1. Jordan is planning to open a baseball training complex. He wants to offer memberships for the use of his facilities, sell merchandise (athletic apparel/accessories, bats, gloves, cleats, etc.), and provide a variety of instruction (hitting lessons, pitching lessons, and personal training). Provide at least 5 recommendations for good internal controls. Be very specific in order to ensure full credit. Hint: Remember internal controls are designed to 1) safeguard assets, 2) process/provide accurate informotion, and 3 ) ensure compliance with lows and regulations. 2. Identify each of the following reconciling items as (1) an addition to the bank balance, (2) a deduction from the bank balance, (3) an addition to the book balance, or (4) a deduction from the book balance. Additionally, note the items that require a journal entry by the company. a. Deposits in transit b. Bank service charges c. NSF check d. Outstanding Checks 3. Prepare a bank reconciliation for Wakiki, Inc, using the following information: 2. Identify each of the following reconciling items as (1) an addition to the bank balance, (2) a deduction from the bank balance, (3) an addition to the book balance, or (4) a deduction from the book balance. Additionally, note the items that require a journal entry by the company. a. Deposits in transit b. Bank service charges c. NSF check d. Outstanding Checks 3. Prepare a bank reconciliation for Wakiki, Inc, using the following information: 1. Jordan is planning to open a baseball training complex. He wants to offer memberships for the use of his facilities, sell merchandise (athletic apparel/accessories, bats, gloves, cleats, etc.), and provide a variety of instruction (hitting lessons, pitching lessons, and personal training). Provide at least 5 recommendations for good internal controls. Be very specific in order to ensure full credit. Hint: Remember internal controls are designed to 1) safeguard assets, 2) process/provide accurate informotion, and 3 ) ensure compliance with lows and regulations. 2. Identify each of the following reconciling items as (1) an addition to the bank balance, (2) a deduction from the bank balance, (3) an addition to the book balance, or (4) a deduction from the book balance. Additionally, note the items that require a journal entry by the company. a. Deposits in transit b. Bank service charges c. NSF check d. Outstanding Checks 3. Prepare a bank reconciliation for Wakiki, Inc, using the following information: 2. Identify each of the following reconciling items as (1) an addition to the bank balance, (2) a deduction from the bank balance, (3) an addition to the book balance, or (4) a deduction from the book balance. Additionally, note the items that require a journal entry by the company. a. Deposits in transit b. Bank service charges c. NSF check d. Outstanding Checks 3. Prepare a bank reconciliation for Wakiki, Inc, using the following information
