QUESTION 1 The bank reconciliation statement of Honshu Ltd for February 2020 is set out below: 1) Bank reconciliation statement on 29 February 2020: DR Balance as per bank statement Add: Unpresented cheques not debited by bank:- $ 24 131.00 Dr $ No. 6582 663 6672 2 670.00 512.00 48.00 3 230.00 27 361.00 18 549.00 8812.00 Cree e Less: Outstanding deposit CR Balance as per Cash at Bank account e $ 2) The cash receipts and cash payments journals for the period ending 15 March, 2020 were as follows: 324.00 674 6752 625.00 Honshu Ltd. Cash Receipts Journal Honshu Ltd Cash Payments Journal Date Particulars $ Date Cheque # $ Mar 22 Deposit 3 942.00 Mar 22 672 Mar 3 Deposit 4 280.00 6732 182.00 Mar 42 1 540.00 Mar 6 Deposit 986.00 Mar 8 676 439.00 Mar 9 Deposit 2 469.00 e 677 1 890.00 le 6782 859.00 Mar 9 679 2 310.00 Mar 11 Deposit 1 822.00 680 726.00 Mar 12 Deposit 3 624.00 Mar 12 6812 972.00 Mar 15% Deposit 2 420.00 de TOTAL 10 228.00 TOTAL 19 182.00 e 3) Honshu Ltd's Bank statement at March 15, 2020 is shown on the following page: Credit 18 549 3 942 WAT BANK WICHTOWN Statement of Account - Honshu Ltd. Date Particulars Debit 2020 Brought forward March 1 3 Cheque 6584 2 670 Account keeping fee 85 Cheque 667 48 4 7 Cheque 674 1 540 Cheque returned (NSF) 295 4 280 625 Cheque 6732 182 10 2469 925 Balance 24 131 DR 5 582 DR. 1 640 DR 4310 DR 4 395 DR Le 4 443 DR 163 DR 1 703 DR 1998 DR 1 373 DR 1 555 DRIE 914 CR 1 839 CR 1 515 CR 375 DR 814 DR e 1 008 CR 1 302 DR 1 540 DR 2 084 CR 1 098 CR 219 CR2 99 CR le 63 CR e 324 1 890 439 1 822 Interest on investment 11 Cheque 6722 Cheque 6772 Cheque 676 12e Cheque 6792 Payment authority (to M. Chung) 15 Cheque 675 Interest on overdraft Account keeping fee- Transaction fee 2 310 238 3 624 986 879 120 36 Required: a) Complete the cash receipts and cash payments journals. Calculate the new totals for each journal. b) Prepare the Cash at Bank Ledger Account as at 15 March, 2020.- Prepare a Bank reconciliation statement as at 15 March, 2020. d) In your own words explain how the preparation of the bank reconciliations assists the internal control of cash for Honshu Ltd. Identify at least three (3) key control points of the reconciliation process. - a) 676 Honshu Ltd. Cash Receipts Journal Honshu Ltd Cash Payments Journal le Date Particulars $ Date Cheque # $ Mar 2 Deposit 3 942.00 Mar 22 6722 324.00 Mar 30 Deposit 4 280.00 de 6732 182.00 e Mar 42 674 1 540.00 Mar 64 Deposit 625.00 e 675 986.00 e Mar 8 439.00 Mar 9 Deposit 2 469.00 6772 1 890.00 de 678 859.00 Mar 9 679 2 310.00 Mar 11 Deposit 1 822.00 680 726.00 Mar 12 Deposit 3 624.00 Mar 12 6812 972.00 le Mar 15 Deposit 2 420.00 TOTAL 10 228.00 e TOTAL 19 182.00 e le de 1 da da da 4 b) Cash at Bank 2020 2020 ] 11. + Honshu. Ltd Bank Reconciliation Statement as at 15 March 2020 Balance as per bank statement Cr {