Bank reconciliation Instructions Amount Descriptions Bank Reconciliation Final Question = Instructions The following data were accumulated for use in reconciling the bank account of Creative Design Co for August 20Y6 1 2 3 Cash balance according to the company's records at August 31, 518,257 Cash balance according to the bank statement at August 31, 527 261 Checks outstanding, 514,624 Deposit in transit not recorded by bank 56,131 A check for $58 in payment of an account was erroneously recorded in the check register as 5580 Bank debit memo for service charges, S11 4 5 6 A. Prepare a bank reconciliation, using the format shown in Exhibit 13 Refer to the amount Description is 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 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)? Amount Descriptions x Th Co. for Aug Amount Descriptions Adjusted balance Bank service charge Bank error in charging check as $58 instead of $580 Bank error in charging check as $580 instead of $58 gister as 55 Deposit in transit, not recorded by bank Error in recording check as $58 instead of $580 Error in recording check as $580 instead of $58 Outstanding checks Total adjustments It Descriptio ed or negati should be re 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, 2016 I Cash balance according to bank statement ? Adjustments: 1 3 6 Cath balance arredinnt manis racons Bank reconciliation Instructions Amount Descriptions Bank Reconciliation Final Questions III Bank Reconciliation : Cash balance according to bank statement 2 Adjustments: 2 5 Cash balance according to company's records Adjustments: 10 13 11 10 3 B. If the balance sheet were prepared for Creative Design Co. on August 31 what amount should be reported for cash? $ 5 C. Must a bank reconciliation always balance (reconcile)? Yes No 10