Identify each of the following as related to (a) the control environment, (b) risk assessment, or (c) control procedures.

1.Mandatory vacationsSelect

a

b

c

2.Personnel policiesSelect

a

b

c

3.Report of outside consultants on future market changesSelect

a

b

c

Classify the following as either Current Assets (CA), Investments (I), or both (CA and I).

a.Trade ReceivablesSelect

CA

I

CA and I

b.Note Receivable due in 30 daysSelect

CA

I

CA and I

c.Interest Receivable on note due in 30 daysSelect

CA

I

CA and I

d.Note Receivable due in 2 yearsSelect

CA

I

CA and I

e.Five-year Note Receivable due in a series of equal annual paymentsSelect

CA

I

CA and I

_______________________________________________________________________

Current Assets section of a balance sheet using some or all of the following accounts:

Cash

Property, Plant, and Equipment

Accounts Receivable

Notes Receivable--90-day note

Merchandise Inventory

Allowance for Doubtful Accounts

Interest Receivable

Prepaid Advertising

Sales Returns and Allowances

Select Current Assets:

1.)

2.)

3.)

4.)

5.)

6.)

7.)

_______________________________________________________________________

Using the following information,do a bank reconciliation for Hydrope Co. for May 31, 2015.

1. The bank statement balance is $3,712.
2. The cash account balance is $3,790.
3. Outstanding checks amounted to $850.
4. Deposits in transit are $845.
5. The bank service charge is $45.
6. Interest added to the checking account by the bank is $15.
7. A check drawn for $45 was incorrectly charged by the bank as $98.

___________________________________________________________

Do a bank reconciliation for Hydrope Co. for May 31, 2015.

Hydrope Co.

Bank Reconciliation

May 31, 2015

$

$

$

$

$

$

$

$