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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
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
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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. Prepare a bank reconciliation using the above information. NOLAN COMPANY Bank Reconciliation June 30 Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance Adjusted book balance
Transcribed Image Text: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. Prepare a bank reconciliation using the above information. NOLAN COMPANY Bank Reconciliation June 30 Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance Adjusted book balance
ny's cash account shows a $28,500 debit s bank statement shows $28,323 on deposit business 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 of es. the bank statement, a $80 check written by y was mistakenly recorded in the company's 19. h receipts of $3,026 were placed in the depository after banking hours and were d on the June 30 bank statement. atement included a $32 credit for interest ne company's cash in the bank. The is not yet recorded interest earned. k reconciliation using the above information. NOLAN COMPANY Bank Reconciliation June 30 ce Book balance Add: Deduct: Adjusted book balance
Transcribed Image Text:ny's cash account shows a $28,500 debit s bank statement shows $28,323 on deposit business 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 of es. the bank statement, a $80 check written by y was mistakenly recorded in the company's 19. h receipts of $3,026 were placed in the depository after banking hours and were d on the June 30 bank statement. atement included a $32 credit for interest ne company's cash in the bank. The is not yet recorded interest earned. k reconciliation using the above information. NOLAN COMPANY Bank Reconciliation June 30 ce Book balance Add: Deduct: Adjusted book balance
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