es 0 Help Save QS 66 Bank reconciliation LO P3 Nolan Company

es 0 Help Save QS 6-6 Bank reconciliation LO P3 Nolan Company deposits al cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, 2017, its Cash account shows a $22,352 debit balance. Nolan\'s June 30 bank statement shows $21332 on deposit in the bank a. Outstanding checks as of June 30 total $3,713 b. The June 30 bank statement included a $41 debit memorandum for bank services, the company has not yet recorded the cost of these services. e. In reviewing the bank statement a $90 check written by the Company was mistakenly recorded in the company\'s books at $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 stanement e. The bank statement included a $23 credit for interest earned on the cash in the bank Prepare a bank reconciliation for Nolan Company using the above information NY C Prev or Next > Du

Solution

Nolan company Bank Reconciliation Bank Statement balance 21,332 Book Balance 22,352 Add: Add: Deposit in transit 4,724 4,724 Error in recording check 9 interest earned 23 32 26,056 22,384 Deduct: Deduct: Checks oustanding 3,713 3,713 Bank charges 41 41 Adjusted bank balance 22,343 Adjusted book balance 22,343