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What amount should be reported for cash

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Question - Bank Reconciliation - The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6:

1. Cash balance according to the company's records at August 31, $26,440.

2. Cash balance according to the bank statement at August 31, $27,980.

3. Checks outstanding, $5,370.

4. Deposit in transit, not recorded by bank, $4,310.

5. A check for $170 in payment of an account was erroneously recorded in the check register as $710.

6. Bank debit memo for service charges, $60.

Required -

a. Prepare a bank reconciliation?

b. If the balance sheet were prepared for Creative Design Co. on August 31, what amount should be reported for cash?

Reference no: EM133117866

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