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.
Chapter1: Financial Statements And Business Decisions
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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.
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