Business, 17.06.2021 21:20 robertss403

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, $19,140.
Cash balance according to the bank statement at August 31, $19,950.
Checks outstanding, $3,890.
Deposit in transit not recorded by bank, $3,120. A check for $340 in payment of an account was erroneously recorded in the check register as $430. Bank debit memo for service charges, $50.

Required:
a. Prepare a bank reconciliation.
b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash?

Answers: 1

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