Please answer part A & B

QUESTION ONE Part A You are a trainee accountant for R 30 June 2015 has just arrived from the bank. egal Sports Ltd. The bank statement for the period ended The bank statement shows a closing balance of $88,150 CR According to R ledger is $82,200 DR egal Sports Ltd's accounting records, the balance in the Cash at Bank To prepare the bank reconciliation statement at 30 June 2015, you gathered the following information: - (1) The bank reconcillation statement prepared by Regal Sports Ltd in May 2015 includes (2) Bank fees and charges of $280 were recorded in the bank statement, but not in Regal (3) The bank statement includes a dishonoured cheque from a customer for the amount of an unpresented cheque (cheque number 0998) for $4,000 which is still outstanding. Sports Ltd's accounting records. $6,000. The cheque was previously recorded as a cash receipt in June 2015 by the business (4) The bank statement listed a deposit of $8,500, which does not appear in the cash (5) On 29 June 2015, the accountant deposited $11,000. This amount does not appear in (6) The following cheques issued by the business in June are still outstanding receipts journal. This amount was paid by a debtor via a direct transfer to the bank. the bank statement Cheque No. Amount 1118 1123 $5,460 $5,270 REQUIRED (a) Prepare the revised/adjusted Cash at Bank balance of Regal Sports Ltd as at 30 June 2015. [You can use either a T format ledger account or a running balance (columnar) ledger account]. (b) Prepare a bank reconcliation statement for Regal Sports Ltdat 30 June 2015 Part B SupaSensors Ltd makes all sales of its sensors on credit. Cash receipts arrive by mail to the company's head office. As part of his daily job, Michael Smith, a sales clerk of SupaSensors Ltd, opens envelopes and separates the cheques from the accompanying remittance advices. Michael Smith then forwards the cheques to another employee, who makes the daily bank deposit but has no access to accounting records. Michaels only other duty is to grant sales returns & allowances to customers. When he receives a customer cheque for less than the full amount of the invoice, he records the sales returns&allowances and forwards the document to the accounting department. REQUIRED: Identify the internal control weaknesses in the above situation and discuss the consequences