Instructions Amount Descriptions Bank Reconciliation Final Questions Instructions 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, $20,014. 2. Cash balance according to the bank statement at August 31, $28,514. 3. Checks outstanding, $14,232. 4. Deposit in transit, not recorded by bank, $6,214. 5. A check for $55 in payment of an account was erroneously recorded in the check register as $550. 6. Bank debit memo for service charges, $13. Instructions Amount Descriptions Amount Descriptions Bank Recon Amount Descriptions Adjusted balance Bank service charge Bank error in charging check as $55 instead of $550 Bank error in charging check as $550 instead of $55 Deposit in transit, not recorded by bank Error in recording check as $55 instead of $550 Error in recording check as $550 instead of $55 Outstanding checks Total adjustments Instructions Amount Descriptions Bank Reconciliation Final Questions Bank Reconciliation A. Prepare a bank reconciliation, using the format shown in Exhibit 13. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign Creative Design Co. Bank Reconciliation August 31, 20Y6 1 Cash balance according to bank statement 2 Adjustments: 3 5 6 7 Cash balance according to company's records Adjustments: 10 11 12 13 A. Final Questions he B. If the balance sheet were prepared for Creative Design Co. on August 31 what amount should be reported for cash? $ C. Must a bank reconciliation always balance (reconcile)? O No 1 Yes