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You went for a job interview as an accountant at PKP Bhd. During the interviewing session, you were asked with regards to your ability to do a reconciliation of the bank statement. In confirming your ability, the interviewer handed over the following information for 30 June 2020:
(i) The bank statement balance is RM14,070.(ii) The cash account balance is RM15,141.(iii) Outstanding checks amounted to RM2,145.(iv) Deposits in transit are RM3,060.(v) The bank service charge is RM120.(vi) A check for RM95 for supplies was recorded as RM59 in the ledger.
REQUIRED:
Question (a) Prepare the bank reconciliation statement of PKP Bhd for 30 June 2020.Question (b) Discuss any TWO (2) basic guidelines for the control of cash in a company.Question (c) State any TWO (2) policies and procedures demonstrating the primary purpose of internal control in a company.
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