Question 2 Question 2 (20 marks) A. The missing internal control procedures are as follows: Internal control procedures were overlooked in several different situations 1 2. 3 4 5 Required: Identify the internal control procedures that were overlooked in the following situations. If writing other controls" is applicable, justify your position. 1. A charity golf tournament is held every year to raise funds. The charity raises over $15,000 a year. The organizer's 16-year-old son is hired to sell tickets, and he also handles the cash collected 2. Ice Cream Gallery deposited cash in the bank several times throughout the day Ice Cream Gallery's supervisor wanted to decrease the time that the employees spent going to the bank to deposit the cash. Consequently, the supervisor began a new schedule, whereby the cash was kept at Ice Cream Gallery, and all of the cash was deposited only once a week, on Monday 3. During your wodit of a business, you disclose that the same employee who ordered merchandise sopproved the invoices for payment 4. Fast Football Club's bookkeeper was elected for a fifth term to run all the financial matters of the club. Bxcellent internal controls were in place, since the president and secretary had signing authority 5. The local comer store had the same trusted employee serve as cashier for over 15 years. 6. At one department store, the manager was determined to cut down paperwork. The receiving department employee would no longer prepare a receiving report, which summarwed the amounts of items received from the supplier 7. Business was slow at the local theatre on Wednesday and Thursday nights. To slash couts, the proprietor decided not to use a ticket take on those nights. The cashier who sold the tickets was told to hold onto the tickets, as those tickets represented the number of tickets sold 6 Page 317 43 of 1236 words Focus 115% 400 words Focus Question 2 Question 2 (20 marks) A. The missing internal control procedures are as follows: Internal control procedures were overlooked in several different situations 1 2. 3 4 5 Required: Identify the internal control procedures that were overlooked in the following situations. If writing other controls" is applicable, justify your position. 1. A charity golf tournament is held every year to raise funds. The charity raises over $15,000 a year. The organizer's 16-year-old son is hired to sell tickets, and he also handles the cash collected 2. Ice Cream Gallery deposited cash in the bank several times throughout the day Ice Cream Gallery's supervisor wanted to decrease the time that the employees spent going to the bank to deposit the cash. Consequently, the supervisor began a new schedule, whereby the cash was kept at Ice Cream Gallery, and all of the cash was deposited only once a week, on Monday 3. During your wodit of a business, you disclose that the same employee who ordered merchandise sopproved the invoices for payment 4. Fast Football Club's bookkeeper was elected for a fifth term to run all the financial matters of the club. Bxcellent internal controls were in place, since the president and secretary had signing authority 5. The local comer store had the same trusted employee serve as cashier for over 15 years. 6. At one department store, the manager was determined to cut down paperwork. The receiving department employee would no longer prepare a receiving report, which summarwed the amounts of items received from the supplier 7. Business was slow at the local theatre on Wednesday and Thursday nights. To slash couts, the proprietor decided not to use a ticket take on those nights. The cashier who sold the tickets was told to hold onto the tickets, as those tickets represented the number of tickets sold 6 Page 317 43 of 1236 words Focus 115% 400 words Focus