Question: Question Content Area Using the following information: The bank statement balance is $3,904. The cash account balance is $3,909. Outstanding checks amount to $710. Deposits

Question Content Area

Using the following information:

  1. The bank statement balance is $3,904.
  2. The cash account balance is $3,909.
  3. Outstanding checks amount to $710.
  4. Deposits in transit are $651.
  5. The bank service charge is $55.
  6. A check for $36 for supplies was recorded as $27 in the ledger.

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

Line Item Description Amount Amount
Cash balance according to bank statement $Cash balance according to bank statement
Add: Bank service chargeAdd: Deposits in transitAdd: Error in recording checkDeduct: Bank service chargeDeduct: Deposits in transit - Select -
Add: Bank service chargeAdd: Error in recording checkAdd: Outstanding checksDeduct: Bank service chargeDeduct: Outstanding checks - Select -
Adjusted balance $Adjusted balance
Cash balance according to company's records $Cash balance according to company's records
Add: Bank service chargeAdd: Deposits in transitAdd: Outstanding checksDeduct: Bank service chargeDeduct: Deposits in transit $- Select -
Add: Deposits in transitAdd: Error in recording checkAdd: Outstanding checksDeduct: Error in recording checkDeduct: Outstanding checks - Select -
Total deductions Total deductions
Adjusted balance $Adjusted balance

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