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, $17,740. Cash balance according to the bank statement at August 31, $18,960. Checks outstanding, $3,600. Deposit in transit not recorded by bank, $2,890. A check for $170 in payment of an account was erroneously recorded in the check register as $710. Bank debit memo for service charges, $30. Question Content Area a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co.Bank ReconciliationAugust 31, 20Y6 Line Item Description Amount Cash balance according to bank statement $Cash balance according to bank statement - Select - - Select - Adjusted balance $Adjusted balance Cash balance according to company's records $Cash balance according to company's records - Select - - Select - Adjusted balance $Adjusted balance Question Content Area b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash?fill in the blank 1 of 1$
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, $17,740. Cash balance according to the bank statement at August 31, $18,960. Checks outstanding, $3,600. Deposit in transit not recorded by bank, $2,890. A check for $170 in payment of an account was erroneously recorded in the check register as $710. Bank debit memo for service charges, $30. Question Content Area a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co.Bank ReconciliationAugust 31, 20Y6 Line Item Description Amount Cash balance according to bank statement $Cash balance according to bank statement - Select - - Select - Adjusted balance $Adjusted balance Cash balance according to company's records $Cash balance according to company's records - Select - - Select - Adjusted balance $Adjusted balance Question Content Area b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash?fill in the blank 1 of 1$
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
Related questions
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, $17,740.
- Cash balance according to the bank statement at August 31, $18,960.
- Checks outstanding, $3,600.
- Deposit in transit not recorded by bank, $2,890.
- A check for $170 in payment of an account was erroneously recorded in the check register as $710.
- Bank debit memo for service charges, $30.
Question Content Area
a. Prepare a bank reconciliation, using the format shown in Exhibit 13.
| Line Item Description | Amount |
|---|---|
| Cash balance according to bank statement | $Cash balance according to bank statement |
|
|
- Select - |
|
|
- Select - |
| Adjusted balance | $Adjusted balance |
| Cash balance according to company's records | $Cash balance according to company's records |
|
|
- Select - |
|
|
- Select - |
| Adjusted balance | $Adjusted balance |
Question Content Area
b. If the
fill in the blank 1 of 1$
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