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EXHIBIT 8C.22.1 Clock Bank YTD General Management Reports Cards Statements Payrolls Records Ledger Diagram of Payroll Tests of Controls Sample Trace Time Trace Sample Vouch Time Trace Vouch Checks Trace Vouch Transfer Recalculate All Reconcile

EXHIBIT 8C.22.1 Clock Bank YTD General Management Reports Cards Statements Payrolls Records Ledger Diagram of Payroll Tests of Controls Sample Trace Time Trace Sample Vouch Time Trace Vouch Checks Trace Vouch Transfer Recalculate All Reconcile

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Payroll Tests of Controls. The diagram in Exhibit 8C.22.1 describes several payroll tests of controls. It shows the direction of the tests, leading from samples of clock cards, payrolls, and cumulative year-to-date earnings records to blank squares.
Required:
For each blank square in Appendix Exhibit 8C.22.1, write a payroll test of controls procedure and describe the evidence it can produce.

EXHIBIT 8C.22.1 Clock Bank YTD General Management Reports Cards Statements Payrolls Records Ledger Diagram of Payroll Tests of Controls Sample Trace Time Trace Sample Vouch Time Trace Vouch Checks Trace Vouch Transfer Recalculate All Reconcile
Transcribed Image Text:EXHIBIT 8C.22.1 Clock Bank YTD General Management Reports Cards Statements Payrolls Records Ledger Diagram of Payroll Tests of Controls Sample Trace Time Trace Sample Vouch Time Trace Vouch Checks Trace Vouch Transfer Recalculate All Reconcile
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