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, $42,920. Cash balance according to the bank statement at August 31, $56,300. Checks outstanding, $25,390. Deposit in transit not recorded by bank, $13,325. A check for $150 in payment of an account was erroneously recorded in the check register as $1,500. Bank debit memo for service charges, $35. Question Content Area a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co.Bank ReconciliationAugust 31, 20Y6 Cash balance according to bank statement blank $fill in the blank 0ff66e00407e061_1 - Select - blank - Select - Adjusted balance blank $fill in the blank 0ff66e00407e061_6 Cash balance according to company's records blank $fill in the blank 0ff66e00407e061_7 blank - Select - blank - Select - Adjusted balance blank $fill in the blank 0ff66e00407e061_12 Question Content Area b. If the balance sheet were prepared for Creative Design Co. on August 31
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, $42,920. Cash balance according to the bank statement at August 31, $56,300. Checks outstanding, $25,390. Deposit in transit not recorded by bank, $13,325. A check for $150 in payment of an account was erroneously recorded in the check register as $1,500. Bank debit memo for service charges, $35. Question Content Area a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co.Bank ReconciliationAugust 31, 20Y6 Cash balance according to bank statement blank $fill in the blank 0ff66e00407e061_1 - Select - blank - Select - Adjusted balance blank $fill in the blank 0ff66e00407e061_6 Cash balance according to company's records blank $fill in the blank 0ff66e00407e061_7 blank - Select - blank - Select - Adjusted balance blank $fill in the blank 0ff66e00407e061_12 Question Content Area b. If the balance sheet were prepared for Creative Design Co. on August 31
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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, $42,920.
- Cash balance according to the bank statement at August 31, $56,300.
- Checks outstanding, $25,390.
- Deposit in transit not recorded by bank, $13,325.
- A check for $150 in payment of an account was erroneously recorded in the check register as $1,500.
- Bank debit memo for service charges, $35.
Question Content Area
a. Prepare a bank reconciliation, using the format shown in Exhibit 13.
| Cash balance according to bank statement | blank | $fill in the blank 0ff66e00407e061_1 |
|
|
- Select - | |
|
|
blank | - Select - |
| Adjusted balance | blank | $fill in the blank 0ff66e00407e061_6 |
| Cash balance according to company's records | blank | $fill in the blank 0ff66e00407e061_7 |
|
|
blank | - Select - |
|
|
blank | - Select - |
| Adjusted balance | blank | $fill in the blank 0ff66e00407e061_12 |
Question Content Area
b. If the balance sheet were prepared for Creative Design Co. on August 31
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