Bank reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 2016: 1. Cash balance according to the company's records at August 31, $18,000. 2. Cash balance according to the bank statement at August 31, $19,030. 3. Checks outstanding, $3,650. 4. Deposit in transit not recorded by bank, $2,930. 5. A check for $590 in payment of an account was erroneously recorded in the check register as $950. 6. Bank debit memo for service charges, $50. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co. Bank Reconciliation August 31, 2016 Cash balance according to bank statement Adjusted balance Cash balance according to company's records Adjusted balance b. if the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash? Must a bank reconciliation always balance (reconcile)? Now me HOW Ulice 365 Using bank reconciliation to determine cash receipts stolen Alaska Impressions Co. records all cash receipts on the basis of its cash register tapes. Alaska Impressions discovered during October 2013 that one of its sales clerks had stolen an undetermined amount of cash receipts by taking the daily deposits to the bank. The following data have been gathered for October: Cash in bank according to the general ledger $12,600 Cash according to the October 21, 2013, bank statement 13,970 Outstanding checks as of October 31, 2013 Bank service charge for October 4,560 50 Note receivable, including Interest collected by bank in October 2,200 No deposits were in transit on October 31. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Determine the amount of cash receipts stolen by the sales clerk. b. What accounting controls would have prevented or detected this theft