desktop D LED display Cengage ttpsN2cengagenowcomlmtakeAssig

desktop D LED display Cengage ttps/N2.cengagenow.com/lm/takeAssignment/takeAssignmentMaindoinoker assignments&takeAssignmentSessionLocator-assignme...; Q the folowng procedures were recently mp ereed the Pampered pets, Inc. For each procedure, \"dcate whether the internal control over cash represents(1)a?mgth or C2) a weakness. a. At the end of the day, cash register dlerka are required to use their own funds to make up any cash shortages n their registes b. At the end of the day, an accounting dlerk compares the duplicahe copy of the daily cash deponit sip wity the deposit receiot obtained from the bank C. After necessary pprovals have been oltained for the peyment of a vouchec the treasurer signs and mails the dheck. The tamps the voucher and supporting documentation as paid and neturns the voucher and to the accounts payable clerk for Filing Wong with the petty cash receipts for pestage, office sueelies, etc, several postdated empleyee checks are in the

Solution

a. (2) a Weakness This is because a proper and adequate provision should be maintained to have good internal control over cash. b. (1) a strength It shows the good internal control by clerk to reconcile deposits on daily basis. c. (1) a strength The treasurer is maintaining a control towards despatch of checks and cancelling vouchers as paid. The treasurer who is the signing authority, knows which voucher have to be marked as paid. d. (2) a Weakness A petty cash should not include the employee checks does not show any internal control over employee postpaid checks. Between the petty cash receipts the checks could be lost.