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(c) Patapaa Transporters Bank and cash You are the external auditor of Patapaa Transporters, a public limited company. The companys year-end is 31 December. The bank and cash figure included in Patapaa Transporters draft financial statements is comprised of a number of bank account balances. The finance director has informed you that all accounts have been reconciled as at the year end. The following is a reconciliation statement of one of the accounts. Patapaa Transporters Bank reconciliation as at 31 December 2019 GHC Balance per cash book (180,345.22) Add Unpresented cheques 2,223.46 Less Outstanding lodgements (1 ,600.34) Difference 1.34 Balance per bank statement (179,720.76) Required: Describe the substantive procedures the auditor should perform to verify the bank and cash balance of Patapaa Transporters. <\/p>
NB:All figures are in Ghana cedis <\/p>", "transcribed_text": "", "related_book": { "title": "Financial Accounting An Integrated Statements Approach", "isbn": "324312113, 978-0324312119", "edition": "2nd Edition", "authors": "Jonathan E. Duchac, James M. Reeve, Carl S. Warren", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/126.jpg", "uri": "\/textbooks\/financial-accounting-an-integrated-statements-approach-2nd-edition-126", "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-19 00:18:35", "see_more_questions_link": "\/study-help\/questions\/business-business-communication-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/introduction-to-software-engineering\/time-hours-or-days-elapsed-from-completion-of-evaluation-to-2032207", "description": "Time (hours or days) elapsed from completion of evaluation to assignment of change order to personnel, teval.", "stars": 0 }, { "url": "\/after-watching-the-video-on-interest-rates-at-the-european", "description": "After watching the video on interest rates at the European Central Bank, discuss the following: 1. How will the rise in interest rates affect FDI for these euro zone countries? 2. What reasons can...", "stars": 3 }, { "url": "\/study-help\/questions\/c-patapaa-transporters-bank-and-cash-you-are-the-external-11706213", "description": "(c) Patapaa Transporters Bank and cash You are the external auditor of Patapaa Transporters, a public limited company. The companys year-end is 31 December. The bank and cash figure included in...", "stars": 3 }, { "url": "\/study-help\/questions\/fausto-fabricators-inc-uses-a-standard-cost-systemthe-standards-established-4424191", "description": "Fausto Fabricators Inc. uses a standard cost system.The standards established for the product include the following: Materials = 8 pounds @ $0.50 per pound Labor = 6 hours @ $10.00 per hour The...", "stars": 3 }, { "url": "\/study-help\/questions\/250-m-c-b-a-520-m-650-m-1057084", "description": "25.0 m C B A 52.0 m 65.0 m", "stars": 3 }, { "url": "\/study-help\/questions\/explain-the-difference-between-traditional-square-of-opposition-and-modern-1056633", "description": "Explain the difference between traditional square of opposition and modern square of oppositions.", "stars": 3 }, { "url": "\/study-help\/questions\/becton-labs-produces-a-variety-of-chemical-compounds-for-industrial-1009226", "description": "Becton Labs produces a variety of chemical compounds for industrial uses. The standard mix for February's production of 80,000 litres of Product \"X\" and the budgeted costs, are as follows: Liquid...", "stars": 3 }, { "url": "\/study-help\/questions\/q2-a-jute-packaging-unit-has-planned-production-of-4950-1056977", "description": "Q2) A jute packaging unit has planned production of 4950 kg of jute to be sold six months later. The spot price is 1940 per kg while six months futures are trading at 1880. The firm expects the price...", "stars": 3 }, { "url": "\/study-help\/questions\/scare2bu-s2bu-specializes-in-costumes-for-all-occasions-the-average-1008614", "description": "Scare-2-B-U (S2BU) specializes in costumes for all occasions. The average price of each of its costumes is $310. For each occasion, S2BU receives a 30 percent deposit two months before the occasion,...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/leduc-construction-ltd-had-60000-common-shares-and-20000-1-11706212", "next": "\/study-help\/questions\/manufacturing-overhead-for-the-month-was-underapplied-by-6000-the-11706214" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "(c) Patapaa Transporters Bank and cash You are the external auditor of", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/c-patapaa-transporters-bank-and-cash-you-are-the-external-11706213" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }}