Business, 14.07.2020 03:01, comeonmanim
The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: Cash balance according to the company's records at August 31, $17,350. Cash balance according to the bank statement at August 31, $18,340. Checks outstanding, $3,520. Deposit in transit, not recorded by bank, $2,830. A check for $590 in payment of an account was erroneously recorded in the check register as $950. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co. Bank Reconciliation August 31, 20Y6 Cash balance according to bank statement $ Adjustments: Total adjustments Adjusted balance $ Cash balance according to company's records $ Adjustments: $ Total adjustments Adjusted balance $ b. If the balance sheet were prepared for Creative Design Co. on August 31, 2016, what amount should be reported for cash? $ c. Must a bank reconciliation always balance (reconcile)?
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The following data were accumulated for use in reconciling the bank account of Creative Design Co. f...
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