Homework Help is Here – Start Your Trial Now!
Business
Accounting
QS 7-18 Bank reconciliation LOG 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. 1. Outstanding cheques as of June 30 total $3,713. 2. The June 30 bank statement lists $41 in bank service charges; the company has not yet recorded the cost of these services. 3. In reviewing the bank statement, a $90 cheque written by the company was mistakenly recorded in the company's books as $99. 4. 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. 5. 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.

QS 7-18 Bank reconciliation LOG 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. 1. Outstanding cheques as of June 30 total $3,713. 2. The June 30 bank statement lists $41 in bank service charges; the company has not yet recorded the cost of these services. 3. In reviewing the bank statement, a $90 cheque written by the company was mistakenly recorded in the company's books as $99. 4. 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. 5. 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.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please don't provide solutions in an image format thank you

QS 7-18 Bank reconciliation LO6 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. 1. Outstanding cheques as of June 30 total $3,713. 2. The June 30 bank statement lists $41 in bank service charges; the company has not yet recorded the cost of these services. 3. In reviewing the bank statement, a $90 cheque written by the company was mistakenly recorded in the company's books as $99. 4. 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. 5. 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.
Transcribed Image Text:QS 7-18 Bank reconciliation LO6 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. 1. Outstanding cheques as of June 30 total $3,713. 2. The June 30 bank statement lists $41 in bank service charges; the company has not yet recorded the cost of these services. 3. In reviewing the bank statement, a $90 cheque written by the company was mistakenly recorded in the company's books as $99. 4. 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. 5. 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.
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Bank reconciliation statement
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
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS