Molly Maloney is an employee of Marshall Company, a small manufacturing concern. Her responsibilities include opening the

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Molly Maloney is an employee of Marshall Company, a small manufacturing concern. Her responsibilities include opening the daily mail, depositing the cash and checks received into the bank, and making the accounting entries to record the receipt of cash and the reduction of receivables. Explain how Maloney might be able to misuse some of Marshall’s cash receipts. As a consultant, what control procedures would you recommend?

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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