Prepare a bank reconciliation for Nolan Company using the above information. Pre
ID: 2452691 • Letter: P
Question
Prepare a bank reconciliation for Nolan Company using the above information.
Prepare a bank reconciliation for Nolan Company using the above information.
Nolan Company deposits all 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, 2015, its Cash account shows an $20,621 debit balance. Nolan's June 30 bank statement shows $19,791 on deposit in the bank. a. Outstanding checks as of June 30 total $2,482. b. The June 30 bank statement included a $22 debit memorandum for bank services; the company has not yet recorded the cost of these services. c. In reviewing the bank statement, a $40 check written by the company was mistakenly recorded in the company's books at $49. d. June 30 cash receipts of $3,333 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 $34 credit for interest earned on the cash in the bank. Prepare a bank reconciliation for Nolan Company using the above information. NOLAN COMPANY Bank Reconciliation June 30, 2015 Bank statement balance Book balance Aakl Aakd Deduct: Deduct: Adjusted bank balance Adjusted book balanceExplanation / Answer
NOLAN & CO Bank Reconciliation 30th June 2015 Balance as per Cash account 20621 Add : cheques outstanding 2482 Less : Debit memorandum for bank services 22 Add : cheque mistakenly recorded ( 49 -40) 9 Less : Checks deposited not recorded in bank 3333 Add : Bank interest credited by bank 34 Balance as per Bank Statement 19791 NOLAN & CO Bank Reconciliation 30th June 2015 Balance as per Bank Statement 19791 Less : cheques outstanding 2482 Add : Debit memorandum for bank services 22 Less : cheque mistakenly recorded ( 49 -40) 9 Add : Checks deposited not recorded in bank 3333 Less : Bank interest credited by bank 34 Balance as per Cash account 20621