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Record your findings with the relevant text in a document and support your results with as many screenshots from your spreadsheet as you need to.

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Below you will find 2 files: Data-driven decision-making – CA.pdf and 201306-citibike-tripdata.csv. Data-driven decision-making – CA.pdf contains the brief and questions for your assignment. 201306-citibike-tripdata.csv. is the file containing the data you will be asked to work on. Record your findings with the relevant text in a document and support your results with as many […]

Compare the details of the cash receipts journal entries with the details of the corre- sponding daily deposit slips.

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The following are various potential misstatements due to errors or fraud (1 through 7), and a list of auditing procedures (a. through h.) the auditor would consider performing to gather evidence to determine whether the error or fraud is present. Possible Misstatements Due to Errors or Fraud 1. The auditor suspects that a lapping scheme […]

Prepare any adjusting entries required in the home office records.

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In the audit of the Regional Transport Company, a large branch that maintains its own bank account, cash is periodically transferred to the central account in Cedar Rapids. On the branch account’s records, bank transfers are recorded as a debit to the home office clearing account and a credit to the branch bank account. Similarly, […]

Briefly describe each pillar, how it interacts with the other three pillars, and then provide real-world examples of how each pillar supports our government. How does the U.S. Constitution establish checks and balances and federalism using these pillars?

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The Four Pillars of U.S. Government The federal government of the United States was constructed using the directions provided in the U.S. Constitution. Our Founding Fathers had the wisdom and foresight to create a very flexible and intelligently structured government framework that has endured. The entire American political system is based on four constitutionally derived […]

What audit procedures would you use to verify each item in the bank reconciliation?

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You are auditing general cash for the Pittsburgh Supply Company for the fiscal year ended July 31, 2019. The client has not prepared the July 31 bank reconciliation. After a brief discussion with the owner, you agree to prepare the reconcili- ation, with assistance from one of Pittsburgh Supply’s clerks. You obtain the following information: […]

Compare the price per share on an equity investment at year end according to the schedule of investment activity to the quoted market price according to an outside pricing source.

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The following audit procedures are concerned with tests of details of general cash and financial instruments balances: 1. Obtain a standard bank confirmation from each bank with which the client does business. 2. Compare the balance on the bank reconciliation obtained from the client with the bank confirmation. 3. Trace deposits in transit on the […]

What control can be instituted for each fraud to reduce the likelihood of occurrence?

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The following are misstatements that might be found in the client’s year-end cash balance (assume that the balance sheet date is June 30): 1. A check was omitted from the outstanding check list on the June 30 bank reconcilia- tion. It cleared the bank July 7. 2. Cash receipts collected on accounts receivable from July […]

Which of the following controls would most likely detect a kiting scheme?

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The following questions concern auditing year-end cash and financial instruments. Choose the best response. a. Which of the following controls would most likely detect a kiting scheme? (1) Preparing a bank reconciliation (2) Using a lockbox system for customer receipts (3) Comparing the details of deposit tickets and recorded remittance advices (4) Preparing a bank […]

Which of the following cash transfers results in a misstatement of cash at December 31, 2019?

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The following questions deal with discovering fraud in auditing year-end cash. Choose the best response. a. Which of the following cash transfers results in a misstatement of cash at December 31, 2019? BANK TRANSFER SCHEDULE Disbursements Receipt Transfer Recorded in Books Paid by Bank Recorded in Books Received by Bank (1) 12/31/19 1/4/20 12/31/19 12/31/19 […]

Determine that the investment is carried at the lower of cost or market.

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The following questions deal with auditing year-end cash and financial instruments. Choose the best response. a. A CPA obtains a January 10 cutoff bank statement for a client directly from the bank. Very few of the outstanding checks listed on the client’s December 31 bank reconcili- ation cleared during the cutoff period. A probable cause […]

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