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.
Enter all amounts as positive numbers.
Kornett Company
Bank Reconciliation
December 31, 2014
Subtotal
Adjusted Balance
Deduct
Adjusted Balance

Balance as per bank statement $243,960

Balance as per ledger $243,960

Explanation:

Preparation of a bank reconciliation for December of the current year

KORNETT COMPANY Bank Reconciliation

December 31, 2014

Balance as per bank statement at December 31 $283,000

Add deposit in transit $29,500

Less check outstanding ($68,540)

Adjusted balance $243,960

Balance as per ledger at December 31 $245,410

Less bank service charges ($750)

Less Error in recording in check ($700)

($12,700-$12,000)

Adjusted balance $243,960

Therefore bank reconciliation for December of the current year will be :

Balance as per bank statement $243,960

Balance as per ledger $243,960

the answer is . a novel has no sub-plot, but a novella does

​participate in networking opportunities that allow you to get to know potential clients, other entrepreneurs, influential people in your community, etc. focus on doing everything you can to cultivate posting word of mouth advertisin