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Shareholders equity, accounting assignment help

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Studio Electronics’
accountant wrote a check to a supplier for inventory in the amount of $1,500
but erroneously recorded it on the​company’s books as $1,050.

She discovered this
when she saw the monthly bank statement and noticed that the check had cleared
the bank for $1,500. How would this be handled on the bank​reconciliation?
Enter the transaction into the accounting equation

Studio’s accountant needs to make to correct
its accounting records.

The accountant should  (ADD OR
DEDUCT?)
the difference of  ($-??) from the (BANK
OR BOOK?)
balance when reconciling the bank statement.

Enter the transaction into the accounting
equation

Studio’s accountant
needs to make to correct its accounting records.  ​(Use parentheses or a
minus sign when entering account decreases. Use only the necessary input​
lines.)

Shareholders’ Equity

Assets

=

Liabilities

+

Contributed Capital

+

Retained Earnings

$

Account

$

Account

$

Account

$

Account

=

+

+

=

+

+

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