QS 8-8 Bank reconciliation LO P3 Nolan Company's cash account shows a $21,268 debit balance and its bank statement shows $19,711 on deposit at the close of business on June 30. Outstanding checks as of June 30 total $2,231. The June 30 bank statement lists $27 in bank service charges; the company has not yet recorded the cost of these services. In reviewing the bank statement, a $50 check written by the company was mistakenly recorded in the company’s books as $59. June 30 cash receipts of $3,801 were placed in the bank’s night depository after banking hours and were not recorded on the June 30 bank statement. The bank statement included a $31 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.

Please see explanation column for ansswer

Explanation:

A bank reconciliation is a document that reconciles or tallies  the cash balance on the company's books to the corresponding amount on its bank statement which helps a company or business check and monitor unauthorized cash transactions and rectify any inconsistency.

              Bank Reconciliation for Nolan Company in June 30

Bank Statement Balance                               $19, 711

Add:  

Deposit made                                                    $3, 801

                                                                          $23,512

Deduct:  

Outstanding checks                                          - $2,231  

Adjusted Bank Balance                                     $21,281

Cash Balance per Company's Records  $21,268

Add:

Interest earned                                                               $31

Error in recording check (59-50)                                   $9

                                                                                 $21,304

Deduct:

Service charges                                                         -$27

Adjusted Bank Balance                                        $21,281

how big are hotdogs, answer this or you get a dunce cap

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.