What is cheque kiting? How might auditors detect kiting?
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Cheque kiting is the practice of building up apparent balances in one or more bank accounts based on uncollected float cheques drawn against similar a...View the full answer
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Related Book For
Auditing An International Approach
ISBN: 978-0071051415
6th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
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The correct entry should be Debit: Armstrong, Capital $48,000 Credit: Cash $58,000 Debit: Jackson, Capital $5,000 Debit: Tanner, Capital $5,000
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