Question

Nolan Company's cash account shows a $22,906 debit balance and its bank statement shows $21,905 on deposit at the close of business on June 30.

 a. Outstanding checks as of June 30 total $2,068.

 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 $90 check written by the

 company was mistakenly recorded in the company's books as $99. d. June 30 cash receipts of $3,064 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 $26 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.

Answer 1

Solution:

Hope this helps! In case of any clarifications, kindly use the comment box below