1: Preparing a bank reconciliation (adopted from Miller-Noble et al) SydMel' Cash account shows a balance of $17 050 at 30 June 2021. SydMel's cash records for June 2021 follow. Cash receipts (CR) Date Cash (Debi Cash payments (CP) Cheque no. Cash (Credit) Jun 21 54 190 1416 $540 8 510 1417 170 10 550 1418 680 17 2150 1419 1190 30 1830 1420 1470 1421 1200 1422 630 On 30 June, SydMel received the following bank statement: BANK STATEMENT FOR JUNE 201 Beginning balance S 5 14000 Deposits and other credits Jun1 EFT 400 4 4190 9 510 12 550 17 2150 22 BC 1600 9400 Choques and other debits Jun 8 DC 600 11 choque no. 1416) 840 19 EFT 700 22 (choque no. 1417) 170 29 680 30 (cheque no. 1419) 1910 30 SC 20 (4920) Ending balance 1540 Explanations: BC bank collection; EFT-electronic funds transfer: DC-dishonoured cheque; SC- service charge. Additional data for the bank reconciliation: The EFT deposit was a receipt of rent. The EFT debit was an insurance payment. The dishonoured cheque was received from a customer. The $1 600 bank collection was for a bill receivable. The correct amount of cheque number 1419 is $1 910. (SydMel mistakenly recorded the cheque for $1 190.) Requirement: Additional data for the bank reconciliation: The EFT deposit was a receipt of rent. The EFT debit was an insurance payment. The dishonoured cheque was received from a customer. The $1 600 bank collection was for a bill receivable. The correct amount of cheque number 1419 is $1 910. (SydMel mistakenly recorded the cheque for $1 190.) Requirement: Prepare SydMel's bank reconciliation at 30 June 2021. Prepare if there is any journal required to update the accrual accounting books. Answers: (You must use this template) Syd Mel STORES Bank reconciliation 30 June 2021 BANK: Balance, 30 June 2021 Add: SXXX XXX XXX Less: Outstanding cheques: Cheque no. XXX XXX XXX XXX XXX XXX (XXX) Adjusted bank balance, 30 June 2021 SXXXX BOOKS: Balance, 30 June 20211 XXXX Add: XXX XXX S XXX XXX XXX XXX Less: XXX S XXX XXX XXX XXX XXX XXX XXX (XXX) Adjusted book balance, 30 June 2021 SXXX Question 1: Preparing a bank reconciliation (adopted from Miller-Noble et al) SydMel' Cash account shows a balance of $17 050 at 30 June 2021. SydMel's cash records for June 2021 follow. Cash receipts (CR) Date Cash (Debit) Cash payments (CP) Cheque on Cash (Credit Jun 21 $4190 1416 $540 8 510 1417 170 10 550 1418 630 17 2150 1419 1190 30 1830 1420 1470 1421 1200 1422 630 On 30 June, SydMel received the following bank statement: BANK STATEMENT FOR JUNE 2021 Beginning balance Deposits and other credits Jun 1 S $ 14000 EFT 400 4 4190 9 530 12 550 17 2150 22 BC 1600 9400 Cheques and other debits Jun 8 DC 600 11 (cheque no. 1416) 840 19 EFT 700 22 (choque no. 1417) 170 29 650 30 (choque no. 1419) 1910 30 SC 20 (4920) Ending balance 18480 Explanations: BC-bank collection; EFT-electronic funds transfer; DC-dishonoured cheque; SC service charge Additional data for the bank reconciliation: The EFT deposit was a receipt of rent. The EFT debit was an insurance payment. The dishonoured cheque was received from a customer. The $1 600 bank collection was for a bill receivable. The correct amount of cheque number 1419 is $1 910. (SydMel mistakenly recorded the cheque for $1 190.) Answers: (You must use this template) SydMel STORES Bank reconciliation 30 June 2021 BANK: Balance, 30 June 2021 Add: SXXX XXX XXX Less: Outstanding cheques: Cheque no. XXX XXX XXX XXX XXX XXX (XXX) Adjusted bank balance, 30 June 2021 SXXXX BOOKS: Balance, 30 June 2021 XXXX Add: XXX S XXX XXX XXX XXX XXX Less: XXX $ XXX XXX XXX XXX XXX XXX XXX (XXX) Adjusted book balance, 30 June 2021 SXXX