Using the following information: a. The bank statement balance is $3,648. b. The

Question

Using the following information: a. The bank statement balance is $3,648. b. The cash account balance is $3,897 c.Outstanding checks amounted to $673. d. Deposits in transit are $743. e. The bank service charge is $170 f. A check for $55 for supplies was recorded as $46 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 Total adjustments Adjusted balance Cash balance according to company's records Adjustments Total adjustments

Explanation / Answer

Miller Co.

Bank Reconciliation

August 31

Cash balance according to bank statement $3,648 Adjustments: Deposits in transit not recorded by bank $743 Outstanding checks ($673) Total adjustments $70 Adjusted balance $3,718 Cash balance according to company’s records $3,897 Adjustments: Bank service charge ($170) Error in recording ($9) Total adjustments ($179) Adjusted balance $3,718

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