Question

Chapter 7 Homework 1 ಆdark Show Me How Calculator 1. EX DT 12 Bank Reconciliation 2 LX DT 16 3 FX DT 17 The following dala were accumulated for use in reconciling the terk account of Creative Design Color August 2015: 1. Cash balance according to the company's records at August 31, $42.920. 2. Cash balance according to the bank statement at August 31, $56,300. 3. Checks outstanding, $25.390. 4. Deposit in transit not recorded by bank. $13,325 5. A check for $150 in payment of an account was erroneously recorded in the check register as $1,500. 6. Bank debit memo for service charges. $35 4 EX DT 18 5. EX 07 21 6 EX D722 J. Prepare a bank reconciliation using the formal shown in Exibil 13. Creative Design Co. Hank Recualian August 31, 20YG Cach balance according to bank statement 7. PR 07,038 B PHOTOS Adjusted balance Cech balance according to company's records b. It the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported tor cash c. Must a bank reconciliation always balance (reconcic)? Check Ny Work Previous Next > Progress: 4/8 items Assignment Score 5.27 Aluksul Emall Instructor Save and Exit Submit Assignment for Grading

Answer 1

Bank Reconciliation statement -Cratve Design
Balance as per bank statement	$56,300.00
Adjustment
Add: Deposits in transit	$13,325.00
Less: Outstanding checks	-$25,390.00
Adjusted balance as per bank	$44,235.00
Balance as per books	$42,920.00
Adjustemnt
Less: Bank service charges	-$35.00
Add Error in recording check(1500-150)	$1,350.00
Adjusted balance as per books	$44,235.00

Partb: the Amount cash should be reported : $44235

Part-c: Yes