The following information is from the bank transfer schedule prepared during the audit of Fox Co.s financial

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The following information is from the bank transfer schedule prepared during the audit of Fox Co.’s financial statements for the year ended December 31, 2018. Assume all checks were dated and issued on December 30, 2018.

Check No. 101 202 303 404 Bank Accounts From National County Federal State To Federal State State County

a. Which of the checks might indicate kiting?

b. Which of the checks illustrates deposits/transfers in transit on December 31, 2018?

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Auditing A Risk Based Approach

ISBN: 9780357721872

12th Edition

Authors: Karla M Johnstone-Zehms, Audrey A. Gramling, Larry E. Rittenberg

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Question Posted: Sep 22, 2023 03:22 PM

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The following information is from the bank transfer schedule prepared during the audit of Fox Co.s financial

Question:

Check No. 101 202 303 404 Bank Accounts From National County Federal State To Federal State State County Disbursement Date Per Bank Jan. 4 Jan. 2 Jan. 3 Jan. 2 Per Books Dec. 30 Jan. 3 Dec. 31 Jan. 2 Receipt Date Per Books Dec. 30 Dec. 30 Jan. 2 Jan. 2 Per Bank Jan. 3 Dec. 31 Jan. 2 Dec. 31

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Auditing A Risk Based Approach

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