QUESTION 2 You have been provided with Park Statement and the Bank T Account for San Sam for the month ended 30 April 2021. 07/04 11:01 12/01 18/01 25/04 29.04 Lundgem.col 51 Ludgemont 52 Standing Order Lodguncat 53 Todgement 54 Lodgement 35 Rank T Account Koh 3,650 01/04 Balance bid 120 0101 Cheque 1024 850 11/04 Cheque 1023 490 15401 Cheque 1025 2,130 18/04 Cheque 1024 1,410 22/4 Standing Order 25104 Cheque 1027 4,856 29/04 Cheque 1028 29/04 Cheque 1029 Ksh 4,150 1,420 789 610 2,150 250 1.312 350 1.975 30/04 Balance od 13,506 01/09 Halance T3,506 4,856 Dute Details S Sam Bank Statement us at 30 April 2021 DR CR ksbe Ks 150 2,150 1.240 202 3,560 120 789 103 01:01 01:04 01:04 05:04 06:04 07:04 11/04 12:04 12.14 14:04 16:04 18:14 19:04 23:04 25/04 25:04 28.14 29/04 Balance Lodgement 50 Chegae 1022 Cheque 1024 Quarterly charges Lodgement S1 Lodgement 52 Cheque 1023 Credit transfer Standing Order ESB - direct debit Cheque 1025 Lodgement 53 Cheque 1026 Standing Order Cheque 1027 Lodgement S4 Annual interest Credit transfer Bulance Ksh -2,150 -2,000 -4.150 -3,390 -5,592 2,0.12 -1,912 -2,701 -2,598 3.448 4,189 -4,799 3,8.59 6,609 4,8.59 7,171 -5,041 5,025 -4,713 BSO 741 610 940 2,750 250 312 2.1.30 16 312 (Guidance of the amount for the same do the hank account and the hane statement differs you should assume that the bank statement is correct) You are required to prepare: a) Reconcile the opening balance as per the cash book to the balance as per the bank statement 3 Marks b) Prepare the corrected Bank T Account for S Sam for the most caded 30 April 2021. 9 Marks c) Prepare the Bank Reconciliation Statement as at 30 Aptu 2021 4 Marks d) With the aid of examples from the Bank Statement and Bank T account ahove, outline two reasons as to why it is important to prepare hank reconciliations regularly. Your answer should be presented in report format Marks Total 20 Marks QUESTION 2 You have been provided with Bank Statement and the Bank T Account for Son Sam for the month ended 30 April 2021. 07/04 11/04 12/04 18/04 25/04 29/04 Lodgement 51 Lodgement 52 Standing Order Lodgement 53 Lodgement 54 Lodgement 55 Bank Account Ksh 3,650 01/04 Balance bld 120 04/04 Cheque 1024 850 11/04 Cheque 1023 490 15/04 Cheque 1025 2,130 18/04 Cheque 1026 1.410 22/04 Standing Order 25/04 Cheque 1027 4,856 29/04 Cheque 1028 29/04 Cheque 1029 Ksh 4.150 1,420 789 610 2,150 250 1,312 850 1,975 30/04 Balance eld 13,506 01/05 Balance T3,506 4,856 S Sam Bank Statement as at 30 April 2021 Date Details DR CR Balance Ksh Ks Ksh 01/04 Balance 01/04 -2,150 Lodgement 50 150 01/04 -2,000 Cheque 1022 2,150 05/04 -4.150 Cheque 1024 1,240 -5,390 06/04 Quarterly charges 202 -5,592 07/04 Lodgement 51 3.560 -2,032 11/04 Lodgement 52 120 -1.912 12/04 Cheque 1023 789 -2,701 12/04 Credit transfer 103 -2,598 13/04 Standing Order 850 -3.448 14/04 ESB - direct debit 741 -4.189 16/04 Cheque 1025 610 -4,799 18/04 Lodgement 53 940 -3.859 19/04 Cheque 1026 2,750 -6,609 23/04 Standing Order 250 -6,859 25/04 Cheque 1027 -7.171 25/04 Lodgement 54 2,130 -5,041 28/04 Annual interest 16 -5,025 29/04 Credit transfer 312 -4,713 (Guidance the amount for the same item in the bank account and the bank statement differs you should assume that the bank statement is correct) You are required to prepare a) Reconcile the opening balance as per the cash book to the balance as per the bank statement 3 Marks b) Prepare the corrected Bank Account for S Sam for the month ended 30 April 2021 9 Marks c) Prepare the Bank Reconciliation Statement as at 30 April 2021. 4 Marks 312 d) With the aid of examples from the Bank Statement and Bank T account above, outline two reasons as to why it is important to prepare bank reconciliations regularly. Your answer should be presented in report format 4 Marks Total 20 Marks