16-21 The following are fraud and other irregularities that might be found in the client's year-end cash balance. (Assume the balance sheet date is June 30.) 1. A cheque was omitted from the outstanding cheque list on the June 30 bank reconciliation. It cleared the bank July 7. 2. A cheque was omitted from the outstanding cheque list on the bank reconciliation. It cleared the bank September 6. 3. Cash receipts collected on accounts receivable from July 2 to July 5 were included as June 29 and June 30 cash receipts. 4. A loan from the bank on June 26 was credited directly to the client's bank account. The loan was not entered in the books as of June 30. 5. A cheque that was dated June 26 and disbursed in June was not recorded in the cash disbursements journal, but it was included as an outstanding cheque on June 30. 6. A bank transfer recorded in the accounting records on July 2 was included as a deposit in transit on June 30. 7. The outstanding cheques on the June 30 bank reconciliation were underfooted by $2000. REQUIRED a. Assuming that each of these misstatements was intentional, state the most likely motivation of the person responsible. b. What control could be instituted for each intentional misstatement to reduce the likelihood of occurrence? c. List an audit procedure that could be used to discover each misstatement