An examination of the cash activities during the years shows the following:

Suzie has not reconciled the company's cash balance with that of the bank since the company was started. She asks summit Bank to provide her with a six-month bank statement. To save time, Suzie makes deposits at the bank only on the first day of each month.

After comparing the two balances, Suzie has some concern because the bank's balance of $50,500 is substantially less than the company's balance of $64,200.

Required:

1)Discuss any problems you see with Great Adventures' internal control procedures related to cash.