E19-11 Mary Gonzales is the controller at Automax, a car dealership. Cory Loftus has recently been hired
Question:
E19-11 Mary Gonzales is the controller at Automax, a car dealership. Cory Loftus has recently been hired as bookkeeper. Cory wanted to attend a class on Excel spreadsheets, so Mary tem- porarily took over Cory's duties, including overseeing a fund for topping up a car's gas before a test drive. Mary found a shortage in this fund and confronted Cory when he returned to work. Cory admitted that he occasionally takes advantage of his access to this fund to pay for his own gas when his finances are low. Mary estimated that the amount involved is close to $300. Required 1. What should Mary Gonzales do? 2. Would you change your answer to the previous question if Mary Gonzales was the one recently hired as controller, while Cory Loftus was a well-liked longtime employee, and he indicated that he always eventually repaid the fund?
Step by Step Answer:
Accounting
ISBN: 9780130906991
5th Edition
Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones