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    Audit of Cash and Stuff

    Uploaded by

    Drey Studying
    The document presents bank and book balances for January and February. It shows beginning balances, receipts, disbursements, deductions for outstanding items

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    © All Rights Reserved
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    Audit of Cash and Stuff

    Uploaded by

    Drey Studying
    17 views11 pages
    The document presents bank and book balances for January and February. It shows beginning balances, receipts, disbursements, deductions for outstanding items

    Copyright

    © © All Rights Reserved

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    XLSX, PDF, TXT or read online from Scribd

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    The document presents bank and book balances for January and February. It shows beginning balances, receipts, disbursements, deductions for outstanding items

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    17 views11 pages

    Audit of Cash and Stuff

    Uploaded by

    Drey Studying
    The document presents bank and book balances for January and February. It shows beginning balances, receipts, disbursements, deductions for outstanding items

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 11

    Cash short 2,190

    Postage 420
    OS E 900
    TE 340
    CR 800
    ATOS 1,500
    Receivable from Employee 1,000
    CIB 7,150

    A PCF 2,400
    CIB 2,400

    B Cash Short 140


    OS 270
    E 124
    R&M 350
    WE 950
    Inventory/ F-in 400
    CIB 2,234

    C SS 304
    AP 914
    Inventory/ F-in 242
    ME 782
    CIB 2,242

    PCF 600
    CIB 600

    D Cash short 26
    OS 126
    ME 90
    AP 800
    Receivable from manager 1,000
    PCF 2,042

    PCF 2,042
    OS 126
    ME 90
    AP 800
    Receivable from manager 1,000
    Cash short 26

    E No Entry

    F Cash Short 26
    OS 126
    ME 90
    AP 800
    CIB 1,042
    Beginning Receipts
    Balance per bank 90,800 169,000
    DIT:
    Beginning 5,000 (5,000)
    Ending 8,000
    OC:
    Beginning (32,000)
    Ending
    Bank Error
    Bank Error
    Adjusted Bank Balance 2. 63,800 172,000

    Beginning Receipts
    Balance per book 77,900 173,000
    Credit Memo:
    Beginning 8,000 (8,000)
    Ending 7,000
    Debit Memo:
    Beginning (100)
    Ending
    Book Errors
    Check # 7159 (30k - 3k) (27,000)
    Check # 7767 (Mutilated Check) 5,000
    Adjusted Book Balance 63,800 3. 172,000

    Jan, 31 Receipts
    Balance per bank 255,000 250,000
    DIT:
    January 48,000 (48,000)
    February
    OC:
    January (65,000)
    February
    NSF Check: Redeposited (9,000)
    Adjusted Bank Balance 238,000 193,000

    Jan, 31 Receipts
    Balance per book 238,000
    Credit Memo:
    January
    February
    Debit Memo:
    January
    February
    NSF Check
    January
    February
    Adjusted Book Balance 238,000 0
    Disbursements Ending
    123,800 136,000

    8,000

    (32,000)
    7,700 (7,700)
    (1,500) 1,500
    150 (150)
    4. 98,150 5. 137,650

    Disbursements Ending
    98,100 1. 152,800

    7,000

    (100)
    150 (150)

    (27,000)
    5,000
    98,150 5. 137,650

    Disbursements Feb, 28
    389,500 115,500

    (10,000) (55,000)
    38,000 (38,000)
    (9,000)
    408,500 22,500

    Disbursements Feb, 28
    0 0
    1 Requirement Number 1
    Solution:
    Balance per bank statement
    Outstanding checks
    Undeposited collections
    Error in recording the rent check (26,400 - 24,600)
    Automatic mortgage payment
    Bank service charges
    Bank error-deposit incorrectly credited to Ian Co
    NSF check
    Balance per books

    Unadjusted Balances

    Adjusted Balances

    Unadjusted Balances
    2 Adjusted Balances

    Bank charges

    3 Requirement Number 3
    Adjusted Account Balance
    Petty Cash Fund
    Treasury Bills (400,000 x 1/2)
    Total Cash & Cash Equivalents
    equirement Number 1

    alance per bank statement 1,463,212


    utstanding checks (140,000)
    ndeposited collections 59,500
    ror in recording the rent check (26,400 - 24,600) (1,800)
    utomatic mortgage payment 45,000
    ank service charges 1,400
    ank error-deposit incorrectly credited to Ian Co (87,500)
    12,500
    alance per books 1,352,312

    Book Bank
    nadjusted Balances 90,800

    djusted Balances 0 90,800

    Cash in bank 0

    Book Bank
    nadjusted Balances 423,285 435,000
    (27,375)
    16,200

    djusted Balances 423,825 423,825

    Cash in bank 540


    ank charges #REF!
    Cash in Bank 0
    Miscellaneous Income 0

    equirement Number 3
    djusted Account Balance 0
    tty Cash Fund 8,000
    easury Bills (400,000 x 1/2) 200,000
    otal Cash & Cash Equivalents 208,000
    0 (7,700)

    (27,375)
    15,000
    4,675
    (7,700) (67,300)

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