# Reconciliation Statement

• Jan 1st 2010, 05:49 PM
smallvinfhungkuru
Reconciliation Statement
I have here a problem...

Niņo Martinez's checkbook at the end of February showed a balance of P24,671. An examination of the bank statement showed that a deposit of P375.35 had been entered on the stub; that check #56 for 516.70 had been entered on the stub as 518.90; and that check #60 for P2,300 was entered twice on the stub. Find the correct checkbook balance.
• Jan 1st 2010, 06:34 PM
Wilmer
define "stub"
• Jan 1st 2010, 06:37 PM
smallvinfhungkuru
stub
stub is the one left when you issue a check...it is like your own record of the checks you issued...
• Jan 1st 2010, 06:40 PM
Wilmer
Quote:

Originally Posted by smallvinfhungkuru
stub is the one left when you issue a check...it is like your own record of the checks you issued...

Well, how is this possible then:
"An examination of the bank statement showed that a deposit of P375.35 had been entered on the stub; that check #56 for 516."

And why do you include a "P"; like P375.35 ?
• Jan 2nd 2010, 08:14 AM
aidan
Quote:

Originally Posted by smallvinfhungkuru
I have here a problem...

Niņo Martinez's checkbook at the end of February showed a balance of P24,671. An examination of the bank statement showed that a deposit of P375.35 had been entered on the stub; that check #56 for 516.70 had been entered on the stub as 518.90; and that check #60 for P2,300 was entered twice on the stub. Find the correct checkbook balance.

How Martinez does the math is irrelevant.
That is, it does not matter what her checkbook says she has.

Code:

``` P24,671.00 February balance P  375.35 deposit   -516.70 check #56       0.00 ?check #57       0.00 ?check #58       0.00 ?check #59 P-2,300.00 check #60 ==================```
Some checks are missing.
The correct checkbook balance AFTER check #56 and BEFORE check #57 is
24671.00+375.25-516.70 = 24529.65

It makes no sense to speculate the value of the missing checks.
Does the 'P' stand for "peso"?

.
• Jan 3rd 2010, 12:18 AM
smallvinfhungkuru
Quote:

Originally Posted by Wilmer
Well, how is this possible then:
"An examination of the bank statement showed that a deposit of P375.35 had been entered on the stub; that check #56 for 516."

And why do you include a "P"; like P375.35 ?

I'm from Philippines that's why I used "P" for "Peso"...
• Jan 3rd 2010, 12:26 AM
smallvinfhungkuru
Quote:

Originally Posted by aidan
How Martinez does the math is irrelevant.
That is, it does not matter what her checkbook says she has.

Code:

``` P24,671.00 February balance P  375.35 deposit   -516.70 check #56       0.00 ?check #57       0.00 ?check #58       0.00 ?check #59 P-2,300.00 check #60 ==================```
Some checks are missing.
The correct checkbook balance AFTER check #56 and BEFORE check #57 is
24671.00+375.25-516.70 = 24529.65

It makes no sense to speculate the value of the missing checks.
Does the 'P' stand for "peso"?

.

There are no missing checks...this reconciliation statement is like the adjustments in accounting...we adjust the amount left in the checkbook with the given information...

yes sir, "P" is for Peso...