Question
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
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 (2) 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 (4) recorded by the business and the bank (6) 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 (4) 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:
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