Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

am i correct? how do i do the the cash balance according to company records? also after total adjustments it says adjusted balance a. The

am i correct? how do i do the the cash balance according to company records?
also after total adjustments it says adjusted balance
image text in transcribed
a. The bank statement balance is $3,145. b. The cash account balance is $3,414. c. Outstanding checks amounted to $768. d. Deposits in transit are $855. e. The bank service charge is $173. f. A check for $61 for supplies was recorded as $52 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. $ 3,145 Miller Co. Bank Reconciliation August 31 Cash balance according to bank statement Adjustments: Deposits in transit not recorded by bank Outstanding checks $ 855 -768 87 Total adjustments $ 3,232 Adjusted balance Cash balance according to company's records Adjustments: Bank service charge 173 9 Error in recording 182 Total adjustments

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Industrial Organizational Psychology An Applied Approach

Authors: Michael Aamodt

7th Edition

1111839972, 9781111839970

More Books

Students also viewed these Accounting questions

Question

consider how quantitative data can contribute to your research;

Answered: 1 week ago

Question

draw appropriate conclusions based on your data.

Answered: 1 week ago

Question

make sense of basic terminology used in quantitative data analysis;

Answered: 1 week ago