2.

You attended an interview with Company Y. During the interview, you are given the following bank reconciliation statement

Company Y Bank Reconciliation 30 November 2020
Cash balance according to the bank statement		RM5,620
Add: Bank error		150
		5,770
Deduct:
Insufficient fund check	860
Cash deposit does not appear in the bank statement	1,280	2,140
Adjusted balance		3,630
Cash balance according to the companys records:		RM6,200
Deduct:
Companys check not yet cleared	1,430
Bank service charges	20	1,450
Adjusted balance		4,750

REQUIRED:

a. You are asked to prepare a corrected bank reconciliation statement. (Note: Cash balance and book balance figures are correct).

b. State THREE (3) Principles of Internal Control.