Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5 8.75 points Nolan Company's cash account shows a $26.535 debit balance and its bank statement shows $25.449 on deposit at the close of business

image text in transcribed

5 8.75 points Nolan Company's cash account shows a $26.535 debit balance and its bank statement shows $25.449 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $2.206. b. The June 30 bank statement lists $34 in bank service charges, the company has not yet recorded the cost of these services. c In reviewing the bank statement a $20 check written by the company was mistakenly recorded in the company's books as $29. d. June 30 cash receipts of $3,300 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 $33 credit for interest eared on the company's cash in the bank. The company has not yet recorded Interest earned. Prepare a bank reconciliation using the above information. 02:32:17 eBook a Hint NOLAN COMPANY Bank Reconciliation June 30 References Bank statement balance Book balance Add: Add: Deduct: Deduct: Adjusted bank balance Adjusted book balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions