Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative...

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Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for Au

b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash G. Must b

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Answer 1

Answer #1

Requirement a
Cash balance according to bank statement	23,920
Checks outstanding	-4,610
Deposit in transit, not recorded by bank	3,700
Adjusted balance	23,010

Cash balance according to company's records	22,700
Erroneously recorded in check register (840-480)	360
Bank debit memo for service charges	-50
Adjusted balance	23,010

Requirement b
$ 23,010

Requirement c
Yes

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Answer 2

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