Bookmarks People Window Help 49%:4) Sun 5:26PM a . CengageNowv21 Onine teaching

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Bookmarks People Window Help 49%:4) Sun 5:26PM a . CengageNowv21 Onine teaching and learning resource from Cengage Learning Sessionlocator assignment-take&inprogress; faise Show Me How Entries fer bank reconciliation The following data were accumelated for use in reconciling the bank account of Creative Design Co. for August 20Y6 I. Cash balance accoeding to the company's records at August 31, $24,403 Cash balance according to the bank Matement at August 31,$31 504. Checks outstanding,513,345 2. 4. Deposit in transit, not recorded by bank, S6,727 5. A check for 555 in payment of an account was eroncously recorded in the check register as 5550 6. Bank debit memo for service charges, S12 Joarnalice the entry or entries thot shoald be oade by the company. Refer to the Chart of Accounts for exact wordling of account tanles. CHART OF ACCOUNTS Creative Design Co General Ledger ASSETS REVENUE 110 Cash 410 Sales Previous l work saved Save and Exit Submit Assignment for Grading

Explanation / Answer

Bank Reconciliation Statement for August 31 2016 Particulars Amount Amount Balance as per Cash Book (A) $24,403.00 Add: Outstanding Cheques $13,345.00 Wronly recorded of Cheque ($ 550 - $ 55 ) $495.00 Interested credited by bank not recorded in books Total of Addition (B) $13,840.00 Total (C = A + B) $38,243.00 Less: Deposit but Not recorded in bank $6,727.00 Bank charges not taken in the books $12.00 D = Total of Deuctible $6,739.00 Balance as per bank Statement (C+D) $31,504.00 Journal Entries Date Account Title and explanation Debit Credit Aug 31, 2016 Bank Charges $                               12       To Cash $                             12 (To Record the bank Charges) Aug 31, 2016 Cash $                             495       To Account Payable $                           495 (To Correct the Account payable)

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