Check r Nolan Company's cash account shows a $22,352 debit balance and its bank statement shows $21,332 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $3,713. b. The June 30 bank statement lists $41 in bank service charges; the company has not yet recorded the cost of these services. c. In reviewing the bank statement, a $90 check written by the company was mistakenly recorded in the company's books as $99. d. June 30 cash receipts of $4,724 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. e. The bank statement included a $23 credit for interest earned on the company's cash in the bank. The company has not yet recorded interest earned. Prepare a bank reconciliation using the above information.
Check r Nolan Company's cash account shows a $22,352 debit balance and its bank statement shows $21,332 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $3,713. b. The June 30 bank statement lists $41 in bank service charges; the company has not yet recorded the cost of these services. c. In reviewing the bank statement, a $90 check written by the company was mistakenly recorded in the company's books as $99. d. June 30 cash receipts of $4,724 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement. e. The bank statement included a $23 credit for interest earned on the company's cash in the bank. The company has not yet recorded interest earned. Prepare a bank reconciliation using the above information.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:History
Bookmarks Window Help
A 65%
A ezto.mheducation.com
Connect
leed-to-Know Videos
Saved
Help
Save & Exit
Check
Nolan Company's cash account shows a $22,352 debit balance and its bank statement shows $21,332 on deposit at the close of
business on June 30.
a. Outstanding checks as of June 30 total $3,713.
b. The June 30 bank statement lists $41 in bank service charges; the company has not yet recorded the cost of these services.
c. In reviewing the bank statement, a $90 check written by the company was mistakenly recorded in the company's books as $99.
d. June 30 cash receipts of $4,724 were placed in the bank's night depository after banking hours and were not recorded on the June
30 bank statement.
e. The bank statement included a $23 credit for interest earned on the company's cash in the bank. The company has not yet
recorded interest earned.
ok
Prepare a bank reconciliation using the above information.
nces
NOLAN COMPANY
Bank Reconciliation
June 30
Bank statement balance
Book balance
Add:
Add:
Deduct:
Deduct:
Adjusted book balance
Adjusted bank balance
< Prev
11 of 12
Next >
LINE
tv
OCT
14
MacBook Pro
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education