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: Cash in bank according to the general ledger $6,130 Cash according to the October 31 bank statement 14,160 Outstanding checks as of October 31 4,045 Bank service charge for October 20 Note receivable, including interest collected by bank in October 6,560 No deposits were in transit on October 31. a. Determine the amount of cash receipts stolen by the sales clerk.
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: Cash in bank according to the general ledger $6,130 Cash according to the October 31 bank statement 14,160 Outstanding checks as of October 31 4,045 Bank service charge for October 20 Note receivable, including interest collected by bank in October 6,560 No deposits were in transit on October 31. a. Determine the amount of cash receipts stolen by the sales clerk.
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter5: Bank Reconciliation (bankrec)
Section: Chapter Questions
Problem 1R
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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:
| Cash in bank according to the general ledger | $6,130 |
| Cash according to the October 31 bank statement | 14,160 |
| Outstanding checks as of October 31 | 4,045 |
| Bank service charge for October | 20 |
| Note receivable, including interest collected by bank in October | 6,560 |
No deposits were in transit on October 31.
a. Determine the amount of cash receipts stolen by the sales clerk.
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