Answer Happy

Saved Help Critical Thinking Problem 9.2 (Algo) Cash Controls LO 9-7, 9-10 Mike Ryan is the owner of Ryan Contractors, a successful small construction company. He spends most of his time out of the office supervising work at various construction sites, leaving the operation of the office to the company's cashier/bookkeeper, Gloria Anderson. Gloria makes bank deposits, pays the company's bills, maintains the accounting records, and prepares monthly bank reconciliations. Recently a friend told Mike that while he was at a party he overheard Gloria bragging that she paid for her new clothes with money from the company's cash receipts. She said her boss would never know because he never checks the cash records. es Mike admits that he does not check on Gloria's work. He now wants to know if Gloria is stealing from him. He asks you to examine the company's cash records to determine whether Gloria has stolen cash from the business and, if so, how much. Your examination of the company's cash records reveals the following information: 4 1. Gloria prepared the following August 31, 20x1, bank reconciliation. Balance in books, August 31, 20x1 $19,327 Additions! Outstanding checks Check 1780, $1,078 2,082 Check 1784 WIR ***** Next < Prev 2 of 2 Save & Exit Submit Check my work
ent i Deductions for outstanding checks: Total outstanding checks Adjusted bank balance Balance in books Deduction: Adjusted book balance. Corrected adjusted book balance 6) $ 60 $ S $ < Prev 0 0 0 0
Help Sev Check 1590 Check 1680 $ 606 1,603 Check 1724 Check 1788 870 1,078 Check 1784 2,082 Check 1806 649 Prepare a bank reconciliation using the format presented in this chapter for the month of August. Assume there were no bank or bookkeeping errors in August. RYAN CONTRACTORS Bank Reconciliation Statement August 31, 20X1 Balance on bank statement Additions: Deductions for outstanding checks $
Netflix Drive im- Google D... ta Analysis Nine key... n TBMM de onaylana. SU YONETIM KU Saved Help 1. Gloria prepared the following August 31, 20X1, bank reconciliation. Balance in books, August 31, 20x1 Additions: $19,327 Outstanding checks Check 1780 $1,078 Check 1784 Check 1806 2,082 649 3,509 $22,836 Deductions: Deposit in transit, August 28, 20x1 $5,153 Bank service charge. 44 5,197 Balance on bank statement, August 31, 20x1 $17,639 2. An examination of the general ledger shows the Cash account with a balance of $19,527 on August 31, 20X1. 3. The August 31 bank statement shows a balance of $17,639. 4. The August 28 deposit of $5,153 does not appear on the August 31 bank statement. 5. A comparison of canceled checks returned with the August 31 bank statement with the cash payments journal reveals the checks as outstanding: $ 606 Check 1590 1.603 Check 1680 Next 2 of 2 < Prev Ignment i