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Nolan Company's cash account shows a $29,748 debit balance and its bank statement shows $29,761 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,090. b. The June 30 bank statement lists $40 In bank service charges; the company has not yet recorded the cost of these services. c In revlewing the bank statement, a $70 check written by the company was mistakenly recorded in the company's books as $79. d. June 30 cash recelpts of $2,084 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 $38 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

Nolan Company's cash account shows a $29,748 debit balance and its bank statement shows $29,761 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2,090. b. The June 30 bank statement lists $40 In bank service charges; the company has not yet recorded the cost of these services. c In revlewing the bank statement, a $70 check written by the company was mistakenly recorded in the company's books as $79. d. June 30 cash recelpts of $2,084 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 $38 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

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 $29,748 debit balance and Its bank statement shows $29.761 on deposit at the close of business on June 30. Outstanding checks as of June 30 total $2,090. b. The June 30 bank statement lists $40 In bank service charges: the company has not yet recorded the cost of these services. c. In revlewing the bank statement, a $70 check written by the company was mistakenly recorded In the company's books as $79. d. June 30 cash recelpts of $2,084 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 $38 credit for Interest earned on the company's cash in the bank. The company has not yet recorded Interest earned. Prepare a bank reconcilation 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 $29,748 debit balance and Its bank statement shows $29.761 on deposit at the close of business on June 30. Outstanding checks as of June 30 total $2,090. b. The June 30 bank statement lists $40 In bank service charges: the company has not yet recorded the cost of these services. c. In revlewing the bank statement, a $70 check written by the company was mistakenly recorded In the company's books as $79. d. June 30 cash recelpts of $2,084 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 $38 credit for Interest earned on the company's cash in the bank. The company has not yet recorded Interest earned. Prepare a bank reconcilation 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
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