Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

a) Using the 2022 data provided, identify any journal entries in the Cash, A/R or A/P accounts that are in even amounts. For this exercise

image text in transcribed

a) Using the 2022 data provided, identify any journal entries in the Cash, A/R or A/P accounts that are in even amounts. For this exercise we define even amounts as anything in the 100 s. For example, $400.00;$2,700, etc. Report only round entries greater than $100.00 b) Note any entries you believe need further investigation, explain why you believe further investigation is warranted. Use the template provided and enter the entire journal entry below, Monthly round amounts -- only need to enter first month Please enter in order of journal entry number (smallest to largest) Note: Auditors examine even amount entries as they are fairly rare, and often someone stealing from a company (whether it is cash stolen, money stolen by a shell company or a fake account receivable) steals in even numbers. Hint: While this solution can be accomplished (laboriously) using the "Find" function, try some "if" and "Or" statements to identify the even entries. a) Using the 2022 data provided, identify any journal entries in the Cash, A/R or A/P accounts that are in even amounts. For this exercise we define even amounts as anything in the 100 s. For example, $400.00;$2,700, etc. Report only round entries greater than $100.00 b) Note any entries you believe need further investigation, explain why you believe further investigation is warranted. Use the template provided and enter the entire journal entry below, Monthly round amounts -- only need to enter first month Please enter in order of journal entry number (smallest to largest) Note: Auditors examine even amount entries as they are fairly rare, and often someone stealing from a company (whether it is cash stolen, money stolen by a shell company or a fake account receivable) steals in even numbers. Hint: While this solution can be accomplished (laboriously) using the "Find" function, try some "if" and "Or" statements to identify the even entries

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Audit Committee Handbook

Authors: Louis Braiotta Jr.

3rd Edition

0471345768, 978-0471345763

More Books

Students also viewed these Accounting questions

Question

5. If yes, then why?

Answered: 1 week ago

Question

6. How would you design your ideal position?

Answered: 1 week ago