The following information is provided regarding Busy Business:

Bank Statement - Issued: 31/05/20
	Bank Statement 55 Page 1
Date	Transaction	Withdrawal	Deposit	Balance
1-May	Balance			$ 5,455.00	CR
3-May	Deposit		560.00	$ 6,015.00	CR
6-May	1133	1,200.00		$ 4,815.00	CR
8-May	Dividend Telstra		160.00	$ 4,975.00
12-May	Deposit		4,000.00	$ 8,975.00	CR
14-May	Deposit		1,444.00	$ 10,419.00	CR
18-May	Deposit		1,672.00	$ 12,091.00	CR
19-May	1132	3,600.00		$ 8,491.00	CR
21-May	Deposit		650.00	$ 9,141.00	CR
25-May	EFT Deposit		300.00	$ 9,441.00	CR
27-May	1135	960.00		$ 8,481.00	CR
28-May	DD- City Rentals	880.00		$ 7,601.00	CR
29-May	Returned cheque	120.00		$ 7,481.00	CR
30-May	Bank Fees	45.00		$ 7,436.00	CR
31-May	1136	5,000.00		$ 2,436.00	CR
Notes:
- Deposit on 8th May was a direct deposit from Telstra as a dividend on shares held
- EFT Deposit on 25th was payment by debtor/accounts receivable
- 28th May DD- City Rentals is monthly payment for rent
- 29th May returned cheque is a cheque returned 'not sufficient funds (NSF)' from an accounts receivable/debtor

Cash at Bank
Date	Item	Ref	Debit	Credit	Balance
1/05/2020	Balance bd				$ 5,455.00	DR
31/05/2020		Cash Rec 5	8,826.00		$ 14,281.00	DR
31/05/2020		Cash Pay 5		11,770.00	$ 2,511.00	DR

Required:

Using the templates provided below (a) prepare a bank reconciliation statement (5 marks)

(b) post the necessary adjustments to Cash at Bank in the General Ledger at 31st May 2020 (5 marks).

(c) A bank reconciliation statement is an example of an internal control. Provide 2 further examples of internal controls that a business might have to safeguard its assets. (2 marks)