Nolan Company's cash account shows a $26,444 debit balance and its bank statement shows $25,250 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,792. b. The June 30 bank statement lists $37 in bank service charges; the company has not yet recorded the cost of these services. A c. In reviewing the bank statement, a $80 check written by the company was mistakenly recorded in the company's books as $89. d. June 30 cash receipts of $3,997 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 $39 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's cash account shows a $26,444 debit balance and its bank statement shows $25,250 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,792. b. The June 30 bank statement lists $37 in bank service charges; the company has not yet recorded the cost of these services. A c. In reviewing the bank statement, a $80 check written by the company was mistakenly recorded in the company's books as $89. d. June 30 cash receipts of $3,997 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 $39 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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