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10 February, 04:53

Using the following information: The bank statement balance is $3,480. The cash account balance is $3,535. Outstanding checks amounted to $796. Deposits in transit are $729. The bank service charge is $113. A check for $40 for supplies was recorded as $31 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31.

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  1. 10 February, 08:39
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    Preparation of bank reconciliation is shown Below:-

    Explanation:

    Miller co.

    Bank Reconciliation

    Aug-31

    Cash Balance according to bank statement $3,480

    Add: Deposits in transit not recorded by bank $729

    Balance $4209

    Less: Outstanding checks $796

    Adjusted balance $3,413

    Cash Balance according to company's records $3,535

    Less: Bank service charge $113

    Error in recording $9 $122

    Adjusted balance $3,413
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