If for August 20Y6: Cash balance according to the company’s records at August 31, $42,920. Cash balance according to the bank statement at August 31, $56,300. The bank reconciliation statement will be:
- Adjusted bank balance $44,235
- Adjusted cash balance $44,235
Creative Design Co. Bank Reconciliation
August 31, 20Y6
Cash balance according to bank statement $56,300
Add deposit in transit $13,325
Less outstanding checks ($25,390)
Adjusted bank balance $44,235
Cash balance according to company's records $42,920
Add error in banking recording check as $1,500 instead of $150 $1,350
Less Bank charges ($36)
Adjusted cash balance $44,235
Inconclusion if for August 20Y6: Cash balance according to the company’s records at August 31, $42,920. Cash balance according to the bank statement at August 31, $56,300. The bank reconciliation statement will be:
- Adjusted bank balance $44,235
- Adjusted cash balance $44,235
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