Reference no: EM132835537
The following information was included in the bank reconciliation of Silicon Company on December 31, 2014:
Total recorded company receipts for December ?
Credit memo for November recorded in December 60,000
Credit memo for December not yet recorded 80,000
Erroneous receipt by the company during December, no correction was made until the following year 50,000
Erroneous bank disbursement in December corrected by bank in December 18,000
Deposit of Siliman Co. credited to Silicon Company during December 20,000
Total receipts per bank in December 900,000
Deposit in transit-December 31, 2014 100,000
Book receipt for ?50,000 in Dec. recorded by the company as 5,000
Problem 1. What is the total deposit for November 30, 2014, is:
a. ?97,000
b. ?117,000
c. ?137,000
d. ?142,000
Problem 2. What is the correct/adjusted receipt for December?
a. ?845,000
b. ?850,000
c. ?865,000
d. ?895,000
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