- Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co.

[answerhappygod]

Bank Reconciliation The Following Data Were Accumulated For Use In Reconciling The Bank Account Of Creative Design Co 1 (23.75 KiB) Viewed 45 times

Bank Reconciliation The Following Data Were Accumulated For Use In Reconciling The Bank Account Of Creative Design Co 2 (23.56 KiB) Viewed 45 times

Bank Reconciliation The Following Data Were Accumulated For Use In Reconciling The Bank Account Of Creative Design Co 3 (34.65 KiB) Viewed 45 times

Bank Reconciliation The Following Data Were Accumulated For Use In Reconciling The Bank Account Of Creative Design Co 4 (34.65 KiB) Viewed 45 times

- Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 2016: 1. Cash balance according to the company's records at August 31, $20,870. 2. Cash balance according to the bank statement at August 31, $37,600. 3. Checks outstanding, $23,375. 4. Deposit in transit not recorded by bank, $7,500. 5. A check for $100 in payment of an account was erroneously recorded in the check register as $1,000. 6. Bank debit memo for service charges, $45. a. Prepare a bank reconciliation, Cash balance according to bank statement Adjustments: Deposit in transit not recorded by bank using the format shown in Exhibit 13. Creative Design Co. Bank Reconciliation August 31, 20Y6 ✓ Total adjustments Adjusted balance A Cash balance according to company's records Check My Work Adjustments: Error in recording check CV 7,500✔ 21,375 ✔ 300 ✓ 37,000 ✓✔ 15,875 ✔ 21,725 ✔ Provinc Next
Adjusted balance Cash balance according to company's records Adjustments: Error in recording check Bank service charge Total adjustments Adjusted balance Feedback Check My Work c. Must a bank reconciliation always balance (reconcile)? Yes Feedback 900 Check My Work 45 db 21,725 b. If the balance sheet were prepared for Creative Design Co. on August 31 what amount should be reported for cash? 855 21,725
Entries for Bank Reconciliation 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, $20,870. 2. Cash balance according to the bank statement at August 31, $37,600. 3. Checks outstanding, $23,375. 4. Deposit in transit not recorded by bank, $7,500. 5. A check for $100 in payment of an account was erroneously recorded in the check register as $1,000. 6. Bank debit memo for service charges, $45. Journalize the entries that should be made by the company that (a) increase cash and (b) decrease cash. a. 20Y6 Aug. 31 Cash X b. Aug. 31 Feedback Accounts Payable Miscellaneous Expense Cash Check My Work Keep in mind that the company needs to journalize any adjusting items in the company section of the bank reconciliation, be previously recorded by the company. Debit memo items like bank service charges decrease Cash. If the company made an e company section, the journal adjustment would increase Cash. Learning Objective 5.