Using the following information: The bank statement balance is $3,370. The cash account balance is $3,527....

Using the following information:

The bank statement balance is $3,370.
The cash account balance is $3,527.
Outstanding checks amounted to $578.
Deposits in transit are $632.
The bank service charge is $94.
A check for $44 for supplies was recorded as $35 in the ledger.

Prepare a bank reconciliation for Miller Co. for August 31.



Miller Co. Bank Reconciliation August 31
Cash balance according to bank statement		$
Adjustments:
Deposits in transit not recorded by bank	$
Outstanding checks
Total adjustments
Adjusted balance		$
Cash balance according to company's records		$
Adjustments:
Deposits in transit not recorded by bank	$
Error in recording
Total adjustments
Adjusted balance		$

Expert Solution




Miller Co.
Bank Reconciliation
Aug-31
Cash balance according to bank statement		3,370
Adjustments:
Deposits in transit not recorded by bank	632
Outstanding checks	(578)
Total adjustments		54
Adjusted balance		3,424
Cash balance according to company's records		3,527
Adjustments:
Bank Service Charge	(94)
Error in recording	(9)
Total adjustments		(103)
Adjusted balance		3,424

ekkarill92 answered 3 years ago

Using the following information: The bank statement balance is $2,764. The cash account balance is $3,005....

Using the following information: The bank statement balance is $2,764. The cash account balance is $3,005. Outstanding checks amounted to $647. Deposits in transit are $697. The bank service charge is $182. A check for $68 for supplies was recorded as $59 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co. Bank Reconciliation August 31 Cash balance according to bank statement$ Adjustments: $ Total adjustments Adjusted balance$ Cash balance according to company's records$ Adjustments:...

Note the following information related to a company’s cash account : Cash Balance per Bank Cash...

Note the following information related to a company’s cash account : Cash Balance per Bank Cash balancer per bank, 12/31/19 9,610 Check #6832 cleared the bank for $240, but erroneously recorded by company for $268 Outstanding checks 2,417 Deposit by ABC Inc erroneously recorded to the company by the bank 486 NSF check returned by bank 281 Cash balance per books, 12/31/19 7,430 December 2019 interest per bank 30 Check mailed to bank for a deposit that had not reached...

The cash account shows a balance of $85,000 before reconciliation. The bank statement does not

The cash account shows a balance of $85,000 before reconciliation. The bank statement does not include a deposit of $5,000 made on the last day of the month. The bank statement shows a collection by the bank of $2,400 and a customer’s check for $680 was returned because it was NSF. A customer’s check for $900 was recorded on the books as $1,080, and a check written for $138 was recorded as $183. The correct balance in the cash account...

7. The cash account shows a balance of $62,000 before reconciliation. The bank statement does not...

7. The cash account shows a balance of $62,000 before reconciliation. The bank statement does not include a deposit of $4,800 made on the last day of the month. The bank statement shows a collection by the bank of $1,500 and a customer's check for $635 was returned because it was NSF. A customer’s check for $580 was recorded on the books as $850, and a check written for $252 was recorded as $525. What is the correct balance in...

The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31, 2017.

The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance as of July 31, 2017. On July 31, the company’s Cash account has a $25,640 debit balance, but its July bank statement shows a $26,661 cash balance. Check No. 3031 for $1,000 and Check No. 3040 for $492 were outstanding on the June 30 bank reconciliation. Check No. 3040 is listed with the July canceled checks, but Check No....

The cash account shows a balance of IDR 450 million before reconciliation. The bank statement has...

The cash account shows a balance of IDR 450 million before reconciliation. The bank statement has not taken into account the IDR 23 million deposit made on the last day of the month concerned. The bank statement shows direct billing by the bank to customer A for IDR 9,400,000 and a check from customer B for IDR 3,200,000 returned as it is NSF. Checks from customer C for IDR 4,500,000 are recorded in the book worth IDR 5,400,000 and customer...

Delwood Furniture Company has provided the following information: Ending cash balance per bank statement is $14,862...

Delwood Furniture Company has provided the following information: Ending cash balance per bank statement is $14,862 Monthly bank service charge is $25 Deposits in transit at month-end are $1,218 Outstanding checks at month-end are $4,344 Customer's check returned-NSF is $174 What would be the cash balance per the company records, prior to recording any journal entries resulting from the bank reconciliation?

Prepare a balance sheet and cash flow statement using the selected financial statement information and additional...

Prepare a balance sheet and cash flow statement using the selected financial statement information and additional data for Stanislaus Co. presented below. Balance sheet December 31 2015 Cash.......................................................... $52,000 Accounts receivable (net)........................... 64,000 Inventory.................................................. 178,000 Land.......................................................... 78,800 Equipment................................................. 504,000 TOTAL............................................ $876,800 Accumulated depreciation.......................... $94,000 Accounts payable....................................... 50,400 Notes payable - short-term........................ 67,200 Notes payable - long-term.......................... 178,000 Common stock........................................... 420,000 Retained earnings...................................... 67,200 TOTAL............................................ $876,800 ...

Reconcile the account by adjusting both the balance from the bank statement and the checkbook balance...

Reconcile the account by adjusting both the balance from the bank statement and the checkbook balance to obtain the current balance. The current balance based on the statement balance is? The current balance based on the checkbook balance is? Check Register: Balance: $14563.87 Checks Outstanding Deposits not Recorded Number Amount Amount 223 $97.21 $67.88 225 $105.38 $282.42 227 $45.49 $1870.32 229 $1233.42 Bank Statement: Balance: $13838.86 Bank Charge: $8.38 Interest Credit: $22.49

On April 30, First Blade receives its bank statement. The bank statement balance of cash as...

On April 30, First Blade receives its bank statement. The bank statement balance of cash as of April 30 is $3,490. The company deposits its receipts in the bank and makes all payments by check. There is a $110 debit memo on the bank statement. This is for an NSF check written by one of the company’s customers, R. Jacobs for $100 plus a bank fee of $10. The April 29th deposit for $154 was recorded in the company’s cash...

Question