Cash: Substantive Audit Procedures on Bank Reconciliation: The following auditee-prepared bank reconciliation is being examined by...

 

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Cash: Substantive Audit Procedures on Bank Reconciliation: The following auditee-prepared bank reconciliation is being examined by you during an audit of the financial statements of Cynthia Company: Balancer per bank (a): Deposits in transit (b): 12/30 12/31 Subtotal Outstanding cheques (c): 837 1941 1966 1984 1985 1987 1991 CYNTHIA COMPANY BANK RECONCILIATION VILLAGE BANK ACCOUNT 2 DECEMBER 31, 20X0 Subtotal NSF cheque Returned 12/29 (d): Bank charges Error: cheque no. 1932 Customer note collected by the bank ($2,750mplus $275 interest (e): Balance per books (f): 6,000.00 671.80 320.00 1,855.42 3,621.22 2.576.89 4,420.88 $1,471.10 2,840.69 $18.375.91 4.311.79 22.687.70 (19,466.21) 3.221.49 200.00 5.50 148.10 (3,025,00) $550.09 Required: Indicate one or more audit procedures that should be performed in gathering evidence in support of each of the items (a) through (f) above. (AICAP Adapted) 1 Cash: Substantive Audit Procedures on Bank Reconciliation: The following auditee-prepared bank reconciliation is being examined by you during an audit of the financial statements of Cynthia Company: Balancer per bank (a): Deposits in transit (b): 12/30 12/31 Subtotal Outstanding cheques (c): 837 1941 1966 1984 1985 1987 1991 CYNTHIA COMPANY BANK RECONCILIATION VILLAGE BANK ACCOUNT 2 DECEMBER 31, 20X0 Subtotal NSF cheque Returned 12/29 (d): Bank charges Error: cheque no. 1932 Customer note collected by the bank ($2,750mplus $275 interest (e): Balance per books (f): 6,000.00 671.80 320.00 1,855.42 3,621.22 2.576.89 4,420.88 $1,471.10 2,840.69 $18.375.91 4.311.79 22.687.70 (19,466.21) 3.221.49 200.00 5.50 148.10 (3,025,00) $550.09 Required: Indicate one or more audit procedures that should be performed in gathering evidence in support of each of the items (a) through (f) above. (AICAP Adapted) 1

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a Balance as per bank we can collect bank statement where the balance of the account is mentioned fu... View the full answer