During your audit of Miles Company, you prepared the following bank transfer schedule: a. Describe the purpose
Question:
a. Describe the purpose of a bank transfer schedule.
b. Identify those transfers that should be investigated and explain thereason.
Transcribed Image Text:
MILES COMPANY Bank Transter Schedule December 31,20X1 Date Disbursed Date Deposited Bank Accounts Check Number 2020 2021 3271 0659 Amount Boks Bank Books Bank 1/3 1/3 12/30 1/3 From To 32,000 1st Natl st Natl. 2nd State Midtown Suburban Capital Suburban Suburban 21,000 6,700 5,500 12/30 1/4 1231 1/3 175 114 1/5 1/5 12/31 12/31 113 12/30
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a The purpose of a bank transfer schedule is to trace bank transfers to disclose overstatement of ca...View the full answer
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Related Book For
Principles of Auditing and Other Assurance Services
ISBN: 978-0078025617
19th edition
Authors: Ray Whittington, Kurt Pany
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