QS 6-11 (Static) Bank reconciliation LO P3 Nolan Company's cash account shows a $22,352 debit balance...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/664fa178ca0b2_712664fa1786e39c.jpg)
Transcribed Image Text:
QS 6-11 (Static) Bank reconciliation LO P3 Nolan Company's cash account shows a $22,352 debit balance and its bank statement shows $21.332 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $3,713 b. The June 30 bank statement lists $41 in bank service charges, the company has not yet recorded the cost of these services c. In reviewing the bank statement, a $90 check written by the company was mistakenly recorded in the company's books as $99 d. June 30 cash receipts of $4,724 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 $23 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 Add $21.332 Book balance Add $ 22.362 Deduct 0 21,332 Deduct 0 Adjusted bank balance $ 21.332 Adjusted book balance 0 22.352 0 $ 22.352 QS 6-11 (Static) Bank reconciliation LO P3 Nolan Company's cash account shows a $22,352 debit balance and its bank statement shows $21.332 on deposit at the close of business on June 30. a. Outstanding checks as of June 30 total $3,713 b. The June 30 bank statement lists $41 in bank service charges, the company has not yet recorded the cost of these services c. In reviewing the bank statement, a $90 check written by the company was mistakenly recorded in the company's books as $99 d. June 30 cash receipts of $4,724 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 $23 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 Add $21.332 Book balance Add $ 22.362 Deduct 0 21,332 Deduct 0 Adjusted bank balance $ 21.332 Adjusted book balance 0 22.352 0 $ 22.352
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
A pistoncylinder device contains superheated steam. During an actual adiabatic process, the entropy of the steam will (never, sometimes, always) increase.
-
h(x) = -3(2)x Graph the function by hand. Find its domain and range.
-
An article by D. Schaefer et al. (Journal of Tropical Ecology, Vol. 16, pp. 189207) reported on a longterm study of the effects of hurricanes on tropical streams of the Luquillo Experimental Forest...
-
Journal entries (continuation of 4-11). (20 minutes) Refer to requirement 2 of Exercise 4-11. REQUIRED Prepare summary journal entries for the use of direct materials and conversion costs. Also...
-
The manager of a department store in Seattle is attempting to decide on the types and amounts of advertising the store should use. He has invited representatives from the local radio station,...
-
Research Case: You are auditing the sales and collection cycle for the United Regional Hospital, a small not-for-profit hospital. The hospital has a reputation for excellent medical services and weak...
-
Question 1 (30 points) Superman Toys Dominique, the head of operations at Superman Toys (ST), a firm specializing in toys for young kids (for ages 7 - 10 years), had an important decision to make. ST...
-
One measure of the risk or volatility of an individual stock is the standard deviation of the total return (capital appreciation plus dividends) over several periods of time. Although the standard...
-
Aaron, Deanne, and Keon formed the Blue Bell General Partnership at the beginning of the current year. Aaron and Deanne each contributed $140,000, and Keon transferred an acre of undeveloped land to...
-
6. X ~U (0,1) and Y|X = 2~ x~V (x, 1) a) write down joint pdf fx,y (x,y) b) find marginal pdf fy (y) c) compute PLY 20.5)
-
1. Contrast the reaction to form biodiesel with the reaction to form soap. Why do they form dif- ferent products given that both reactions start out with a base and a fat or oil? 2. Draw the...
-
Comprehensive Problem A. Peter Senen Corporation, has two departments in the operations, Cutting and Finishing Department. The inventories, cost and produc- tion data for the month of August 2021 are...
-
easyway grocery store carries milk as one of its main inventory items. each 4 litre jug of milk carries an expiry date
-
Data on weekday exercise time for 20 females, consistent with summary quantities given in the paper An Ecological Momentary Assessment of the Physical Activity and Sedentary Behaviour Patterns of...
-
Job costs in a service organization. Web Support Unlimited, a Web site design and maintenance firm, uses job costing. During November, the firm provided Web site services for two clients and billed...
-
Job costs in a service organization. Computer Systems. Inc.. uses job costing. During June, the firm provided computer consulting services for three clients and billed those clients for the services...
-
Customer profitability analysis. Tools.com makes custom tools for three customers, Larry, Curly, and Moe. The following is Tools. corn's income statement for the most recent year. In reviewing each...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App