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Q.2.1 Stella a friend of yours recently started her own business. She was told that she needs to perform a bank reconciliation every month, but

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Q.2.1 Stella a friend of yours recently started her own business. She was told that she needs to perform a bank reconciliation every month, but she does not understand what this entails. Q-2.1.1 Briefly explain to Stella the bank reconciliation process Q.2.1.2 Stella has heard that there are 2 types of awareness differences, she would like to know what they are. Provide the 2 classifications of awareness differences Q-2.1.3 Explain to Stella why there would be differences between the transactions recorded by the business and the bank Q.2.1.4 Provide 1 example of each of the following: 1. Error committed by the bank 2. Error committed by the business 3. Adjusting differences where the business is not aware of a particular transaction 4. Adjusting differences where the bank is not aware of a particular transaction Q.2.1.5 Explain to Stella the difference between a stop order and debit order (6) Q.2.2 You have been provided with the following summary of cashbook receipts and cashbook payments for December 2022 before any adjustments have been made: SUMMARY OF CASH BOOK RECEIPTS FOR DECEMBER 2022 Required: Q.2.2.1 From the information provided above calculate the corrected cashbook receipts and cashbook payments totals after taking into account all the adjustments required. Show all your workings. Q.2.2.2 Using the amounts obtained in Q.2.2.1 above post to the bank account in the (6) general ledger. Balance the Bank general ledger account. SUMMARY OF CASH BOOK PAYMENTS FOR DECEMBER 2022 In addition you have received the following bank statement at 31 December 2022: Additional Information - The cash deposit made on the 3t4 of December was correctly recorded in the cash book - The cash payment made on the 5 of December was correctly recorded by the bank - Opening favourable balance of Bank Account at 1 December 2022: R3 700

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