Prepare correct bank reconciliation

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Reference no: EM132739825

Question - Shoe City Pty Ltd's bank reconciliation clerk is unable to reconcile the bank balance at 31 January. The balance of the cash at bank account, before any entries for transactions initiated by the bank, was $4,963.00 in the company records. The clerk's attempt at the bank reconciliation statement is as follows:

Cash balance as per bank statement $4,429.00

Add: Dishonoured cheque 555.00

Less: Bank charges 27.00

Less: Outstanding deposits 760.00

Add: Unpresented cheques 808.00

Cash balance as per company records $5,005.00

Required - Prepare correct bank reconciliation.

Reference no: EM132739825

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