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lianna [129]
3 years ago
7

A bank statement has a beginning balance of $5,491.56, total debits of $1,130.00, and an ending balance of $5,329.53. What is th

e difference between the beginning balance and the ending balanc
Social Studies
1 answer:
Darina [25.2K]3 years ago
4 0

The difference between the beginning balance and the ending balance is the Credit of $162.03

Explanation:

The beginning balance of a bank statement is $5491.56

Total debits are $1130. In real life banking, debits mean deductions. So $1130 will be the deductions or withdrawals made through the account.  

So Beginning balance less withdrawals or debits = $5491.56-1130= $4361.56

Now Ending balance is $5329.53. This means that some amount has been credited or deposited in the account which takes the balance from $4361.56 to $5329.53.

So this can be found out as follow:

$5329.53 - $4361.56 = $967.97.  

So the difference between the beginning and the ending balance is $5491.56-$5329.53=$162.03, which can also be calculated as:

1130-967.97=162.03 Dollars.  

Learn more about Financial Accounts:

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