Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cyprus International University Accounting and Finance Department ACFN212 Accounting II Assignment One SILVER CO. Bank Reconciliation June 30, 20__ Balance per bank statement, June 30.
Cyprus International University Accounting and Finance Department ACFN212 Accounting II Assignment One SILVER CO. Bank Reconciliation June 30, 20__ Balance per bank statement, June 30. Add: Deduct: $9,079 Student Number . Adjusted balance........................ Question One: Bank reconciliation Balance per depositor's records, June 30......... $8.967 Add: Deduct: (A.) You are required to complete the June 30 bank reconciliation for Silver Company using the following information and as per the given format: Adjusted balance (as above)........... $2,325 3 4 NU. TOURER BEBERBER $527 390 650 Outstanding checks.............. No. 479 No. 486.......... No. 490........ Check no. 485 (for Repairs Expense was written for $323 but erroneously recorded in Silver's records as $233 Difference............................. Deposit in transit................. Note collected by bank As agent of Silver (no interest).... NSF check of D. Chan Bank service charge............... $2,000 (B.) Give in general journal form the entry or entries necessary to correct Silver's accounting records as of June 30. $995 $45 6 90
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started