Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Help Nolan Company's cash account shows a $26,426 debit balance and its bank statement shows $25,694 on deposit at the close of business on June

image text in transcribed
Help Nolan Company's cash account shows a $26,426 debit balance and its bank statement shows $25,694 on deposit at the close of business on June 30 a. Outstanding checks as of June 30 total $2,907. b. The June 30 bank statement lists $32 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 $3,656 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 $40 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 Book balance Add Bank statement balance Add: 0 0 Deduct: 0 Deduct 0 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

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Fundamentals Of Business Mathematics In Canada

Authors: F. Ernest Jerome, Jackie Shemko

3rd Edition

1259370151, 978-1259370151

Students also viewed these Accounting questions

Question

=+What are the states of nature?

Answered: 1 week ago