Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The entity prepared the bank reconciliaton on 10/3/2013 The bank reconciliation is mathematically accurate. . The auditor received a cutoff bank statement dated 10/712013 directly

image text in transcribed
image text in transcribed
The entity prepared the bank reconciliaton on 10/3/2013 The bank reconciliation is mathematically accurate. . The auditor received a cutoff bank statement dated 10/712013 directly from the bank on 10/12/2013 . The 9/30/2013 deposit in transit, outstanding checks 1281, 1285, 1289, and 1292; and the correction of the error regarding check 1282 appear on the cutoff bank statement . The auditor set control risk concerning the inancial statement assertions related to cash at the maximum. Balance per books (Select one procedure.) ua) Compare to 9/30/2013 general ledger B) Trace to cash receipts journal. Directly confirm with bank o Vouch items on the cutoff statement to bank reconciliation. ut Vouch items on bank reconciliation to cutoff statement Trace to cash disbursements journal. Ascertain reason for unusual delay un Inspect supporting documents for reconciling item not appearing on cutoff statement Outstanding checks (Select five procedures) A) Drecty confirm with bank 5) vouch items on the cutoff statement 10 bank reconciliation. c Trace to cash disbursements journal Compare to 9/30/2013 general ledger ani Vouch items on bank reconciliation to cutoff statement un Trace to cash receipts journal Inspect supporting documents for reconciling item not appearing on cutoff statement Ascertain reason for unusual delay Deposits in transit (Select five procedures.) Trace to cash disbursements journal. o) Ascertain reason for unusual delay c Vouch items on bank reconciliation to cutoff statement Trace to cash receipts journal n Directly confirm with bank n Vouch items on the cutoff statement to bank reconciliation. aCompare to 9/30/2013 general ledger o Inspect supporting documents tor reconciling iem not appeaning on cutoff statement Balance per bankiSelect two procedures.) A Inspect supporting documents for reconciling item not appearing on cutoff statement s Trace to cash disbursements journal a Compare to 9/30/2013 general ledget Ascertain reason for unusual delay c Trace to cash receipts journal n Vouch items on bank reconciliation to cutoff statement Directy confirm with bank. Vouch items on the cutoff statement to bank reconciliaion Error (Select one procedure.) Vouch items on bank reconciliaton to cutoff statement Inspect supporting documents for reconciling item not appeanng on cutomataternent o Vouch items on the cutom statement to bank reconciliation. Compare to 9/30/2013 general ledger e Ascertain reason for unusual delay Trace to cash receipts journal . G. Durecity confirm with bank

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Linguistic Auditing

Authors: Nigel Reeves, Colin Wright

1st Edition

1853593281, 978-1853593284

More Books

Students also viewed these Accounting questions

Question

7. What decisions would you make as the city manager?

Answered: 1 week ago

Question

8. How would you explain your decisions to the city council?

Answered: 1 week ago