The bank reconciliation prepared by Village-on-the-l.ake Condos on May 31, 2014, is shown below:

The Cash account in the General Ledger appeared as follows on June 30:

A list of deposits made and cheques written during June, taken from the Cash Receipts Journal and Cash Disbursements Journal, is shown below:

The following bank statement is available:

In reviewing deposits recorded by the bank, the bookkeeper discovered that the deposit from customer Darla Smith dated June 30, recorded in the Cash Receipts Journal incorrectly as $12,600, was recorded by the bank correctly as $16,200.
Required
a. Prepare bank reconciliation at June 30.
b. Prepare the necessary journal entries to bring the General Ledger Cash account into agreement with the adjusted balance on the bank reconciliation.

Transcribed Image Text:

Village-on-the-Lake Condos Bank Reconciliation May 31, 2014 2,060 Book balance $3,910 Add Deposit of May 31 in transit... 12,500 $14,560 Deduct: Outstanding cheques: #103 #120 6,520 4,130 10,650 3,910Adjusted book balance.. $3,910 Cash Acct. No. 101 Debit Credit Date 2014 lune 30 Explanation PR Balance 31 Balance CR21 CD16 3,910 42,590 10,729 38,680 30 31,861 Deposits Made Cheques Written S 590 1,120 5,690 4,510 7,830 12,600 6,340 Total June Cash Receipts.. $38,680 June 5 10 15 20 27 30 30 2,100 450 680 9,750 196 6,420 4,550 6,780 820 115 $31,861 No. 127 130 ARA 132 133 134 135 136 Total June Cash Disbursements Bank Statement June 30, 2014 Bank of Nova Scotia To: Village-on-the-Lake Condos Cheques/Charges Deposits/Credits Balance #1 33 #136 129 130 #103 #1 34 #1 28 SC 06/02 06 05 06/10 06/15 06/20 06/27 06/30 06/30 4,550 115 680 9,750 6,520 6,780 450 400 06 02 06 05 06/10 06 15 06 20 06 27 06/30 12,500 590 1,120 5,690 4.510 7,830 16,200 2,060 0,010 10,485 10,925 6,865 4,855 5,905 21,655 21,255 SC Service PMT Principal Payment INT Interest NSF Not Sutficient Funds Charge