QUESTION 4 (15 MARKS: 36 MINTUES)

Barduck Brendom Enterprise (BBE) has just received its bank statement from the Al-Rimau Bank indicating a balance of RM13,950 on 31 March 2021. When comparing the cashbook record against the bank statement, the following items were gathered:

1. The following cheques are still outstanding:

Cheque No.	Amount (RM)
337	225
388	375
391	1375
394	1575
395	475

2. The statement showed receipt of electronic fund transfer (EFT) of RM3,750 from a new client.
3. The bank has incorrectly charged RM1,250 for a check drawn on Bareduck Brendon. BBE has notified the bank about this error.
4. The bank included two deposits that BBE has not recorded yet: RM2,125 for dividend revenue and RM75 for the profit revenue BBE earned on its bank balance during March.
5. On 31 March, a cash deposit of RM800 was made through the cash deposit machine (CDM) just before midnight.
6. The bank statement listed a bank service charge for March amounted to RM25.
7. A check for RM1,200 from Koh Chee Enterprise was returned by the bank due to insufficient funds.
8. Barduck Brendom Enterprise account shows a balance of RM7,250 on 31 March.

REQUIRED:

1. Prepare a Bank Reconciliation Statement as of 31 March 2021.

(6 Marks)

2. Prepare the necessary journal entries (explanation is not required).

(2 Marks)

(c) Explain FOUR (4) measures required to accomplish a good internal control.

(4 Marks)

3. Petty cash is part of the internal control procedures present in most organizations. Explain the THREE (3) components of control embedded in the petty cash system.

(3 Marks)