Math  /  Data & Statistics

QuestionUsing the following information:
1. The bank statement balance is $4,690\$ 4,690.
2. The cash account balance is $5,080\$ 5,080.
3. Outstanding checks amounted to $715\$ 715.
4. Deposits in transit are $1,020\$ 1,020.
5. The bank service charge is $40\$ 40.
6. A check for $72\$ 72 for supplies was recorded as $27\$ 27 in the ledger.

Prepare a bank reconciliation for Miller Co. for August 31. Miller Co. Bank Reconcillation August 31 Cash balance according to bank statement $\$ \square \checkmark \square \square \square
Adjusted balance \square Cash balance according to company's records \square \square \qquad $\$ \square \ \square \squareAdjustedbalance$ Adjusted balance \$ \square$

Studdy Solution
Miller Co. Bank Reconciliation August 31
Cash balance according to bank statement: $4,690\$4,690 Add: Deposits in transit: $1,020\$1,020 Less: Outstanding checks: $715\$715 Adjusted balance: $4,995\$4,995
Cash balance according to company's records: $5,080\$5,080 Less: Bank service charge: $40\$40 Less: Error in recording check: $45\$45 Adjusted balance: $4,995\$4,995

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