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(b)The bookkeeper of Crown Traders received a bank statement from the bank showing the transactions that took place during the month of October 2020

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(b)The bookkeeper of Crown Traders received a bank statement from the bank showing the transactions that took place during the month of October 2020. He asks you what process he should follow on receipt of this statement at month-end in order to perform a bank reconciliation and why this is necessary. Briefly advise him. (2) (c) You are an accountant at Long Way Ltd. The directors of Long Way Ltd are considering the buy- back of shares and have asked you to look into the matter. Discuss and advise the directors of Long Way Ltd on the advantages and disadvantages of a company purchasing back its own shares (2) (d) A friend of yours asks you whether there is a difference between a company's profit before tax and taxable income. Briefly explain and provide an example to explain your answer. (2)