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Using the following information: a. The bank statement balance is $2,996. b. The cash account balance is $3,238. c. Outstanding checks amount to $695.
Using the following information: a. The bank statement balance is $2,996. b. The cash account balance is $3,238. c. Outstanding checks amount to $695. d. Deposits in transit are $788. e. The bank service charge is $140. f. A check for $36 for supplies was recorded as $27 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co. Bank Reconciliation August 31 Line Item Description Amount Amount < Cash balance according to bank statement 2,996 Add: Deposits in transit Deduct: Outstanding checks Adjusted balance Cash balance according to company's records Add: Bank service charge Deduct: Error in recording check 788 -695 3,089 3,238 140 -9 Total deductions Adjusted balance 100
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