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, $17,740. Cash balance according to the bank statement at August 31, $18,960. Checks outstanding, $3,600. Deposit in transit not recorded by bank, $2,890. A check for $170 in payment of an account was erroneously recorded in the check register as $710. Bank debit memo for service charges, $30. Question Content Area a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co.Bank ReconciliationAugust 31, 20Y6 Line Item Description Amount Cash balance according to bank statement $Cash balance according to bank statement - Select - - Select - Adjusted balance $Adjusted balance Cash balance according to company's records $Cash balance according to company's records - Select - - Select - Adjusted balance $Adjusted balance Question Content Area b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash?fill in the blank 1 of 1$
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, $17,740. Cash balance according to the bank statement at August 31, $18,960. Checks outstanding, $3,600. Deposit in transit not recorded by bank, $2,890. A check for $170 in payment of an account was erroneously recorded in the check register as $710. Bank debit memo for service charges, $30. Question Content Area a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co.Bank ReconciliationAugust 31, 20Y6 Line Item Description Amount Cash balance according to bank statement $Cash balance according to bank statement - Select - - Select - Adjusted balance $Adjusted balance Cash balance according to company's records $Cash balance according to company's records - Select - - Select - Adjusted balance $Adjusted balance Question Content Area b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash?fill in the blank 1 of 1$
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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, $17,740.
- Cash balance according to the bank statement at August 31, $18,960.
- Checks outstanding, $3,600.
- Deposit in transit not recorded by bank, $2,890.
- A check for $170 in payment of an account was erroneously recorded in the check register as $710.
- Bank debit memo for service charges, $30.
Question Content Area
a. Prepare a bank reconciliation, using the format shown in Exhibit 13.
| Line Item Description | Amount |
|---|---|
| Cash balance according to bank statement | $Cash balance according to bank statement |
|
|
- Select - |
|
|
- Select - |
| Adjusted balance | $Adjusted balance |
| Cash balance according to company's records | $Cash balance according to company's records |
|
|
- Select - |
|
|
- Select - |
| Adjusted balance | $Adjusted balance |
Question Content Area
b. If the
fill in the blank 1 of 1$
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education