please I must say that you have been helping me. God richly bless you. sometimes I wish I can give u more thumbs up.

please one of my question is not answered kindly help me with it.

Question 6 On October 15 of the current year, Kofi kum who owns the Small Business, asks you to investigate the cash-handling activities in his fim. He thinks that an employee might be abstracting funds. "I have no proof," he says, "but I'm fairly certain that the September 30 undeposited receipts amounted to more than GHS 7,500, although the September 30 bank reconciliation prepared by the cashier shows several cheques that have been outstanding for long time. The cahier told me that these cheques need not appear on the reconciliation because he had notified the bank to stop payment on them and had made the necessary adjustment on the books. Does that sound reasonable to you? At your request, Small Business shows you the following September 30 bank reconciliation prepared by the cashier Bank Reconciliation September 30 GHS GHS GHS GHS 25,446.89 Balance as per bank statement Add: Deposits in transits 19,250.25 Balance as per books 25,544.68 e3s Outstanding cheques: No. 451 No. 453 No. 454 e3s Bank service charge Unrecorded credit 15 800815.00 330.71 256.80 235.28 24,631.89 Adjusted balance Adjusted balance 24,631.89 You discover that the GHS 800 unrecorded bank credit represents a note collect by the bank on Small's behalf, it appears in the deposits column of the September bank statement. Your investigation also reveals that the August 31 bank reconciliation showed three cheques that had been outstanding longer than 10 months: No.432 for GHS 156; No. 458 for GHS 270; and No 412 for GHS 283.50. You also discover that these items were never added back into the cash Page 4 of 17 account in the books. In confirming that the cheques shown on the cashier's September 30 bank reconciliation were outstanding on the date, you discover that cheque No.453 was actually a payment of GHS 526.80 and had been recorded on the books for that amount. To confirm the amount of undeposited receipts at November 30, you request a bank statement for November 1-12 (called "a cut-off" bank statement). This indeed shows a December 1 deposit of GHS 5,294.43 Required (i)Calculate the amount of funds abstracted by the cashier (ii) Describe how the cashier concealed the abstraction (iii) What suggestions would you make to Kofi Kum about cash control procedures