On October 31, 2018, your company's records say that the company has $19,504.03 in its checking account. A review of the bank statement shows you have three outstanding checks totaling $8,157.81, and the bank has paid you interest of $23.69 and charged you $19.00 in service charges. The bank statement dated October 31, 2018 would report a balance of: (Round your answer to 2 decimal places.)

$27,666.53

Explanation:

The bank reconciliation is one done between the balance per the books and balance per the bank statement. This is usually as a result of transactions known as reconciling items.

Given that;

A review of the bank statement shows you have three outstanding checks totaling $8,157.81 -  It means that these checks have been deducted from the cash book but are yet to be recorded in the bank statement hence must be added to the book balance to get the bank statement balance.

The bank has paid you interest of $23.69 and charged you $19.00 in service charges - The interest will be added to while the charge will be deducted from the book balance to get the bank statement balance.

Hence, The bank statement dated October 31, 2018 would report a balance of

= $19,504.03 + $8,157.81 + $23.69 - $19.00

= $27,666.53

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