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Amount Descriptions Adjusted balance Bank service charge Bank error in charging check as $42 instead of $420 Bank error in charging check as $420 instead
Amount Descriptions Adjusted balance Bank service charge Bank error in charging check as $42 instead of $420 Bank error in charging check as $420 instead of $42 Deposit in transit, not recorded by bank Error in recording check as $42 instead of $420 Error in recording check as $420 instead of $42 Outstanding checks Total adjustments August 31, 20Y6 $29,187.00 1 Cash balance according to bank statement 2 Adjustments: 3 Deposit in transit, not recorded by bank 4 Outstanding checks 5 Total adjustments $13,346.00 7,087.00 6 Adjusted balance 7 8 Cash balance according to company's records 9 Adjustments: 10 Error in recording check as $420 instead of $42 Bank service charge 11 12 13 The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: B. If the balance sheet were prepared for Creative Design Co. on August 31 what amount should be reported for cash? 1. Cash balance according to the company's records at August 31, $22,569. Points: 0/1 2. Cash balance according to the bank statement at August 31, $29,187. 3. C. Must a bank reconciliation always balance (reconcile)? Checks outstanding, $13,346. Deposit in transit, not recorded by bank, $7,087. 4. A check for $42 in payment of an account was erroneously recorded in the check register as $420. Yes 6. Bank debit memo for service charges, $19. Points: 1/1
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