22 Question 1 2022 (Marks: 20) Q.1.1 Mpho cannot understand why the balance of her bank account in the general ledger (9) does not balance to the monthly bank statement that she receives from the bank. Required: Give Mpho three (3) reasons why a difference may occur between the balance of her bank account in the general ledger and the balance on the monthly bank statement. For each reason briefly explain, in your own words, why the difference arises. Provide one example of each reason. Q.1.2 For each of the following statements, indicate if the statement is true or false by completing the table below. In your answer book you need only write the number of the question and indicate whether it is true or false. For example, Q.1.2.x - True: (6) STATEMENT Q.1.2.1 Interest on current is an example of a timing difference. Q.1.2.2 Direct deposit is an example of an adjusting difference. Q.1.2.3 Bank charges is an example of a timing difference. Q.1.2.4 Interest on overdraft is an example of a timing difference. Q.1.2.5 Debit order is an example of an adjusting difference. Q.1.2.6 Bank understates a deposit on the bank statement is an example of a timing difference. The Independent Institute of Education (Pty) Ltd 2022 TRUE FALSE