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  • 1-17 (Silver Company)

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    Revv Cojuangco
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    The Silver Company's bank statement showed a balance of P380,750. However, deposits of P52,000 had not cleared yet and outstanding checks of P58,500 had to be deducted. After correcting for an erroneous P4,000 credit and a P12,000 check charged to the wrong account, the Silver Company's correct cash balance was P382,250.

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    The Silver Company's bank statement showed a balance of P380,750. However, deposits of P52,000 had not cleared yet and outstanding checks of P58,500 had to be deducted. After correcting for an erroneous P4,000 credit and a P12,000 check charged to the wrong account, the Silver Company's correct cash balance was P382,250.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    19 views1 page

    1-17 (Silver Company)

    Uploaded by

    Revv Cojuangco
    The Silver Company's bank statement showed a balance of P380,750. However, deposits of P52,000 had not cleared yet and outstanding checks of P58,500 had to be deducted. After correcting for an erroneous P4,000 credit and a P12,000 check charged to the wrong account, the Silver Company's correct cash balance was P382,250.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    1-17 (Silver Company)

    Balance per bank statement 380,750


    Deposits in transit 52,000
    Outstanding checks (67,500 - 9,000) (58,500)
    Erroneous credit by bank (4,000)
    Check of Silver Lining charged by bank to Silver Co.’s account 12,000
    Correct cash balance P382,250

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