Bank reconciliation Using bank reconciliation to determine cash receipts stolen

to the bank. The following data have been gathered for October:

No deposits were in transit on October $31.$

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

a$.$ Determine the amount of cash receipts stolen by the sales clerk.

$

b$.$ What accounting controls would have prevented or detected this theft?

Proper authorization.

Separation of duties.

Competent personnel.

Security measures.

None of these choices are correct.

The following data were accumulated for use in reconciling the bank account of Creative Design Co$.$ for August $20$Y$6$:

$1.$Cash balance according to the company's records at August $31,$ $$20,140.$

$2.$Cash balance according to the bank statement at August $31,$ $$21,260.$

$3.$Checks outstanding, $$4,090.$

$4.$Deposit in transit not recorded by bank, $$3,280.$

$5.$A check for $$480$ in payment of an account was erroneously recorded in the check register as $$840.$

$6.$Bank debit memo for service charges, $$50.$

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.