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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.

College Accounting (Book Only): A Career Approach
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 1PB
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A Check my work 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. 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. Bank statement balance Add: Deduct: NOLAN COMPANY Bank Reconciliation June 30 Book balance Add: 0 0 Deduct: 0 0 0 0 Adjusted bank balance $ 0 Adjusted book balance $ 0
Transcribed Image Text:A Check my work 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. 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. Bank statement balance Add: Deduct: NOLAN COMPANY Bank Reconciliation June 30 Book balance Add: 0 0 Deduct: 0 0 0 0 Adjusted bank balance $ 0 Adjusted book balance $ 0
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