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Adjusted balance: $32,630 Show Me How EX 8-18 Bank reconciliation OBJ. 5 The following data were accumulated for use in reconciling the bank account of Mathers Co. for July: 1. Cash balance according to the company's records at July 31, $32,110. 2. Cash balance according to the bank statement at July 31, $31,350. 3. Checks outstanding, $2,870. 4. Deposit in transit, not recorded by bank, $4,150. 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, $20. a. Prepare a bank reconciliation, using the format shown in Exhibit 13. b. If the balance sheet is prepared for Mathers Co, on July 31, what amount should be reported for cash? c. Must a bank reconciliation always balance (reconcile)? OBJ. 5 EX 8-22 Bank reconciliation The following June 30 bank reconciliation was prepared for Poway Co. Corrected adjusted balance: $19,780 $16,185 Poway Co. Bank Reconciliation For the Month Ended June 30 Cash balance according to bank statement.............. Add outstanding checks: No. 1067 1106............. .. 1110.... 1113.. $ 575 470 1,050 910 Deduct deposit of June 30, not recorded by bank......... Adjusted balance..... Cash balance according to company's records .......... Add: Proceeds of note collected by bank: Principal... Interest............ Service charges .... 3,005 $19,190 6,600 $12,590 $ 8,985 $6,000 300 $6,300 15 6.315 $15,300 Deduct: Check returned because of insufficient funds.... Error in recording June 17 deposit of $7,150 as $1,750 ........ Adjusted balance........ a. Identify the errors in the following bank reconciliation: h Prepare a new bank reconciliation for Poway Co., using the format show illustrative problem. $ 890 5,400 6,290 $ 9,010 format shown in the

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