Your brother has just started a small IT support business and has asked you to explain some accounting concepts to him. Q.1.1 Your brother feels that preparing a monthly bank reconciliation is a waste of his (5) time. Explain to your brother what the benefits are of preparing a monthly bank reconciliation. Q.1.2 Explain to your brother the steps to follow when preparing a bank reconciliation. Include under each step examples of the types of reconciling items that can occur and how these will be treated in the reconciliation process. Remember to provide an explanation of awareness differences in your answer. Q.1.3 Your brother has tried to follow the steps given to him in Q.1.2 above and (9) prepared a bank reconciliation for May and has asked you to check the bank reconciliation. Identify four errors that your brother has made in the May bank reconciliation below and for each error explain to your brother what the correct treatment should be. You can assume that all amounts are correct. Bank reconciliation for IT Support Services as at 31 May 2023 C The Independent Institute of Education (Pty) Ltd 2023 Page 2 of 8 23 2023