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P7-26A P7-29A P7-30A

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P7-26A Correcting internal control weakness [10–20 min]

Each of the following situations has an internal control weakness.

a. Upside – Down Applications develops custom programs to customer’s specifications. Recently, development of a new program stopped while the programmers redesigned Upside – Down’s accounting system. Upside – Down’s accountants could have performed this task.

so on ...

P7-29A Identifying internal control weakness in cash receipts [10–15 min]

Two Brother Productions makes all sales on credit. Cash receipts arrive by mail. Justin
Broaddus in the mailroom opens envelopes and separates the checks from the accompanying
remittance advices. Broaddus forwards the checks to another employee, who
makes the daily bank deposit but has no access to the accounting records.

so on ....

P7-30A Accounting for petty cash transactions [20–30 min]

On June 1, Bash Salad Dressings creates a petty cash fund with an imprest balance
of $450. During June, Al Franklin, the fund custodian, signs the following petty
cash tickets:

Petty Cash Ticket Number
101 office supplies $15
102 Cab fare for exercise 10

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