Distinguish between the following payroll audit procedures and state the purpose of each: (1) trace a random sample of prenumbered time cards to the related payments in the payroll register and compare the hours worked with the hours paid, and (2) vouch a random sample of payments from the payroll register to the related time cards and compare the hours worked with the hours paid.
Identify five general ledger accounts that are likely to be affected by the payroll and personnel cycle in most audits. 20-2 (OBJECTIVES 20-1, 20-3) Explain the relationship between the payroll and personnel cycle and inventory valuation. 20-3 (OBJECTIVE 20-2) Distinguish among a payroll master file, a W-2 form, and a payroll tax return. Explain the […]