The following information is available for Darrens Surfboard

The following information is available for Darren\'s Surfboards for the month ended 30 June 2011 Unadjusted ledger bank balance $9,232.28 Dr Balance as per bank statement $8,779.54 Cr. . Cheque 599 was correctly recorded on the bank statement for $420 but incorrectly recorded in the cash payments journal for $240 Unpresented cheques 608 $1,940.52 612 $1,688.00 A deposit of $5,562.26 had not yet been recorded by the bank Included on the bank statement was a dishonoured cheque written by T. Rafter to Darren\'s Surfboards for $279 A bank statement credit on 21 June indicated an electronic transfer of $1,975 for a loan repayment (includes interest revenue of $75).

Solution

Solution:

a) Setting up the Ledger Cash at Bank Account, and Entering the Necessary Adjustments to Update the Accounts to 30th June 2011 and the Balancing the Account:

Darrens Surfboards

Cash at Bank

b) Preparing a Bank Reconciliation Statement at 30 June 2011 to Reconcile the Adjusted Ledger Bank Balance with the Bank Statement Balance:

Darrens Surfboards Cash at Bank
Date	Particulars	Amount	Date	Particulars	Amount
2011 June 30	Unadjusted Balance	$9,232.28	2011 June 30	Adjustment Cheque 599	$180.00
30	Loan	$1,900.00		Dishonoured Cheque	$279.00
30	Interest Revenue	$75.00		Bank Fees	$35.00
				Balance	$10,713.28
		$11.207.28			$11,207.28
30	Balance	$10,713.28