Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 27, 2024

Silver Ltd is preparing bank reconciliation statement for January. The following items are identified. Outstanding deposit $3200 Outstanding EFTs $800 Cash balance as per company

Silver Ltd is preparing bank reconciliation statement for January. The following items are identified. Outstanding deposit $3200 Outstanding EFTs $800 Cash balance as per company records $12310 Cash balance as per bank statement $10900 The bank mistakenly included a deposit of $900 to Silver Ltd's bank statement that related to Watsonia Stores. The bank correctly debited $1230 to Silver Ltd. However, the cash payment journal entry was incorrectly made for $1320. Required: Prepare the bank reconciliation statement for January

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

Students also viewed these Accounting questions

Question

7. If an athlete exhibits an alarmingly high level of precompetitive state anxiety, but then indicates that she believes it will facilitate good performance, how would you advise this athlete?

Answered: 1 week ago

Question

★★★★★

1. Schultz argued that even if the corporate veil should be pierced, the $450,000 judgment against him was too much and should be reduced. How might the court have responded to this argument? 2....

Answered: 1 week ago

Question

★★★★★

Ida Sidha Karya Company is a family-owned company located in the village of Glanyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan...

Answered: 1 week ago

Question

★★★★★

Franklin is buying his first house. He is putting a $ 20,000 down payment on the house, but has to take out a mortgage for the remaining $ 170,000 of the purchase price. Franklin's bank has offered...

Answered: 1 week ago

Question

★★★★★

* Question Completion Status: Moving to the next question prevents changes to this answer. Question 14 Question 14 of 60 2 points Save Ansver TG Mining has 100 000 shares outstanding and just...

Answered: 1 week ago

Question

★★★★★

+ QUESTION 2: A. From the below information Calculate Working Capital. Debtors $ 55,000 Inventories $ 15,000 Accounts Payable $ 12,000 Cash $ 4,000 Accounts Receivable $ 8,000 Creditors $ 16,500...

Answered: 1 week ago

Question

★★★★★

How to convert a one-dimensional array to a two-dimensional array in C#

Answered: 1 week ago

Question

★★★★★

strategy is about competitiveness so: How to better than others? Why the company want to be good as somebody else? Give example. Me as a customer: What is important to me when buying something new.....

Answered: 1 week ago

Question

★★★★★

Financial Strategy and Corporate Objectives, Financial Management Environment, Working Capital Management Notes in answering problems: 1. Do not round off anytime during the computation. 2. Use 360...

Answered: 1 week ago

Previous Question Next Question