The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: 1. Cash balance according to the company's records at August 31, $14,820. 2. Cash balance according to the bank statement at August 31, $15,450. 3. Checks outstanding, $3,010. 4. Deposit in transit, not recorded by bank, $2,420. 5. A check for $340 in payment of an account was erroneously recorded in the check register as $430. 6. Bank debit memo for service charges, $50. a. Prepare a bank reconciliation, using the format shown in Exhibit 13.

The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: 1. Cash balance according to the company's records at August 31, $14,820. 2. Cash balance according to the bank statement at August 31, $15,450. 3. Checks outstanding, $3,010. 4. Deposit in transit, not recorded by bank, $2,420. 5. A check for $340 in payment of an account was erroneously recorded in the check register as $430. 6. Bank debit memo for service charges, $50. a. Prepare a bank reconciliation, using the format shown in Exhibit 13.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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