Using the following information:The bank statement balance is $4,690.The cash account balance is $5,080.Outstanding checks amounted to $715.Deposits in transit are $1,020.The bank service charge is $40.A check for $72 for supplies was recorded as $27 in the ledger.Prepare a bank reconciliation for Miller Co. for August 31. Miller Co.Bank ReconciliationAugust 31Cash balance according to bank statement $fill in the blank 1Adjustments: Deposits in transit not recorded by bank $fill in the blank 3 Outstanding checks fill in the blank 5 Total adjustments fill in the blank 6Adjusted balance $fill in the blank 7Cash balance according to company's records $fill in the blank 8Adjustments: $fill in the blank 10 fill in the blank 12 Total adjustments fill in the blank 13Adjusted balance $fill in the blank 14

Bank reconciliation statement is prepared by almost every organization at a particular time. It is a…

Answered: Using the following information: The…

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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Using the following information:

The bank statement balance is $4,690.
The cash account balance is $5,080.
Outstanding checks amounted to $715.
Deposits in transit are $1,020.
The bank service charge is $40.
A check for $72 for supplies was recorded as $27 in the ledger.

Prepare a bank reconciliation for Miller Co. for August 31.



Miller Co. Bank Reconciliation August 31
Cash balance according to bank statement		$fill in the blank 1
Adjustments:
Deposits in transit not recorded by bank	$fill in the blank 3
Outstanding checks	fill in the blank 5
Total adjustments		fill in the blank 6
Adjusted balance		$fill in the blank 7
Cash balance according to company's records		$fill in the blank 8
Adjustments:
	$fill in the blank 10
	fill in the blank 12
Total adjustments		fill in the blank 13
Adjusted balance		$fill in the blank 14

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