Part B Question 1: Accounting for Current Assets The balance of S11,318 D (65 marks) (15 marks) Ltd's bank statement for the month of December showed a balance De Lange hoak of $14,000 CR. The company's Cash account in the general ledger had a R at 30 November. Other information is as follows: ber recorded on the company's books were $10,400 but Cash receipts for 31 Decem this amount does not appear on the (1) bank statement. debit for $80 for cheque printing charges. (2) The bank statement shows a No 119 payable to Black Company was recorded in the cash payments (3) Cucleared the bank for S496. A review of the accounts payable subsidiary jou mal and ledger shows a debit entry for $946. (4) The total amount of cheques still outstanding at 31 December amounted to $11,600. ue No. 138 was correctly recorded by the bank for $818. The cash payment reflects an entry for Cheque No. 138 as a debit to Accounts Payable and a credit to Cash in Bank for $980. (6) The bank returned a dishonoured cheque from a customer for $1,120. (7) The bank included a credit for $2,520, which represents collection of a customer's note by the bank for the company; principal amount of the note was $2,400 and interest was $120. Interest has not been accrued. Required: (a) Prepare the bank reconciliation statement for De Lange Ltd at 31 December 4 marks) (b) Prepare the cash at bank ledger account for De Lange Ltd at 31 December 6 marks) (5 marks) (c) Describe the five basic principles of cash management