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On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,804. Cash receipts yet to be
On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,804. Cash receipts yet to be deposited into the checking account total $3,198, and checks written by the academy but not yet processed by the bank total $1,285. The company's balance of cash does not reflect a bank service fee of $21 and interest earned on the checking account of $32. These amounts are included in the balance of cash of $5,902 reported by the bank as of the end of August. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2021. (Amounts to be deducted should be indicated with a minus sign.) Bank's Cash Balance Per Bank Statement THE DEAN ACTING ACADEMY Bank Reconciliation August 31, 2021 Company's Cash Balance Per General Ledger Bark Balance per Reconciliation Company Balance per Reconciliation
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