4. SEGREGATION OF DUTIES Explain why each of the following combinations of tasks should or should not be separated to achieve adequate internal control. a. Approval of bad debt write-offs and the reconcil- iation of the AR subsidiary ledger and the GL control account b. Distribution of payroll checks to employees and approval of employee time cards. c. Posting of amounts from both the cash receipts and the cash disbursements journals to the gen- eral ledger. d. Writing checks to vendors and posting to the cash account. e. Recording cash receipts in the journal and pre- paring the bank reconciliation.
4. SEGREGATION OF DUTIES Explain why each of the following combinations of tasks should or should not be separated to achieve adequate internal control. a. Approval of bad debt write-offs and the reconcil- iation of the AR subsidiary ledger and the GL control account b. Distribution of payroll checks to employees and approval of employee time cards. c. Posting of amounts from both the cash receipts and the cash disbursements journals to the gen- eral ledger. d. Writing checks to vendors and posting to the cash account. e. Recording cash receipts in the journal and pre- paring the bank reconciliation.
Accounting Information Systems
10th Edition
ISBN:9781337619202
Author:Hall, James A.
Publisher:Hall, James A.
Chapter6: The Expenditure Cycle Part Ii: Payroll Processing And Fixed Asset Procedures
Section: Chapter Questions
Problem 5P
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4. SEGREGATION OF DUTIES Explain why each of the following combinations of tasks should or should not be separated to achieve adequate internal control.
a. Approval of
b. Distribution of payroll checks to employees and approval of employee time cards.
c. Posting of amounts from both the cash receipts and the cash disbursements journals to the gen- eral ledger.
d. Writing checks to vendors and posting to the cash account.
e. Recording cash receipts in the journal and pre- paring the bank reconciliation.
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