Question

Using the following information:

1. The bank statement balance is $4,690.
2. The cash account balance is $5,080.
3. Outstanding checks amounted to $715.
4. Deposits in transit are $1,020.
5. The bank service charge is $40.
6. A check for $72 for supplies was recorded as $27 in the ledger.

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

Miller Co.
Bank Reconciliation
August 31
Cash balance according to bank statement		$
Add deposits in transit not recorded by bank
		$
Deduct outstanding checks
Adjusted balance		$
Cash balance according to company's records		$
Deduct bank service charge	$
Deduct outstanding checks
Adjusted balance		$

Answer 1

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