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EX 8-23 Using bank reconciliation to determine cash receipts stolen Alaska Impressions Co. records all cash receipts on the basis of its cash register tapes. Alaska Impressions Co. discovered during October that one of its salesclerks had stolen an undetermined amount of cash receipts while taking the daily deposits to the bank. The following data have been gathered for October: OBJ. 2, 3, 5 $11,680 Cash in bank according to the general ledger Cash according to the October 31 bank statement Outstanding checks as of October 31 Bank service charge for October Note receivable, including interest collected by bank in October 13,275 3,670 40 2,100 No deposits were in transit on October 31. a. Determine the amount of cash receipts stolen by the salesclerk.

EX 8-23 Using bank reconciliation to determine cash receipts stolen Alaska Impressions Co. records all cash receipts on the basis of its cash register tapes. Alaska Impressions Co. discovered during October that one of its salesclerks had stolen an undetermined amount of cash receipts while taking the daily deposits to the bank. The following data have been gathered for October: OBJ. 2, 3, 5 $11,680 Cash in bank according to the general ledger Cash according to the October 31 bank statement Outstanding checks as of October 31 Bank service charge for October Note receivable, including interest collected by bank in October 13,275 3,670 40 2,100 No deposits were in transit on October 31. a. Determine the amount of cash receipts stolen by the salesclerk.

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Internal Control And Cash
Section: Chapter Questions
Problem 7.21EX
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EX 8-23 Using bank reconciliation to determine cash receipts stolen Alaska Impressions Co. records all cash receipts on the basis of its cash register tapes. Alaska Impressions Co. discovered during October that one of its salesclerks had stolen an undetermined amount of cash receipts while taking the daily deposits to the bank. The following data have been gathered for October: OBJ. 2, 3,5 Cash in bank according to the general ledger Cash according to the October 31 bank statement Outstanding checks as of October 31 Bank service charge for October Note receivable, including interest collected by bank in October $11,680 13,275 3,670 40 2,100 No deposits were in transit on October 31. a. Determine the amount of cash receipts stolen by the salesclerk.
Transcribed Image Text:EX 8-23 Using bank reconciliation to determine cash receipts stolen Alaska Impressions Co. records all cash receipts on the basis of its cash register tapes. Alaska Impressions Co. discovered during October that one of its salesclerks had stolen an undetermined amount of cash receipts while taking the daily deposits to the bank. The following data have been gathered for October: OBJ. 2, 3,5 Cash in bank according to the general ledger Cash according to the October 31 bank statement Outstanding checks as of October 31 Bank service charge for October Note receivable, including interest collected by bank in October $11,680 13,275 3,670 40 2,100 No deposits were in transit on October 31. a. Determine the amount of cash receipts stolen by the salesclerk.
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