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Question 1. Gary's Motors purchases high-performance auto parts from a Winnipeg vi Joel Sieben, the accountant for Gary's, verifies receipt of merchandise anc prepares, signs,

Question 1. Gary's Motors purchases high-performance auto parts from a Winnipeg vi Joel Sieben, the accountant for Gary's, verifies receipt of merchandise anc prepares, signs, and mails the cheque to the vendor.

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  1. Identify the internal control weakness over cash payments in this sc
  2. What could the business do to correct the weakness. Question 2. In the months of February and March, Apex Ski Shop wrote and journalized cheques in the amount of $6.532 and $9.764. respectively. Of these cheques, $5,220 cleared the bank in February and $8,223 cleared the bank in March. What is the amount of outstanding cheques at the end of February and at the end of March?

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