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A bank statement is shown below. Work out the missing balance. Date & Description & Money in & Money out & Balance multicolumn(5)(|c|)( Previous balance ) & £ 140.00 10 August & Salary - CT retail & £ 1000.00 & & £ 1140.00 19 August & Rent & & £ 250.00 & £ 890.00 25 August & Electricity & & £ 90.00 & £ 800.00 31 August & Water & & £ 30.00 & £

Question

A bank statement is shown below. Work out the missing balance.

 Date & Description & Money in & Money out & Balance 
 multicolumn(5)(|c|)( Previous balance ) & £ 140.00 
 10 August & Salary - CT retail & £ 1000.00 & & £ 1140.00 
 19 August & Rent & & £ 250.00 & £ 890.00 
 25 August & Electricity & & £ 90.00 & £ 800.00 
 31 August & Water & & £ 30.00 & £

A bank statement is shown below. Work out the missing balance. Date & Description & Money in & Money out & Balance multicolumn(5)(|c|)( Previous balance ) & £ 140.00 10 August & Salary - CT retail & £ 1000.00 & & £ 1140.00 19 August & Rent & & £ 250.00 & £ 890.00 25 August & Electricity & & £ 90.00 & £ 800.00 31 August & Water & & £ 30.00 & £

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DeirdreMaster · Tutor for 5 years

Answer

£ 770.00<br />From our calculations, we can say that the missing balance on August 31 after paying the water bill amounts to £ 770.00.

Explain

## Step 1: Identify the Information needed:<br />From the problem, We can see that the missing balance after the water bill payment is being asked. To solve this question, we need first to identify the balance prior to the last transaction, and then the amount spent/withdrawed from the account.<br /><br />## Step 2: Retrieving the needed information:<br />By checking through the table data, we can see that the previous balance was \( £ 800.00 \) and the amount that went "out" at the time the data goes missing is \( £ 30.00 \) .<br /><br />## Step 3: Subtracting the amount received from the original balance:<br />Once we have both the wanted amounts, the calculation becomes straightforward.<br />### \[ Balance = Previous Balance - Money Out \]<br /><br />Implementing the values on to the formula:<br />### \[ Balance = £800.00 - £30.00 \]
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