Following are five separate cases involving internal control issues.

Required:

$1.$ For each case, identify the principle$($s$)$ of internal control that is violated.

Owner invested $$60,000$ cash in the company along with $$15,000$ of equipment in exchange for its common stock.

The company paid $$1,500$ cash for rent of office space for the month.

The company purchased $$10,000$ of additional equipment on credit $($payment due within $30$ days$).$

The company completed work for a client and immediately collected $$2,500$ cash.

The company completed work for a client and sent a bill for $$8,000$ to be received within $30$ days.

The company purchased additional equipment for $$6,000$ cash.

The company paid an assistant $$3,000$ cash as wages for the month.

The company collected $$5,000$ cash as a partial payment for the amount owed by the client in transaction e$.$

The company paid $$10,000$ cash to settle the liability created in transaction c$.$

The company paid $$1,000$ cash in dividends to the owner $($sole shareholder$).$

Assets $=$ Liabilities $+$ Equity

Cash $+$ Accounts Receivable $+$ Equipment $=$ Accounts Payable $+$ Common Stock $$ Dividends $+$ Revenues $$ Expenses

a$.$ $$60,000$selected answer correct $+$ not attempted $+$ $$15,000$selected answer correct $=$ not attempted $+$ $$75,000$selected answer correct $$ not attempted $+$ not attempted $$ not attempted

b$.(1,500)$selected answer correct $+$ not attempted $+$ not attempted $=$ not attempted $+$ not attempted $$ not attempted $+$ not attempted $(1,500)$selected answer correct

Balance after a and b $58,500+0$not attempted $+15,000=0+75,0000+0(1,500)$

c$.$ not attempted $+$ not attempted $+$ not attempted $=$ not attempted $+$ not attempted $$ not attempted $+$ not attempted $$ not attempted

Balance after c $58,500+0+15,000=0+75,0000+0(1,500)$

d$.$ not attempted $+$ not attempted $+$ not attempted $=$ not attempted $+$ not attempted $$ not attempted $+$ not attempted $$ not attempted

Balance after d $58,500+0+15,000=0+75,0000+0(1,500)$

e$.$ not attempted $+$ not attempted $+$ not attempted $=$ not attempted $+$ not attempted $$ not attempted $+$ not attempted $$ not attempted

Balance after e $58,500+0+15,000=0+75,0000+0(1,500)$

f$.$ not attempted $+$ not attempted $+$ not attempted $=$ not attempted $+$ not attempted $$ not attempted $+$ not attempted $$ not attempted

Balance after f $58,500+0+15,000=0+75,0000+0(1,500)$

g$.$ not attempted $+$ not attempted $+$ not attempted $=$ not attempted $+$ not attempted $$ not attempted $+$ not attempted $$ not attempted

Balance after g $58,500+0+15,000=0+75,0000+0(1,500)$

h$.$ not attempted $+$ not attempted $+$ not attempted $=$ not attempted $+$ not attempted $$ not attempted $+$ not attempted $$ not attempted

Balance after h $58,500+0+15,000=0+75,0000+0(1,500)$

i$.$ not attempted $+$ not attempted $+$ not attempted $=$ not attempted $+$ not attempted $$ not attempted $+$ not attempted $$ not attempted

Balance after i $58,500+0+15,000=0+75,0000+0(1,500)$

j$.$ not attempted $+$ not attempted $+$ not attempted $=$ not attempted $+$ not attempted $$ not attempted $+$ not attempted $$ not attempted

Balance after j $$58,500+$ $$0+$ $$15,000=$ $$0+$ $$75,000$ $$0+$ $$0$ $$(1,500)$