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Control Matrix Review Problem Bridgeport LLC used the following procedures to process the cash received from credit sales. Customers send checks and remittance advices to

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Control Matrix Review Problem Bridgeport LLC used the following procedures to process the cash received from credit sales. Customers send checks and remittance advices to Bridgeport. The mailroom clerk at Brideport endorses the checks and writes the amount paid and the check number on the remittance advice. Periodically, the mailroom clerk prepares a batch total of the remittance advices and sends the batch of remittance advices to accounts receivable, along with a copy of the batch total. At the same time, the clerk sends the corresponding batch of checks to the cashier. In accounts receivable, a clerk enters the batch into the computer by keying the batch total, the customer number, the invoice number, the amount paid, and the check numbers into a preformatted screen. After verifying that the invoice is open and that the correct amount is being paid, the computer updates the accounts receivable master data. If there are any discrepancies, the clerk is notified that their input has been accepted. At the end of each batch (or at the end of the day), the computer prints a deposit slip in duplicate on the printer in the cashier's office. The cashier compares the deposit slip to the corresponding batch of checks and then takes the deposit to the bank. As they are entered the check number and the amount paid for each receipt are logged on a disk. These event data are used to create a cash receipts listing at the end of each day. A summary of customer accounts paid that day is also printed at this time. The accounts receivable clerk compares these reports to the remittance advices and batch totals and sends the total of the cash receipts to the general ledger office. Required: Using the above narrative and the following flowchart, populate the control matrix by identifying which control achieves each operational and information objective. Please note: A control may achieve multiple objectives and any one objective may be achieved by multiple controls. MAILROOM ACCOUNTS RECEIVABLE COMPUTER CASHIER (Customer M-2 Annotated RAS Verify, post to AR master, log on cash receipts event data Cash receipts event data RAS Key BT.customer,invoice number amount and check number Endorsed Checks Checks p.1 Print deposit slip P-2 Temp/ Endorse checks Accounts receivable master data Filed until deposit slip is received Verify accept At end of batch or end of day Write amount and check number on RA Error routine not shown Print end- of day report Annotated RAS Endorsed Checks Error routine not shown M-3 At end of day P.5 CR Total Prepare batch total for RAS Comparc Compare Endorsed Checks Deposit slip Periodically Summary of customer accounts paid General ledger office Summary of customer accounts paid Deposit slip Endorsed Checks CR listing CR listing Deposit 1 slip Control Matrix Review Problem Bridgeport LLC used the following procedures to process the cash received from credit sales. Customers send checks and remittance advices to Bridgeport. The mailroom clerk at Brideport endorses the checks and writes the amount paid and the check number on the remittance advice. Periodically, the mailroom clerk prepares a batch total of the remittance advices and sends the batch of remittance advices to accounts receivable, along with a copy of the batch total. At the same time, the clerk sends the corresponding batch of checks to the cashier. In accounts receivable, a clerk enters the batch into the computer by keying the batch total, the customer number, the invoice number, the amount paid, and the check numbers into a preformatted screen. After verifying that the invoice is open and that the correct amount is being paid, the computer updates the accounts receivable master data. If there are any discrepancies, the clerk is notified that their input has been accepted. At the end of each batch (or at the end of the day), the computer prints a deposit slip in duplicate on the printer in the cashier's office. The cashier compares the deposit slip to the corresponding batch of checks and then takes the deposit to the bank. As they are entered the check number and the amount paid for each receipt are logged on a disk. These event data are used to create a cash receipts listing at the end of each day. A summary of customer accounts paid that day is also printed at this time. The accounts receivable clerk compares these reports to the remittance advices and batch totals and sends the total of the cash receipts to the general ledger office. Required: Using the above narrative and the following flowchart, populate the control matrix by identifying which control achieves each operational and information objective. Please note: A control may achieve multiple objectives and any one objective may be achieved by multiple controls. MAILROOM ACCOUNTS RECEIVABLE COMPUTER CASHIER (Customer M-2 Annotated RAS Verify, post to AR master, log on cash receipts event data Cash receipts event data RAS Key BT.customer,invoice number amount and check number Endorsed Checks Checks p.1 Print deposit slip P-2 Temp/ Endorse checks Accounts receivable master data Filed until deposit slip is received Verify accept At end of batch or end of day Write amount and check number on RA Error routine not shown Print end- of day report Annotated RAS Endorsed Checks Error routine not shown M-3 At end of day P.5 CR Total Prepare batch total for RAS Comparc Compare Endorsed Checks Deposit slip Periodically Summary of customer accounts paid General ledger office Summary of customer accounts paid Deposit slip Endorsed Checks CR listing CR listing Deposit 1 slip

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