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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
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 before completing part
Based on the following data, prepare a bank reconciliation for December of the current year:
Balance according to the bank statement at December $
Balance according to the ledger at December $
Checks outstanding at December $
Deposit in transit, not recorded by bank, $
Bank debit memo for service charges, $
A check for $ in payment of an invoice was incorrectly recorded in the accounts as $
Kornett Company
Bank Reconciliation
December Y
Line Item Description Amount Amount
$fill in the blank
fill in the blank
fill in the blank
Adjusted balance $fill in the blank
$fill in the blank
$fill in the blank
fill in the blank
Total deductions fill in the blank
Adjusted balance $fill in the blank
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