Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Cost Accounting Expert

problem: The Jamison Cardstock Corporation did not spend a lot of time or money instituting proper internal controls over its cash transactions. The following data reflects Jamison's cash position as of June 30:

[A] The cash recorded on Jamison's accounting records disclosed a balance of $18,901.62 that also included un-deposited cash receipts.

[B] A credit of dollar 100 on bank statement was not recorded in the corporation's accounting records.

[C] The balance on bank statement was $15,550.

[D] Outstanding Checks:

Check Number

Amount

62

$116.25

183

$150.00

284

$253.25

8621

$190.71.

8623

$206.80

8632

$145.28

The corporation cashier embezzled all un-deposited cash receipts in excess of the $3,794.41 listed on bank reconciliation that she create, as shown next.

Balance, per books, June 30

$18,901.62

 

Add:

Outstanding Checks:

 

 

 

 

 

NO. 8621

$190.71

 

 

 

 

 

NO. 8623

$206.80

 

 

 

 

 

NO. 8632

$145.28

442.79

 

 

 

 

 

 

 

$19,344.41

 

 

Subtract: Un-deposited Receipts

 

 

3,794.41

 

   

Balance per bank, June 30

 

$15,550.00

 

 

   

Subtract: Unrecorded Credit

 

100.00

 

 

   

True Cash, June 30

 

$15,450.00 

 

 

   

Make a schedule showing how much the cashier embezzled.

 

 

 

Cost Accounting, Accounting

  • Category:- Cost Accounting
  • Reference No.:- M923506

Have any Question? 


Related Questions in Cost Accounting

Case questions rio grande medical center cost allocation

CASE QUESTIONS RIO GRANDE MEDICAL CENTER Cost Allocation Concepts 1. Is it "fair" for the Dialysis Center to suffer in profitability, and hence for the department head to possibly lose his bonus, just because the Outpati ...

Cost accounting- little debbie brownieshere is a copy of

Cost Accounting- Little Debbie Brownies Here is a copy of the assignment. My snack of choice is the Little Debbie Fudge Brownies Comprehensive Product Costing Select your favorite drink or snack item manufactured by a pu ...

Question 1pringle company distributes a single product the

Question 1. Pringle Company distributes a single product. The company's sales and expenses for a recent month follow:   Total    Per Unit   Sales $ 300,000   $ 20        Variable expenses   210,000     14          Contri ...

Assignment cost accountingoverviewthe final project for

Assignment: Cost Accounting Overview The final project for this course is the creation of a quantitative analysis with a memo to management. Classifying a company's costs allows for an in-depth analysis of the impact tha ...

Scenario-you seemed to develop significant interest with

Scenario- You seemed to develop significant interest with your talk on the future of cost accounting. Your boss has heard about the excellent presentation and you are hopeful that your early retirement will take place. A ...

Quiz1 a process cost system would be used for all of the

QUIZ 1 A process cost system would be used for all of the following products except computer chips. chemicals. motion pictures. soft drinks. 2 Differences between a job order cost system and a process cost system include ...

Assignmentwhile a form of abc was being used by general

Assignment While a form of ABC was being used by General Electric back in the sixties, widespread use of ABC didn't began in the United States until the late eighties. The early focus of ABC was on developing more reliab ...

Question 1 high-low methodtucson tractor inc has

Question 1 High-low method Tucson Tractor Inc. has accumulated the following data over a six month period   Indirect Labor Hours Indirect Labor Costs January......................... 400 $ 6,000 February................. ...

Assignment1 the following information is from the

Assignment 1. The following information is from the manufacturing budget and the budgeted financial statements of Fabor Fabrication: Compute the budgeted amounts for: a. Purchases of direct materials during the year. b. ...

Module 3 - slpstrategic choicessimulationin module 3 you

Module 3 - SLP Strategic Choices SIMULATION In Module 3, you will use CVP analysis to inform the pricing of your 3 products. SCENARIO CONTINUATION: You've now completed SLP2, and it the date is (once again) January 1, 20 ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen