Sample Problem:Leo Company's check book lists the following:CheckNoDateItemsCheckDepositBalance7,8756,5909,3307,6855,8153,0651,69056517,565July 14.Cherry Blossoms Gift ShopP 1,28556222,7401314182628DividendsPLDT Co.Pilipinas ShellCashSt. Peter's ChurchBel Air ApartmentPaycheck1,6451,8702,7501,3751,125562356243625562656273017,000The July bank statement shows:P 7,8752,740BalanceAdd: DepositsDeduct checks: No.5622562356245625AmountP 1,2851,6451,970*2,750(7.650)Other charges:Printed checksService chargeP.90120(210)P 2,755BalanceThis is the correct amount of check number 5624.Instruction: Prepare Leo Company's bank reconciliation at July 31.

Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own…

Answered: Prepare Leo Company's bank…

Business

Accounting

Prepare Leo Company's bank reconciliation at July 31.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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