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SHORT ANSWER #1: Fill in your responses on this page. isaitid below are seven errors or problems which might occur in the processing of cash

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SHORT ANSWER #1: Fill in your responses on this page. isaitid below are seven errors or problems which might occur in the processing of cash transactions. Also shown possible error and cite a principle that is listed that would is a list of internal control principles. Evaluate each occurring. If none of the principles given will correct the problem, write reduce the probability of the error None eIf you think more than one principle is appropriate, list all principles that apply. Internal Control Principles b. e. d. Establishment of responsibility Segregation of duties Physical controls Documentation procedures e. Independent internal verification Human resource controls An employee steals the cash collected from a customer for an account receivable and conceals this theft by 1. iss uing a credit memorandum indicating that the customer returned the merchandise. 2. A small fire destroys 3 days of cash receipts. 3. Three cashiers use c be on hand one cash register drawer and the cash in the drawer is often short of the balance that tual amount and then keeps the 4. A salesclerk in serving customers often rings up a sale for less than the ac additional cash collected from the customer 5. The official designated to sign checks is able to steal blank checks and issue them without fear of detection. 6. Each cashier counts his own register drawer each day and verbally reports the results to the supervison. 7. Cashiers with over 5 years' experience are not bonded. Using only the relevant accounts provided below, prepare a partial income statement in the multiple-step format in good form up to (and including) the Gross Profit total for Delta Company for the quarter ended March 30, 2019: Cost of Goods Sold... Interest Expense. Sales Discounts.... Sales Returns and Allowances. $55,000 1,400 15,000 2,500 3,100 ..07,000

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