problems 9-15 9-16

problems 9-15 9-16 - 9-15. Identify one or more control...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
9-15. Identify one or more control procedures (either general or application controls, or both) that would guard against each of the following errors or problems. a. Leslie Thomas, a secretary at the university, indicated that she had worked 40 hours on her regular time card. The university paid her for 400 hours worked that week. b. The aging analysis indicated that the Grab and Run Electronics Company account was so far in arrears that the credit manager decided to cut off any further credit sales to the company until it cleared up its account. Yet, the following week, the manager noted that three new sales had been made to that company—all on credit. c. The Small Company employed Mr. Fineus Eyeshade to perform all its accounts receivable data processing. Mr. Eyeshade’s 25 years with the company and his unassuming appearance helped him conceal the fact that he was embezzling cash collections from accounts receivable to cover his gambling losses at the race track.
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/11/2011 for the course ACC 340 taught by Professor Liz during the Summer '11 term at Aberystwyth University.

Ask a homework question - tutors are online