Instructions 1. Journalize the selected transactions. 2. Based on the following data, prepare a bank reconciliation for December of the current year 1. Balance according to the bank statement at December 31,. 2. Balance according to the ledger at December 31,. 3. Checks outstanding at December 31, 4. Deposit in transit, not recorded by bank,. 5. Bank debit memo for service charges, 6. A check for in payment of an invoice was incorrectly recorded in the accounts as 3. Based on the bank reconciliation prepared in 0. journalize the entry or entries to be made 4. Based on the following selected data, journalize the adjusting entries as of December 31 by Kormett Company of the current year: 1. Estimated uncollectible accounts at December 31, , based on an aging of accounts receivable. The balance of Allowance for Doubtful Accounts at December 31 was (debit). 2. The physical inventory on December 31 indicated an inventory shrinkage of. 3, Prepaid insurance expired during the year,. 4. Office supplies used during the year,. 5. Depreciation is computed as follows: Depreciation Method Used ResidualAcquisition Useful Life Asset Buildings Value 5900,000 50 January 2 Cost Date In Years 50 Double-declining-balance Straight-line Straight-line Office Equip. 246,000 26,000January 3 Store Equip. 112000 12000 July 1 10 6. A patent costing when acquired on January 2 has a remaining legal life of and is expected to have value for eight years. 7. The cost of mineral rights was. Of the estimated deposit of of ore, were mined and sold during the year 8. Vacation pay expense for December 9. A product warranty was granted beginning December 1 an d covering a one-year period. The estimated cost is of sales, which totaled in December. 10. Interest was accrued on the note receivable received on October 17. Based on the following information and the post-closing trial balance shown below, prepare a balance sheet in report form at December 31 of the current year. 5. Instructions 1. Journalize the selected transactions. 2. Based on the following data, prepare a bank reconciliation for December of the current year 1. Balance according to the bank statement at December 31,. 2. Balance according to the ledger at December 31,. 3. Checks outstanding at December 31, 4. Deposit in transit, not recorded by bank,. 5. Bank debit memo for service charges, 6. A check for in payment of an invoice was incorrectly recorded in the accounts as 3. Based on the bank reconciliation prepared in 0. journalize the entry or entries to be made 4. Based on the following selected data, journalize the adjusting entries as of December 31 by Kormett Company of the current year: 1. Estimated uncollectible accounts at December 31, , based on an aging of accounts receivable. The balance of Allowance for Doubtful Accounts at December 31 was (debit). 2. The physical inventory on December 31 indicated an inventory shrinkage of. 3, Prepaid insurance expired during the year,. 4. Office supplies used during the year,. 5. Depreciation is computed as follows: Depreciation Method Used ResidualAcquisition Useful Life Asset Buildings Value 5900,000 50 January 2 Cost Date In Years 50 Double-declining-balance Straight-line Straight-line Office Equip. 246,000 26,000January 3 Store Equip. 112000 12000 July 1 10 6. A patent costing when acquired on January 2 has a remaining legal life of and is expected to have value for eight years. 7. The cost of mineral rights was. Of the estimated deposit of of ore, were mined and sold during the year 8. Vacation pay expense for December 9. A product warranty was granted beginning December 1 an d covering a one-year period. The estimated cost is of sales, which totaled in December. 10. Interest was accrued on the note receivable received on October 17. Based on the following information and the post-closing trial balance shown below, prepare a balance sheet in report form at December 31 of the current year. 5