Question: a . For each of the preceding lettered items A F , select one or more of the following procedures 1 1 0 that you

.

For each of the preceding lettered items A

,

select one or more of the following procedures

1 10

that you believe the auditor should perform to obtain evidence about the item. These procedures may be selected once, more than once, or not at all. Be prepared to explain the reasons for your choices.

1 .

Trace to cash receipts journal.

2 .

Trace to cash disbursements journal.

3 .

Compare to the September

30

general ledger.

4 .

Confirm directly with the bank.

5 .

Inspect bank credit memo.

6 .

Inspect bank debit memo.

7 .

Ascertain reason for unusual delay, if any.

8 .

Inspect supporting documents for reconciling items that do not appear on the cutoff bank statement.

9 .

Trace items on the bank reconciliation to the cutoff bank statement.

10 .

Trace items on the cutoff bank statement to the bank reconciliation. b

.

Auditors ordinarily foot a client

-

prepared bank reconciliation. If the auditors had performed this recalculation on the preceding bank reconciliation, what might they have found? Be prepared to discuss any findings.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

The manager of a grocery store is interested in providing good service to the senior citizens who shop in his store. The manager is considering the addition of a separate checkout counter for senior...

Auditors typically will find the items lettered AF in a client-prepared bank reconciliation. Required : Assume these facts: On October 11, the auditor received a cutoff bank statement dated October...

GENERAL COMPANY Bank Reconciliation: 1st National Bank September 30 A Balance per bank $28.375 B Deposits in transit 29-Sep $4.500 30-Sep $1.525 56,025 $34.400 C Outstanding checks: 988 Aug 31 52.200...

The question is attached to the file. 6.52 Procedures for Auditing a Client's Bank Reconciliation. Auditors typically will find the items lettered (A) (F) in client-prepared bank reconciliation....

Complete 6.52 question as stated. In addition, please record the necessary journal entry based on the audit of the reconciliation. Complete 6.52 question as stated. In addition, please record the...

CASH GENERAL COMPANY Bank Reconciliation: 1st National Bank September 30 $28,375 A Balance per bank B. Deposits in transit Sept 29 Sept 30 $ 4,500 1,525 6,025 34,400 C. Outstanding checks 988 Aug 31...

LO 10-6, 10 10-36 Based on an assessment of audit risk, the auditors are concerned with the following two risks: 1. The risk that that the client might be making duplicate payments to vendors. 2. The...

I need help with this case. Thank you 0 - C Micro o ment Caste llo MU LUKIS GINIRAL STORE GENERALSTORE 1st National of US Bank Account Herd Use Dropdown in cells bele Balance per bank 219 | | 10/15...

Multiple choice question. NEED ANSWERS ASAP PLEASE Which of the following are not included in a management representations letter? Select one: a. All transactions have been recorded and are reflected...

1039. Adapted AICPA Simulation Items a through l represent possible errors and fraud that you suspect may be present at Rex Company. The accompanying List of Auditing Procedures represents procedures...

One of the problems in liability-driven investing when using cash market Treasuries for hedging interest-rate risk is that the duration will producea dollar duration that does not match that of the...

A program reads the data from a file called input_file.txt and, after doing some arithmetic calculations, writes the results to a file called output_file.txt. A. After the program executes, what are...

Inherent risk and control risk are the two components of thThese components of audit risk exist for a client even if an audit is not performed. Multiple choice question. Inherent risk, control risk,...

Pharoah Company reported the following amounts for 2022: Raw materials purchased $95,200 Beginning raw materials inventory 5,824 Ending raw materials inventory 5,040 Beginning finished goods...