Nolan Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At t...

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Nolan Company deposits all cash receipts on

April 14, 2018

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 a $21,470 debit balance. Nolan’s June 30 bank statement shows $21,985 on deposit in the bank.

a.

Outstanding checks as of June 30 total $2,808.

b.

The June 30 bank statement included a $28 debit memorandum for bank services; the company has not yet recorded the cost of these services.

c.

In reviewing the bank statement, a $20 check written by the company was mistakenly recorded in the company’s books at $29.

d.

June 30 cash receipts of $2,310 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 $36 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 balanceBook balance
Add:Add:
00
00
Deduct:Deduct:
Outstanding checks
00
Adjusted bank balance$0Adjusted book balance

$0










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