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Instructions 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, $21,131. 2. 3. 4 Cash balance according to the bank statement at August 31, $27,606. Checks outstanding, $13,321. Deposit in transit, not recorded by bank, 57,293. A check for $51 in payment of an account was erroneously recorded in the check register as $510 Bank debit memo for service charges, $12. 5. 6. A. Prepare bank reconciliation, using the format shown in Exhibit 13. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. B. If the balance sheet were prepared for Creative Design Co. on August 31 what amount should be reported for cash? C. Must a bank reconciliation always balance (reconcile)? a

A. Prepare bank reconciliation, using the format shown in Exhibit 13. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign Creative Design Co. Bank Reconciliation August 31, 20Y6 1 Cash balance according to bank statement 2 Adjustments: 3 4 5 6 7 8 Cash balance according to company's records 9 Adjustments: 10 11 12 13

B. If the balance sheet were prepared for Creative Design Co. on August 31 what amount should be reported for cash? C. Must a bank reconciliation always balance (reconcile)? No Yes

The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: 1. 2. 3. Cash balance according to the company's records at August 31, $21,131. Cash balance according to the bank statement at August 31, $27,606. Checks outstanding, $13,321. Deposit in transit, not recorded by bank, 57,293. A check for $51 in payment of an account was erroneously recorded in the check register as 5510 Bank debit memo for service charges, $12. 4. 5. . 6. Journalize the entry or entries that should be made by the company. Refer to the Chart of Accounts for exact wording of account titles.

Journalize the entry or entries that should be made by the company. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3