Explain why bank reconciliation statements are prepared, and then prepare one 1 Why are bank reconciliation statements prepared? Under what circumstances would it be unnecessary to prepare a bank...

Explain why bank reconciliation statements are prepared, and then prepare one 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, $6185.90 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