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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.
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 reviewing the bank statement, a $70 check written by the company was mistakenly recorded in the company's books as $79. d. June 30 cash receipts 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. Bank statement balance Add: Deduct: NOLAN COMPANY Bank Reconciliation June 30 0 0 Book balance Add: Deduct: 0 0 0 0 Adjusted bank balance $ 0 Adjusted book balance $ 0
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