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Case #4 - Benny's Ice Cream Shop: Cash Receipts Fraud Benny's Ice Cream Shop is located in downtown Eagle, Idaho, and has quickly become a
Case #4 - Benny's Ice Cream Shop: Cash Receipts Fraud Benny's Ice Cream Shop is located in downtown Eagle, Idaho, and has quickly become a popular hangout for local high school students and families. Benny is concerned that one or more of his employees is stealing from him. He asks if you will do some analysis to see if you can determine if this is true. Being an expert in using ACL, you agree to assist Benny. Following is some relevant information: Benny's gross margin has been about 71% since he began business until this past summer. In June, July, and August, the gross margin slipped significantly for no apparentreason.Monthly financial statements are included onpage 11-42. Although Benny has established a fairly sophisticated inventory system (which enabled him to detect the lower gross margin), controls over cash are weak. Most customers pay in cash an
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