The owner of Samuelson Inc.has reason to believe that an employee has been stealing cash from the company.The employee receives cash from clients,makes the bank deposit,and also prepares the monthly bank reconciliation.To check up on the employee,the owner prepares the following bank reconciliation:
1.Does it appear the employee has stolen from the company? If so,how much? Explain your answer.
2.Which side of the bank reconciliation shows the company's TRUE cash balance?

Question

The owner of Samuelson Inc.has reason to believe that an employee has been stealing cash from the company.The employee receives cash from clients,makes the bank deposit,and also prepares the monthly bank reconciliation.To check up on the employee,the owner prepares the following bank reconciliation:
  1.Does it appear the employee has stolen from the company? If so,how much? Explain your answer.
2.Which side of the bank reconciliation shows the company's TRUE cash balance?

Quizplus · Accepted Answer

The Answer of The owner of Samuelson Inc.has reason to believe that an employee has been stealing cash from the company.The employee receives cash from clients,makes the bank deposit,and also prepares the monthly bank reconciliation.To check up on the employee,the owner prepares the following bank reconciliation:
  1.Does it appear the employee has stolen from the company? If so,how much? Explain your answer.
2.Which side of the bank reconciliation shows the company's TRUE cash balance?

The Owner of Samuelson Inc