Evaluating Internal Control of Cash

The following procedures were recently installed by Raspberry Creek Company:

After necessary approvals have been obtained for the payment of a voucher, the treasurer signs and mails the check. The treasurer then stamps the voucher and supporting documentation as paid and returns the voucher and supporting documentation to the accounts payable clerk for filing.

The accounts payable clerk prepares a voucher for each disbursement. The voucher along with the supporting documentation is forwarded to the treasurer's office for approval.

Along with petty cash expense receipts for postage, office supplies, etc., several postdated employee checks are in the petty cash fund.

At the end of the day, cash register clerks are required to use their own funds to make up any cash shortages in their registers.

At the end of each day, all cash receipts are placed in the bank's night depository.

At the end of each day, an accounting clerk compares the duplicate copy of the daily cash deposit slip with the deposit receipt obtained from the bank.

All mail is opened by the mail clerk, who forwards all cash remittances to the cashier. The cashier prepares a listing of the cash receipts and forwards a copy of the list to the accounts receivable clerk for recording in the accounts.

The bank reconciliation is prepared by the cashier, who works under the supervision of the treasurer.

Required:

Indicate whether each of the procedures of internal control over cash listed above represents (1) a strength or (2) a weakness.

Evaluating Intermal Contral of Cash The folowing pocecdures were recently Instaliod by Raspbarry Crack Campary: filing. c. Aleng with petty cash pxpence recpipts for postage, affica suppliak, etc., spveral postdated amplopea cherks aire in the petty casth fund. d. At the end of the day, cash negister clerks ane required to ure their uwn funds to make up any cash shortages in their registers. e. At the end of esch day, al cash receipts are placed in the bank's night depostory. t. At the end of esch day, sn accounting derk compares the duplicate copy of the dally cash depasit slip with the depoalt recelpt obtained from the bank. h. The bank recercilistion is prepered by the cashier, who works under the supervisian af the treasurer. Reuired; Indicate whether each of the procedses of internal contral coer cash Fsted abave repregents (1) a strength ar (2y a weakress. Item Strength Weakness a. b. c. d. e. f. a. h