Question: Assume that Leslie Hunter accounts payable clerk for Campland Inc
Assume that Leslie Hunter, accounts payable clerk for Campland Inc., stole $185,000 by paying fictitious invoices for goods that were never received. The clerk set up accounts in the names of the fictitious companies and cashed the checks at a local bank. Describe a control procedure that would have prevented or detected the fraud.
Relevant QuestionsAbby Bergen has recently been hired as the manager of Stella’s Coffee, a national chain of franchised coffee shops. During her first month as store manager, Abby encountered the following internal control situations:a. ...The cash account for Recreational Systems at March 31, 20Y6, indicated a balance of $12,435. The bank statement indicated a balance of $27,150 on March 31, 20Y6. Comparing the bank statement and the accompanying canceled ...Revenue and expense data for the current calendar year for Garrity Electronics Company and for the electronics industry are as follows. The Garrity Electronics Company data are expressed in dollars. The electronics industry ...Three major segments of the transportation industry are motor carriers (YRC Worldwide), railroads (Union Pacific), and transportation arrangement services (C.H. Robinson Worldwide Inc.). Recent financial statement ...Starwood Hotels & Resorts Worldwide and Wyndham Worldwide Corporation are two major owners and managers of lodging and resort properties in the United States. Financial data (in millions) for a recent year for the two ...
Post your question