QUESTION 1 and bank stratorment On 31" may, 2019 the bank column of the cash book of Magan ventures showed a debit balance of GH38,440. Upon examination of the cash book and the bank statement the following were noticed. D) Cheques amounting to GH425,200 issued on 24 may 2019 and entered in the cash book were not presented for payment. ii) Cheques amounting to GH30,000 were entered in the cash book as lodgments into the bank account in May 2019 but GH421,000 were cleared. ii) A dividend of GH1520 receivable was directly deposited on the bank account of the venture. iv) A cheque from a debtor for GH5,040 deposited in the bank account had been dishonored before 31st May, 2019 but no record of this appeared in the cash book. v) Bank interest amounting to GHe 1,840 received was not recorded in the cash book vi) A welfare membership subscription of GHe 1000 was paid by a standing order given to the bank vii) A payment of GH2460 by cheque in May 2019 to B. Bakah had been entered in the cash book as GHc2,640 viii) The payment side of the cash book had been overcast GH2000. Required: a) Adjust the cash book. (7.5 marks) b) Prepare a bank reconciliation statement as at 31" May, 2019. (7.5 marks) (Total: 15 marks) Hii QUESTION 2 a) The liability side of Mensah Enterprise's trial balance showed a suspense account balance. Subsequent checking of the records revealed the following: 1 A cheque for 260,000 for the purchase of raw materials on 30th March, 2019 had been incorrectly entered in the inventory account as 200,000. ii. A credit note from Unilever (Ghana) Ltd, for GH60,000 had been entered correctly in the returns outwards book but had been posted to the account of Unilever as 66,000. Bank charges of GH21000 appeared in the cash book but had not been posted to the bank charges account iv. An invoice of GH 139,000 for goods sold on credit to Kayens Enterprise had been correctly entered in the sales day book but had been posted to Kayens Enterprise's account as GH193,000. The debit balance of GH223,000 on Mensah's account on 31" march, 2019 had been carried down as GH253,000 and included in the trial balance at that figure. Required: Prepare journal entries to correct the errors detected. (5 marks) b) State three types of errors that do not affect the agreement of the trial balance