Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 50

Each of the following measures strengthens internal control over cash receipts except:
a.actoring accounts receivable.
b.reparation of a daily listing of all checks received through the mail.
c.he deposit of cash receipts in the bank on a daily basis.
d.he use of cash registers.
Use the following data for questions 4 and 5:
Quinn Company's bank statement at January 31 shows a balance of $13,360, while the ledger account for Cash in Quinn's ledger shows a balance of $12,890 at the same date.he only reconciling items are the following:
• Deposit in transit, $890.
• Bank service charge, $24.
• NSF check from customer Greg Denton in the amount of $426.
• Error in recording check no.89 for rent: check was written in the amount of $1,320, but was recorded improperly in the accounting records as $1,230.
• Outstanding checks, $