Based on the following information, which of the following checks potentially involves check kiting? Date of Receipt Check No. 3679 6890 9854 8675 Account Account Title Title From General A To General Payroll Branch 4 O check No. 3679; O check No. 6980; O check No. 9854; O check No. 8675; Branch 2 Branch 4 General Branch 6 Amount $24,018 $30,620 $10,000 $20,000 Date of Date of Disbursement Disbursement Book 1/2 12/28 1/3 12/30 Bank 1/2 1/4 1/5 12/31 Book 12/30 12/28 1/3 1/3 Date of Receipt Bank 12/31 1/3 12/31 1/3
Based on the following information, which of the following checks potentially involves check kiting? Date of Receipt Check No. 3679 6890 9854 8675 Account Account Title Title From General A To General Payroll Branch 4 O check No. 3679; O check No. 6980; O check No. 9854; O check No. 8675; Branch 2 Branch 4 General Branch 6 Amount $24,018 $30,620 $10,000 $20,000 Date of Date of Disbursement Disbursement Book 1/2 12/28 1/3 12/30 Bank 1/2 1/4 1/5 12/31 Book 12/30 12/28 1/3 1/3 Date of Receipt Bank 12/31 1/3 12/31 1/3
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
sanju
Transcribed Image Text:Based on the following information, which of the following checks potentially involves check kiting?
Date of
Disbursement
Date of
Receipt
Book
Check No.
3679
6890
9854
8675
Account Account
Title
Title
From
*
To
General Branch 2
General Payroll
Branch 4 General
Ocheck No. 3679;
O check No. 6980;
O check No. 9854;
O check No. 8675;
Branch 4 Branch 6
Amount
$24,018
$30,620
$10,000
$20,000
Book
1/2
12/28
1/3
12/30
Date of
Disbursement
Bank
1/2
1/4
1/5
12/31
12/30
12/28
1/3
1/3
Date of Receipt
Bank
12/31
1/3
12/31
1/3
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education