connect ensure reliable ate each of the wes of an inter- reduce theft Nan Company deposits all cash receipts on the day when they are received and it makes all cash pay by check. At the close of business on June 30, its Cash account shows a $22.352 debit balance. Na June 30 bank statement shows $21,332 on deposit in the bank. Prepare a bank reconciliation for P3 company using the following information Outstanding checks as of June 30 total $3,713. The June 30 bank statement lists $41 in bank service charges, the company has not yet recorded the cost of these services. In reviewing the bank statement, a $90 check written by the company was mistakenly recorded in the company's books at $99. June 30 cash receipts of $4,724 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement The bank statement included a S23 credit for interest earned on the company's cash in the bank. Ascotrepreneur commented that a bank reconciliation may not be necessary as she regularly reviews her QS 6-7 OS 66 Bank reconciliation Reviewing bank statements P3 against theft 6 ng an opera theft. departments ey to herself eine bank statement for any unusual items and errors. Describe how a bank reconciliation and an online review (or reading) of the bank statement are not Identify and explain at least two frauds or errors that would be uncovered through a bank reconcilia- son and that would nor be uncovered through an online review of the bank statement. equivalent. k accounts, The following annual account balances are taken from Armour Sports at December 31. QS 6-8 Days' sales uncollected A1 Year 2 Year 1 convertible t sensitive Accounts receivable Net sales $ 100,000 2.500.000 $ 85,000 2,000,000 ceipts and rotection monthly. What is the change in the number of days' sales uncollected between Year 1 and Year 2? (Round the num- ber of days to one decimal.) According to this analysis, is the company's collection of receivables improv- ny? Explain. stody of QS 6-9 Documents in a voucher Management uses a voucher system to help control and monitor cash disbursements. Which one or more orthe four documents listed below are prepared as part of a voucher system of control? b. Outstanding check .c. Invoice d. Voucher system P4 2. Purchase order connect ensure reliable ate each of the wes of an inter- reduce theft Nan Company deposits all cash receipts on the day when they are received and it makes all cash pay by check. At the close of business on June 30, its Cash account shows a $22.352 debit balance. Na June 30 bank statement shows $21,332 on deposit in the bank. Prepare a bank reconciliation for P3 company using the following information Outstanding checks as of June 30 total $3,713. The June 30 bank statement lists $41 in bank service charges, the company has not yet recorded the cost of these services. In reviewing the bank statement, a $90 check written by the company was mistakenly recorded in the company's books at $99. June 30 cash receipts of $4,724 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement The bank statement included a S23 credit for interest earned on the company's cash in the bank. Ascotrepreneur commented that a bank reconciliation may not be necessary as she regularly reviews her QS 6-7 OS 66 Bank reconciliation Reviewing bank statements P3 against theft 6 ng an opera theft. departments ey to herself eine bank statement for any unusual items and errors. Describe how a bank reconciliation and an online review (or reading) of the bank statement are not Identify and explain at least two frauds or errors that would be uncovered through a bank reconcilia- son and that would nor be uncovered through an online review of the bank statement. equivalent. k accounts, The following annual account balances are taken from Armour Sports at December 31. QS 6-8 Days' sales uncollected A1 Year 2 Year 1 convertible t sensitive Accounts receivable Net sales $ 100,000 2.500.000 $ 85,000 2,000,000 ceipts and rotection monthly. What is the change in the number of days' sales uncollected between Year 1 and Year 2? (Round the num- ber of days to one decimal.) According to this analysis, is the company's collection of receivables improv- ny? Explain. stody of QS 6-9 Documents in a voucher Management uses a voucher system to help control and monitor cash disbursements. Which one or more orthe four documents listed below are prepared as part of a voucher system of control? b. Outstanding check .c. Invoice d. Voucher system P4 2. Purchase order
