Nolan Company's cash account shows a $28,500 debitbalance and its bank statement shows $28,323 on depositat the close of business on June 30.a. Outstanding checks as of June 30 total $2,833.b. The June 30 bank statement lists $25 in bank servicecharges; the company has not yet recorded the cost ofthese services.c. In reviewing the bank statement, a $80 check written bythe company was mistakenly recorded in the company'sbooks as $89.d. June 30 cash receipts of $3,026 were placed in thebank's night depository after banking hours and werenot recorded on the June 30 bank statement.e. The bank statement included a $32 credit for interestearned on the company's cash in the bank. Thecompany has not yet recorded interest earned.Prepare a bank reconciliation using the above information.NOLAN COMPANYBank ReconciliationJune 30Bank statement balanceBook balanceAdd:Add:Deduct:Deduct:Adjusted bank balanceAdjusted book balance ny's cash account shows a $28,500 debits bank statement shows $28,323 on depositbusiness on June 30.| checks as of June 30 total $2,833.) bank statement lists $25 in bank service: company has not yet recorded the cost ofes.the bank statement, a $80 check written byy was mistakenly recorded in the company's19.h receipts of $3,026 were placed in thedepository after banking hours and wered on the June 30 bank statement.atement included a $32 credit for interestne company's cash in the bank. Theis not yet recorded interest earned.k reconciliation using the above information.NOLAN COMPANYBank ReconciliationJune 30ceBook balanceAdd:Deduct:Adjusted book balance

The bank reconciliation statement is prepared to record day to day transactions of the business on…

Nolan Company's cash account shows a $28,500 debit balance and its bank statement shows $28,323 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,833. b. The June 30 bank statement lists $25 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 $3,026 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 $32 credit for interest earned on the company's cash in the bank. The company has not yet recorded interest earned.

Nolan Company's cash account shows a $28,500 debit balance and its bank statement shows $28,323 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,833. b. The June 30 bank statement lists $25 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 $3,026 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 $32 credit for interest earned on the company's cash in the bank. The company has not yet recorded interest earned.

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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