The following client prepared bank reconciliation is presented to Kautz during an audit of the financial statements
Question:
The following client prepared bank reconciliation is presented to Kautz during an audit of the financial statements of Cynthia Company:
Required:
Indicate one or more audit procedures Kautz should perform to gather evidence to support each of the items (a) through (f).
Transcribed Image Text:
Cynthia Company Bank Reconciliation Village Bank Account 2 December 31, 2000 Balance per bank (a) Deposits in transit: (b) 12/30 12/31 Subtotal Outstanding checks: (c) No. 837 No. 1941 $1,471.10 2,840.69 $ 6,000.00 671.80 320.00 $ 18,375.91 4,311.79 $ 22,687.70 No. 1966 No. 1984 No. 1985 No. 1987 No. 1991 Subtotal NSF check returned, 12/29 (d) Bank charges Error: Check No. 1932 Customer note collected by the bank ($2,750 plus $275 interest) (e) Balance per books (f) 1,855.42 3,621.22 2,576.89 4,420.88 (19,466.21) $ 3,221.49 200.00 5.50 148.10 (3,025.00) $ 550.09
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