sent. How soon can you finish it?

Problem 5.62 Separation of Duties. Your small business client, Phillip's computer Repair Shop, is experiencing financial difficulties and has to lay off one of its four employees in the accounting area. Phillip has asked you to determine what duties should be assigned to the three remaining employees-Abigail, Bryan, and Chris-to maintain the best separation of duties. Required: Assign the following 10 duties to each of the three employees. a. Reconcile bank statement. b. Open mail and list checks c. Prepare checks for Phillip's signature d. Prepare payroll checks e. Maintain personal records f. Prepare deposit and take to bank g. Maintain petty cash h. Maintain accounts receivable records i. Maintain general ledger j. Reconcile accounts receivable to general ledger account Problem 5.63 Type of Audit Tests. Indicate whether each of the following audit procedures is a test of controls, a substantive test, or dual-purpose test. Next, indicate the financial statement assertion most closely related to each audit procedure. a Vouch recorded sales invoices to supporting shipping documents b inspect recorded sales invoices for credit approval c Vouch recorded sales invoices prices to the approved price list d send confirmations to all customers regarding accounts receivable e Recalculate the arithmetic accuracy of the recorded sales invoices f compare the shipment date of recorded sales invoices with the invoice record date g trace recorded sales invoices to posting in the general ledger control account and in the correct customer's account h Select a sample of shipping documents from the shipping department file and trace shipments to recorded sales invoices i scan recorded sales invoices and shipping documents for missing numbers in sequence j vouch sales invoices and shipping documents k Evaluate the adequacy of the allowance for doubtful accounts l Obtain financial statements or credit reports on large past due accounts and inquire of the credit manager about collections m Calculate an estimate of the allowance for doubtful accounts using prior relations of write-offs and sales Problem 5.68 Internal control questionnaire items: Errors that could occur from control weaknesses. Refer to the internal control questionnaire on a payroll system (Exhibit 5.11) a Assume that answer to each question is no. Prepare a table matching the questions to errors or frauds that could occur because of the absence of the control. Your column headings should be Question Possible Error or Fraud Due to weakness B Which controls are preventive controls and which are detective