Question 22 The Bank Statement and Cash Book (bank columns only) for Orvie Elwin for the month of October 2014 are as follows Bank Statement Debit Credit Balance 2014 Oct. 01 Balance 900 150 1 050 850 1900 200 03 T. Simeon 07 Cash sales deposit 13 Vehicle loan 1 Standing order 1 000 21 Debit transfer 29 Rent 29 Credit transfer 30 Bank charges 1 700 825 2 300 800) O/D (1 625) OD 3 925) 01D 4 000 75 400 Cash Book (bank columns only) 2014 S 2014 Oct 0 Balance bif 900 Oct. 10 Light & Power Company 180 1 700 2 300 03 T. Simeon 150 07 Cash sales 850 500 31 Balance cid 1 780 4 180 13 Vehicle loan 29 Rent 24 D. Elwin 4 180 2014 Nov. 1 Balance bid 1 780 Required Prepare the updated cash book to show the adjusted balance Starting with the updated cash book balance, draw up a Bank Reconciliation Statement for Orvie Elwin for the month of October 2014 Give two reasons for preparing a bank reconciliation statement (a) (b) (10 mks) (10 mks) (5 mks) (c)