EX 8-23 Using bank reconciliation to determine cash receipts stolen Alaska Impressions Co. records all cash receipts on the basis of its cash register tapes. Alaska Impressions Co. discovered during October that one of its salesclerks had stolen an undetermined amount of cash receipts while taking the daily deposits to the bank. The following data have been gathered for October: OBJ. 2, 3, 5 Cash in bank according to the general ledger Cash according to the October 31 bank statement Outstanding checks as of October 31 Bank service charge for October Note receivable, including interest collected by bank in October $11,680 13,275 3,670 40 2,100 No deposits were in transit on October 31. a. Determine the amount of cash receipts stolen by the salesclerk.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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ALASKA IMPRESSIONS CO.

Bank Reconciliation

October 31

Cash balance according to bank statement

 

Note Receivable and interest collected by bank

 

Adjusted balance

 

 

 

Cash balance according to company’s records

 

 

 

 

 

Adjusted balance

 

 

 

EX 8-23 Using bank reconciliation to determine cash receipts stolen
Alaska Impressions Co. records all cash receipts on the basis of its cash register tapes.
Alaska Impressions Co. discovered during October that one of its salesclerks had stolen
an undetermined amount of cash receipts while taking the daily deposits to the bank. The
following data have been gathered for October:
OBJ. 2, 3,5
Cash in bank according to the general ledger
Cash according to the October 31 bank statement
Outstanding checks as of October 31
Bank service charge for October
Note receivable, including interest collected by bank in October
$11,680
13,275
3,670
40
2,100
No deposits were in transit on October 31.
a. Determine the amount of cash receipts stolen by the salesclerk.
Transcribed Image Text:EX 8-23 Using bank reconciliation to determine cash receipts stolen Alaska Impressions Co. records all cash receipts on the basis of its cash register tapes. Alaska Impressions Co. discovered during October that one of its salesclerks had stolen an undetermined amount of cash receipts while taking the daily deposits to the bank. The following data have been gathered for October: OBJ. 2, 3,5 Cash in bank according to the general ledger Cash according to the October 31 bank statement Outstanding checks as of October 31 Bank service charge for October Note receivable, including interest collected by bank in October $11,680 13,275 3,670 40 2,100 No deposits were in transit on October 31. a. Determine the amount of cash receipts stolen by the salesclerk.
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