35 In the following situation, which internal control procedure needs strengthening? 37 Hofstra Services hired a new clerk to keep custody of and maintain all the equipment in the equipment yard. That employee has not yet been adequately trained on the maintenance needs of the equipment. A) Assignment of responsibilities B) Competent, reliable, and ethical personnel C) Separation of duties D) Documents In the following situation, which internal control procedure needs strengthening? At Hofstra Services, the junior accountant collects checks and cash from customers and records the transactions into the Journal. The controller approves the journal entries and bank reconciliations. The treasurer signs checks and approves contracts. A) Assignment of responsibilities - B) Competent, reliable, and ethical personnel C) Separation of duties D) Documents 19) In the following situation, which internal control procedure needs strengthening? Hofstra Services hired a new accountant to be responsible for the petty cash fund and the cash receipts. The newly hired employee has an accounting degree and a criminal record. A) Assignment of responsibilities B) Competent, reliable, and ethical personnel C) Separation of duties D) Documents 365 Which of the following is retained by the customer as proof of a deposit transaction? A) A deposit receipt B) A cancelled check C) A bank reconciliation D) A signature card Problems 44 points 1) A petty cash fund was established with a $300 balance. It currently has cash of $77 and petty cash tickets totaling $222 for travel expense. Please provide the journal entry to record the replenishment of the account