1. Agreed check to the bank cutoff statement dated 01/15/2019 as to date & amount.
2. The following items in reconciliation should have been recorded on or before 12/31:
NFS Check returned 12/29 $200
Error in check 1932,dated 11/20 $148.1
Customer note collected by bank 12/20 ($3025)
Total ($2676.9)
3. If these would have been correctly recorded, the cash balance as per the book would have been :
18375.91-2676.9 = $15699.01
4. The following management assertions are false :
Cynthia Company Bank Reconciliation December 31, 2018 Balance per bank 12/31 $ 18,375.91 a Deposits in...
Bank Reconciliation December 31, 2018 Balance per bank 12/31 $18,375 91 Deposits in Transit 12/30 12/31 $1,471.10 b 2,840.69 Outstanding Checks 6/30 837 12/15 1941 12/20 1966 12/21 1984 12/23 1985 12/28 1985 12/30 1991 6,000.00 671 80 320.00 1.855.42 3,621 22 2.576.89 4,420.88 (19,466.21) 5000 e NS check returned 12/29 200.00 d December bank Charges Error in Check 1932, dated 11/20 148.10 Customer note collected by bank, 12/21 (3,02500) Balance per book $ 1.094 59 1 Required: Determine which...
Cynthia Company Bank reconciliation which of the audit procedures listed below would most likely have been used to verify the accuracy of the amounts identified of Balance per bank December 31, 2018 Balance per bank 12/31 $18,375.91 a Deposits in Transit 12/30 1,471.10$ b 12/31 2,840.69 b 4,311.79 Outstanding Checks 6/30 837 6,000.00 c 12/15 1941 671.80 12/20 1966 320.00 12/21 1984 1,855.42 12/23 1985 3,621.22 c 12/28 1985 2,576.89 c 12/30 1991 4,420.88 c (19,466.21) NSF check returned 12/29 ...
The following client-prepared bank reconciliation is being examined by Mautz, CPA, during an audit of the financial statements of Wolfe Company: Wolfe Company Bank Reconciliation Village Bank Account 2 December 31, 2022 Balance per bank (a $ 18,375.91 Deposits in transit (b) 12/30 $1,471.10 12/31 2,840.69 4,311.79 Subtotal 22,687.70 Outstanding checks (c) 837 6,000.00 1941 671.80 1966 320.00 1984 1,855.42 1985 3,621.22 1987 2,576.89 1991 4,420.88 __419,466.21) Subtotal 3,221.49 NSF check returned 12/29 (d) 200.00 Bank charges (e) 550.00 Error...
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