Instructions: You are the manager on the audit of XYZ Company LLC. Review the following cash workpaper. Create a note to your staff accountant about the deficiencies you find in the workpaper. It can be narrative or bullet point in form but should be constructive and instructive.

The Widget Company LLC Cash Reconciliation 12/31/2016 Balance per bank statement Add: Deposits in transit Less: O/S Checks, see list below Balance per books Debit memo charged by bank Deposit in transit: Date per Date per Client Bank Amount 12/14 1/2 5,500.00 A 12/18 1/2 5,500.00 A 12/22 1/2 5,500.00 A 1/3 6,550.00 T 12/29 12/30 1/4 9,000.00 T 32,050.00 A Why so long to clear? C Per bank confirmation T Traced to bank statement C Examined cancelled checks Prepared by Reviewed by 318,010.00 C 32,090.00 (153,450.00) C 196,650.00 1,120.00 195,530.00 W/P No: PBC