. uete H Ihtenial control principle heing spplied ler in Exhibst 64 is excluded

Question

. uete H Ihtenial control principle heing spplied ler in Exhibst 64 is excluded trom the above Jescription ription, prepate a list of steps and documentation similat to Exhibit 6.4 sHRCs materialsicrew manager is artested for having $20,000 of ute d eo his home, but charged to the company Identify the internal control weak only fr ed this theft to occur E6-5 Preparing a Bank Reconciliation and Journal Entries, and LO 6-4 Reporting Cash acted filkl Cma's lune 10, 2013, hank statement and the line ledser account for cuh are cesses shout the ome of the t BANK STATEMENT DepositsOther Balance 7.200 25.200 6,100 6,070 6,070 Checks uiance, June 1,2013 Drssits during June Checks cleated during June Bank service charges Balance, June 30, 2013 h receipts syatem in si8a00 $19,100 530 -h from the lockers the east side be ch and prepares ceh mmary, and e bank for deposit e aher the deposit i mary to thbe accoun Cash (A) lune 1 Ralance 9000 19 400 Checks written lune andonditing Locker Required: Prepare a bink recunciliarion A comparison of the checks written wih the checks that have cleared the hank shows outstanding checks of $700 Some of the checks that cleated in June were written pror to June No deposits in transit were noted in May, but a deposit s in tranut at the end of Jurve 10,000 fhom the com Cive any jourmal entries that should be made as a result of the bank reconciliatikon : Whut s the balance in the Cadh accunt after the teconclition entrics Processes In aklirion to the balance in irs hank account, Hills Company alo has $300cash on hand This smount to recorded in a separate T account called Cash on Hand What is the tocil anwount of cauh that shoold be reported on the balance sheet at June 30 The

Explanation / Answer

Following Journal Entries would be passed :

Bank A/c 30

Bank Reconciliation Statement Bank Balance As of June'30 6070 Add: Deposit Not Accounted 1000 Add: Uncleared Checks 700 Cash Account Balance As of June 30 6370

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