1. Why are bank reconciliation statements prepared? Under what circumstances would it be unnecessary to prepare a bank reconciliation statement?

2. You have been supplied with the following information produced by comparing the records of the Swift Company with its most recent bank statement:

a. Debit balance as per cash at bank account in ledger as at 30 June, $12 644.40 

b. Credit balance as per bank statement as at 30 June, $ 16 860.30 

c. Deposits not reflected on bank statement, $1880.00 

d. Unpresented cheques 30 June, $61 85.90 

e. Bank charge on bank statement not recorded in books, $30.00 

f. Error by bank - Switch Company cheque charged to Swift Company's account, $420.00 

g. Cheque for advertising expense, $480.00, incorrectly recorded in books as $840.00.
3. Prepare a bank reconciliation statement as at 30 June.
4. Prepare entries in general journal form to update the records of the Swift Company.