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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