Nolan Company's cash account shows a $24,625 debit balance and its bank statement shows $23,541 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2.894. b. The June 30 bank statement lists $27 In bank service charges; the company has not yet recorded the cost of these services. c In reviewing the bank statement, a $70 check written by the company was mistakenly recorded in the company's books as $79. d. June 30 cash receipts of $3.982 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 $22 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. NOLAN COMPANY Bank Reconciliation June 30 Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance Adjusted book balance

Nolan Company's cash account shows a $24,625 debit balance and its bank statement shows $23,541 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2.894. b. The June 30 bank statement lists $27 In bank service charges; the company has not yet recorded the cost of these services. c In reviewing the bank statement, a $70 check written by the company was mistakenly recorded in the company's books as $79. d. June 30 cash receipts of $3.982 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 $22 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. NOLAN COMPANY Bank Reconciliation June 30 Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance Adjusted book balance

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 1PA

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Similar questions

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1.
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. Prepare a bank reconciliation using the following information. 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.