Question: a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co. Bank Reconciliation August 31, 2046 Cash balance according to bank

a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co. Bank Reconciliation August 31, 2046 Cash balance according to bank statement 26.950 Add: Deposit in transit on August 31 Deduct: Outstanding checks -5,590 Adjusted balance 27,850 Cash balance according to company's records 27.520 Add: Outstanding checks Deduct: Bank service charge Adjusted balance 27,850 360 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

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