nolan company's cash account shows a $26,426 debit balance and its bank statement shows $25,694 on deposit at the close of business on june 30.

Question

19-12-2022
Business

Answered

nolan company's cash account shows a $26,426 debit balance and its bank statement shows $25,694 on deposit at the close of business on june 30.

Answer :

Other Questions

A local bank will pay you $100 at the end of each year for your lifetime if you deposit $2,500 in the bank today. If you plan to live forever, what interest rat

Ivanhoe Company, organized in 2019, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been reco

If you earn 6% per year on your bank account, how long will it take an account with $100 to double to $200? (Do not round intermediate calculations. Round your

The balance in Newsprint Corp.'s foreign exchange loss account was $10,000 on December 31, 20X8, before any necessary year-end adjustment relating to the follow

The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The Decembe

month’s transaction for Alem Photographic Studio are use based on their occurrence during March, 2012. March, 1. Alem invested the following from her par-time b

12.- Under VAT allocation principles: a) A Spanish company buying 10 tons of steel from a Japanese company must pay VAT in the Japanese customs area b)A Spanis

Rick recently died and left behind an individual irs accounts in his name. His widow was forwarded the balance of the irs. The transfer of Rick irs account bala

a. Calculate the amount required in the allowance for doubtful debts as on 31st December 2021, using accounts receivable method. b. Prepare journal entries for

The fact that superior service can generate a competitive advantage for a company does not mean that every attempt at improving service will create such an adva

Tutorconsortium435 Tutorconsortium435 · Answer 1 · 2022-12-27T20:39:26-05:00

At the conclusion of business on June 30, Nolan Company's cash account showed a debit balance of $26,426 and its bank statement showed $25,694 on deposit.

An explanation of a bank statement:

A bank statement is a summary of all the financial activities that have affected your account within a specific time period, including deposits, withdrawals, and transfers. The account's opening and closing balances, your account number, and other crucial account details might potentially be included in your bank statement.

Describe a bank statement using an example:

Name, location, account number, and information about the bank branch are all shown on bank statements for account holders. It also includes a summary table that displays the statement's timeline, starting and closing bank balances, deposits made to the account, refunds, and other financial information.

Briefing:

Bank statement balance 25,694 Book balance 26,426

Add : Add :

Deposits in transit 3,656 Error in recording check (89-80) 9

3,656 interest earned 40 49

Deduct : Deduct :

Outstanding checks 2,907 Bank service charges 32

2,907 32

Adjusted bank balance = 26,443 adjusted book balance =26,443

To know more about bank statement visit:

https://brainly.com/question/24007779

#SPJ4