The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You
Question:
The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to the objectives for each chapter covered as a review of the concepts.
Note: You must complete part 1 before completing part 2.
Based on the following data, prepare a bank reconciliation for December of the current year:
a. Balance according to the bank statement at December 31, $283,000.
b. Balance according to the ledger at December 31, $245,410.
c. Checks outstanding at December 31, $68,540.
d. Deposit in transit, not recorded by bank, $29,500.
e. Bank debit memo for service charges, $750.
f. A check for $12,700 in payment of an invoice was incorrectly recorded in the accounts as $12,000.
Kornett Company Bank Reconciliation December 31, 20Y5 | ||||
---|---|---|---|---|
Adjustments: | ||||
Total adjustments | ||||
Adjusted balance | ||||
Adjustments: | ||||
Total adjustments | ||||
Adjusted balance |
Accounting Information Systems
ISBN: 978-1133935940
10th edition
Authors: Ulric J. Gelinas, Richard B. Dull