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 1 year ago

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