QUESTION 1 Bank Accounts Date Disbursed Date Deposited Question Check Number From To Amount Books Bank Books Bank 2001 City Bank 3rd National 60,000 12/28 12/31 12/28 12/28 2002 City Bank Portland 80,000 12/28 1/3 12/31 12/31 6734 1st City City Bank 42,000 1/3 12/31 12/31 12/31 3580 Portland 3rd National 75,000 1/2 1/4 12/30 12/30 2008 City Bank 3rd National 44,000 12/31 1/5 12/31 1/3 6 2009 City Bank Portland 67,000 1/1 12/31 1/1 12/31 4005 3rd National City Bank 33,000 12/31 1/4 1/5 1/5 Co 3599 Portland City Bank 56,000 12/29 12/31 1/3 12/31 As of year-end (12/31) for each of the checks above: 1. Is cash on the balance sheet overstated, understated, or properly stated? 2. If overstated or understated, would the misstatement be caught when reconciling the bank cash balance for each account to the book cash balance? 1 (check number 2001) a. Properly stated - v 2 (check number 2002) b. Overstated / would be caught by reconciliation 3 (check number 6734) c. Overstated / would not be caught by reconciliation d. Understated / would be caught by reconciliation 4 (check number 3580) e. Understated / would not be caught by reconciliation 5 (check number 2008) v 6 (check number 2009) - v 7 (check number 4005) - v 8 (check number 3599)