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Please answer and explain problem...need help with this review for final. SImilar question will be on exam this is just practice question. Thank you... First/best
Please answer and explain problem...need help with this review for final. SImilar question will be on exam this is just practice question. Thank you...
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ACCT 2010 FE Review 1) Bank reconciliation (A.) You are required to prepare the June 30 bank reconciliation for Silver Company using the following information 1 Outstanding checks: 3 Deposit in transit -$2,325 No. 479 $5274 Note collected by bank As agent of Silver No. 486 No. 490 390 650 no interest)... $2,000 2 Check no 485 (for Repairs 5 NSF check of D. Chan Bankservicecharge Expense was wnitten for $995 $45 $323 but erroneously recorded in Silver's records as $233 erence... 90 (B.) Give in general journal form the entry or entries necessary to correct Silver's accounting records as of June 30. (Explanations may be omitted; one compound journal entry is acceptable.) ACCT 2010 FE Review 1) Bank reconciliation (A.) You are required to prepare the June 30 bank reconciliation for Silver Company using the following information 1 Outstanding checks: 3 Deposit in transit -$2,325 No. 479 $5274 Note collected by bank As agent of Silver No. 486 No. 490 390 650 no interest)... $2,000 2 Check no 485 (for Repairs 5 NSF check of D. Chan Bankservicecharge Expense was wnitten for $995 $45 $323 but erroneously recorded in Silver's records as $233 erence... 90 (B.) Give in general journal form the entry or entries necessary to correct Silver's accounting records as of June 30. (Explanations may be omitted; one compound journal entry is acceptable.)Step by Step Solution
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