EP AUDITING+ASSURANCE...-MYACCT.LAB
16th Edition
ISBN: 9780134148656
Author: ARENS
Publisher: PEARSON CO
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Question
Chapter 23, Problem 20DQP
a.
To determine
State the appropriate
b.
To determine
Prepare
c.
To determine
Prepare adjusting entries in the branch bank records.
d & e
To determine
Explain the manner in which bank transfer must be included in the December 31, 2016, bank reconciliation of the branch bank account after the adjustments in part c.
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Identify the internal control procedures applicable to cash receipts for Ferguson Company in each of the following cases.
1.
All cashiers are bonded.
Documentation Procedures
Physical Controls
Segregation of Duties
Establishment of Responsibility
Human Resource Controls
2.
The treasurer compares the total cash receipts to the bank deposit daily.
Independent Internal Verification
3.
The bookkeeper records cash receipts, which are held by the treasurer.
4.
Only the treasurer holds cash receipts.
5.
Deposit slips are completed for each deposit.
In your audit of Ginko Company, you have received a cash confirmation and a cutoff statement from the bank on Ginko’s one bank account. Prepare a list of substantive procedures for Ginko’s cash
Upon receipt of customers’ checks in the mail room, a responsible employee should prepare a remittance list that is forwarded to the cashier. A copy of the list should be sent to thea. Internal auditor to investigate the list for unusual transactions.b. Treasurer to compare the list with the monthly bank statement.c. Accounts receivable bookkeeper to update the subsidiary accounts receivable records.d. Entity’s bank to compare the list with the cashier’s deposit slip.
Chapter 23 Solutions
EP AUDITING+ASSURANCE...-MYACCT.LAB
Ch. 23 - Explain the relationships among the initial...Ch. 23 - Prob. 2RQCh. 23 - Prob. 3RQCh. 23 - Prob. 4RQCh. 23 - Prob. 5RQCh. 23 - Prob. 6RQCh. 23 - Prob. 7RQCh. 23 - Prob. 8RQCh. 23 - Prob. 9RQCh. 23 - Prob. 10RQ
Ch. 23 - Prob. 11RQCh. 23 - Prob. 12RQCh. 23 - Prob. 13RQCh. 23 - Prob. 14.1MCQCh. 23 - Prob. 14.2MCQCh. 23 - Prob. 14.3MCQCh. 23 - Prob. 15.1MCQCh. 23 - Prob. 15.2MCQCh. 23 - Prob. 15.3MCQCh. 23 - Prob. 16.1MCQCh. 23 - Prob. 16.2MCQCh. 23 - Prob. 16.3MCQCh. 23 - Prob. 17DQPCh. 23 - Prob. 18DQPCh. 23 - Prob. 19DQPCh. 23 - Prob. 20DQPCh. 23 - Prob. 21DQPCh. 23 - You are doing the first-year audit of Sherman...Ch. 23 - Prob. 23DQPCh. 23 - McNeil Company, a medium-sized manufacturer of...Ch. 23 - The amount of subjectivity involved in...
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