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  • Alaska Impressions Co Records All Cash Receipts On The Basis

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    Miroslav Gegoski
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    Alaska Impressions Co. records cash receipts on cash register tapes but discovered a sales clerk had stolen an unknown amount of cash in October 2014 by taking deposits to the bank. By comparing the cash in the bank per the general ledger, bank statement, outstanding checks, and note receivable collected, it was determined the clerk had stolen $1,205 in cash receipts that month. Improved accounting controls around the deposit process could have prevented or detected this theft.

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    Alaska Impressions Co Records All Cash Receipts on the Basis

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    Alaska Impressions Co Records All Cash Receipts on the Basis

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    Alaska Impressions Co. records cash receipts on cash register tapes but discovered a sales clerk had stolen an unknown amount of cash in October 2014 by taking deposits to the bank. By comparing the cash in the bank per the general ledger, bank statement, outstanding checks, and note receivable collected, it was determined the clerk had stolen $1,205 in cash receipts that month. Improved accounting controls around the deposit process could have prevented or detected this theft.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    31 views1 page

    Alaska Impressions Co Records All Cash Receipts On The Basis

    Uploaded by

    Miroslav Gegoski
    Alaska Impressions Co. records cash receipts on cash register tapes but discovered a sales clerk had stolen an unknown amount of cash in October 2014 by taking deposits to the bank. By comparing the cash in the bank per the general ledger, bank statement, outstanding checks, and note receivable collected, it was determined the clerk had stolen $1,205 in cash receipts that month. Improved accounting controls around the deposit process could have prevented or detected this theft.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Alaska Impressions Co records all cash receipts on the

    basis #8172
    Alaska Impressions Co records all cash receipts on the basis

    Alaska Impressions Co. records all cash receipts on the basis of its cash register tapes. Alaska
    Impressions Co. discovered during October 2014 that one of its sales clerks had stolen an
    undetermined amount of cash receipts by taking the daily deposits to the bank.
    The following data have been gathered for October:
    Cash in bank according to the general ledger.......... $11,680
    Cash according to the October 31, 2014, bank statement..... 13,275
    Outstanding checks as of October 31, 2014.......... 3,670
    Bank service charge for October............... 40
    Note receivable, including interest collected by bank in October.. 2,100
    No deposits were in transit on October 31.
    a. Determine the amount of cash receipts stolen by the sales clerk.
    b. What accounting controls would have prevented or detected this theft?

    Alaska Impressions Co records all cash receipts on the basis

    ANSWER
    http://paperinstant.com/downloads/alaska-impressions-co-records-all-cash-receipts-on-the-
    basis/

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