Bank Balance to Corrected Balance Balance per bank statement Add: Deposits outstanding (1) Deduct: Bank error - deposit incorrectly credited to company account Outstanding checks (2) Corrected cash balance Step 2: Book Balance to Corrected Balance Balance per books Deduct: Error in recording check #411. Service charges NSF checks Corrected book balance (1) Receipts Less: December receipts deposited: Bank deposits Less: Deposit errors Less: Prior months deposits outstanding Deposits outstanding, December 31 (2) December disbursements Error in recording check #411. Less: December checks cleared: Total checks cleared Prior months checks: #363 #380 #381 #382 December checks outstanding Add: check #365 Total checks outstanding, December 31 To record credits to cash revealed by the bank reconciliation: Advertising expense Miscellaneous expense (bank svc. charges) Accounts receivable (NSF checks) Cash Explain the fraud triangle and why cash is so susceptible to fraud.

Answer rating: 100% (QA)

The Fraud Triangle is a concept that explains the three main factors contributing to fraudule... View the full answer