Help Save & Edt Sub 1 Check any work Problem 6-1A Analyzing Internal control LO C1 ins Following are five separate cases involving internal control issues Required: 1. For each case, identify the principle(s) of internal control that is violated. Shaped b Print C Chi Han receives al incoming customer cash receipts for her employer and posts the customer payments to their respective nccounts At Tico Company, Julia and Trevor alternate lunch hours Julin is the petty cash custodian, but it someone needs petty cash when she is at lunch, Trevor fills in as custodian Nori Novrumi posts all patient charges and payments at the Hopeville Medical Clinic Each night Nori backs up the computerized accounting system but does not password lock her computer, Ben Shakes prides himself on hining quality workers who require little supervision. As office manager Ben gives employees full discretion over sks and for years has no reason to form independent reviews of their work Carla Farah's manager has told her to reduce costs. Carta decides to raise the deductible on the plant's property insurance from $5,000 to $10,000. This cuts the property insurance premium Inhalt in a related move, she decides that bonding the plant's employees is a waste of money because the company has not experienced any losses due to employee the Carla saves the entire amount of the banding Insurance premium by dropping the bonding insurance d Check my work 2 1 of 2 Required information Problem 6-4A Preparing a bank reconciliation and recording adjustments LO P3 The following information applies to the questions displayed below) The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31 ints sed book . On July 31, the company's Cash account has a $27.497 debit balance, but its July bank statement shows a $27.233 cash balance. b. Check No. 3031 for $1,482, Check No. 3065 for $382and Check No. 3069 for $2.281 are outstanding checks as of July 31. c. Check No. 3056 for July rent expense was correctly written and drawn for $1.270 but was erroneously entered in the accounting records as $1.250. d. The July bank statement shows the bank collected $7.955 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw, Branch has not yet recorded this check as NSF. t. The July statement shows a $25 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received 9. Branch's July 31 daily cash receipts of $11,514 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement Print Problem 6-4A Part 1 Required: 1. Prepare the bank reconciliation for this company as of July 31. 2 www on the July 31 bank statement ME Part 1 of 2 Problem 6-4A Part 1 Required: 10 points 1. Prepare the bank reconciliation for this company as of July 31 Skloped BRANCH COMPANY Bank Reconciliation July 31 Book balance Add: Book Bank statement balance Add: Print 0 0 0 0 Deduct Deduct 0 O Adjusted book balance Adjusted bank balance $ 0 bum 3 Check my work of 2 Required information Problem 6-4A Preparing a bank reconciliation and recording adjustments LO P3 [The following information applies to the questions displayed below) The following information is available to reconcile Branch Company's book balance of cash with its bank statement cash balance as of July 31 pod ook a. On July 31, the company's Cash account has a $27.497 debit balance, but its July bank statement shows a $27233 cash balance b. Check No. 3031 for $1.482, Check No. 3065 for $382. and Check No. 3069 for $2.281 are outstanding checks as of July 31 c. Check No 3056 for July rent expense was correctly writen and drawn for $1.270 but was erroneously entered in the accounting records as $1.250. d. The July bank statement shows the bank collected $7.955 cash on a note for Branch. Branch had not recorded this event before receiving the statement. e. The bank statement shows an $805 NSF check. The check had been received from a customer Evan Show. Branch has not yet recorded this check as NSF. t. The July statement shows a $25 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received 9. Branch's July 31 daily cash receipts of $11,514 were placed in the bank's night depository on that date but do not appear on the July 31 bank statement. int Problem 6-4A Part 2 2. Prepare the journal entries necessary to make the company's book balance of cash equal to the reconciled cash balance as of July ration event select "No lournal entry required in the first account field.) View transaction list Journal entry worksheet moints Record the adjusting entry required, if any, related to the NSF check. eBook Note: Enter debits before credits Print Transaction General Journal Debit Credit Record entry Clear entry View general journal Part 2 of 2 View transaction list 3 Doints Journal entry worksheet