Question
Develop an audit program for verifying cash balances at Johnson & Johnson Inc. based on the following bank reconciliation: Item Amount ($) Balance per Bank
Develop an audit program for verifying cash balances at Johnson & Johnson Inc. based on the following bank reconciliation:
Item | Amount ($) |
Balance per Bank Statement | $80,000 |
Add: Deposits in Transit | $20,000 |
Less: Outstanding Checks | $15,000 |
Adjusted Bank Balance | $85,000 |
Balance per Books | $85,000 |
Perform procedures to confirm the accuracy and completeness of cash.
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Managerial Accounting for Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
4th edition
1259578542, 978-1259578540
