If the balance sheet were prepared for creative design corporation on August 31, what amount should be reported for cash?Must a bank reconciliations always balance?

Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20%: 1. Cash balance according to the company's records at August 31, $42,920. 2. Cash balance according to the bank statement at August 31, $55,300. 3. Checks outstanding, $25,390. 4. Deposit in transit not recorded by bank, $13,325. 5. A check for $150 in payment of an account was erroneously recorded in the check register as $1,500. 6. Bank debit memo for service charges, $35. a. Prepare a bank reconciliation, using the Format shown in Exhibit 13. Creative Design Co. Bank Reconciliation August 31, ZOYG I Cash balance according to bank statement Add: Deposit in transit on August 31 _._._..__________ Deduct: Outstanding checks Adjusted balance Cash balance according to company's records v V "EMBEDDED Adjusted baiance