maintaining the appropriate separation of duties. The duties that have to be assigned are: а. Reconcile bank statement. b. Open mail and list checks. c. Prepare checks for Phillip's signature. d. Prepare payroll checks. Maintain personnel records. f. Prepare deposit and take to bank. g. Maintain petty cash. е. h. Maintain accounts receivable records. Maintain general ledger. j. Reconcile accounts receivable records to general ledger account. i. Requirements: 1. Assign the above tasks to the three remaining employees 2. Explain your answer to no. 1 in one paragraph, keeping in mind the idea of separation of duties.

maintaining the appropriate separation of duties. The duties that have to be assigned are: а. Reconcile bank statement. b. Open mail and list checks. c. Prepare checks for Phillip's signature. d. Prepare payroll checks. Maintain personnel records. f. Prepare deposit and take to bank. g. Maintain petty cash. е. h. Maintain accounts receivable records. Maintain general ledger. j. Reconcile accounts receivable records to general ledger account. i. Requirements: 1. Assign the above tasks to the three remaining employees 2. Explain your answer to no. 1 in one paragraph, keeping in mind the idea of separation of duties.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 3PB: Hajun Company started its business on May 1, 2019. The following transactions occurred during the...

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