Ask Question
12 September, 11:48

Using the following information:

a. The bank statement balance is $4,709.

b. The cash account balance is $5,162.

c. Outstanding checks amounted to $624.

d. Deposits in transit are $1,035.

e. The bank service charge is $33.

f. A check for $60 for supplies was recorded as $51 in the ledger.

Required:

Prepare bank reconciliation for Miller Co. for August 31.

+5
Answers (1)
  1. 12 September, 11:51
    0
    Answer and Explanation:

    The preparation of the bank reconciliation statement for August 31 is presented below:

    Miller Co.

    Bank reconciliation statement

    August 31

    Particulars Amount Particulars Amount

    Bank cash balance $4,709 Company cash balance $5,162

    Add: Less:

    Deposits in transit $1,035 Bank service charges - $33

    Less: Outstanding Error in recording - $9

    Check - $624

    Bank balance Company balance

    After reconciliation $5,120 After reconciliation $5,120
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Using the following information: a. The bank statement balance is $4,709. b. The cash account balance is $5,162. c. Outstanding checks ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers