It’s another important control activity requires that cash receipts be deposited in a bank daily. At the end of the each day, the amount of cash received during the day is debited to the cash accounts to which it has been deposited. The amount deposited should equal the total of cash register tapes. If it doesn’t, the discrepancy is recorded in an account called Cash over and short. The usage of cash over and short for internal control purposes.

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Answer 1

Question

Chapter 4, Problem 16DQ

To determine

Introduction:

It’s another important control activity requires that cash receipts be deposited in a bank daily. At the end of the each day, the amount of cash received during the day is debited to the cash accounts to which it has been deposited. The amount deposited should equal the total of cash register tapes. If it doesn’t, the discrepancy is recorded in an account called Cash over and short.

The usage of cash over and short for internal control purposes.

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Answer 2

Question

Chapter 4, Problem 16DQ

To determine

Introduction:

It’s another important control activity requires that cash receipts be deposited in a bank daily. At the end of the each day, the amount of cash received during the day is debited to the cash accounts to which it has been deposited. The amount deposited should equal the total of cash register tapes. If it doesn’t, the discrepancy is recorded in an account called Cash over and short.

The usage of cash over and short for internal control purposes.

Expert Solution & Answer

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Answer 3

Question

Chapter 4, Problem 16DQ

To determine

Introduction:

It’s another important control activity requires that cash receipts be deposited in a bank daily. At the end of the each day, the amount of cash received during the day is debited to the cash accounts to which it has been deposited. The amount deposited should equal the total of cash register tapes. If it doesn’t, the discrepancy is recorded in an account called Cash over and short.

The usage of cash over and short for internal control purposes.

Expert Solution & Answer

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Answer 4

Question

Chapter 4, Problem 16DQ

To determine

Introduction:

It’s another important control activity requires that cash receipts be deposited in a bank daily. At the end of the each day, the amount of cash received during the day is debited to the cash accounts to which it has been deposited. The amount deposited should equal the total of cash register tapes. If it doesn’t, the discrepancy is recorded in an account called Cash over and short.

The usage of cash over and short for internal control purposes.

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Answer 5

Chapter 4, Problem 16DQ

To determine

Introduction:

It’s another important control activity requires that cash receipts be deposited in a bank daily. At the end of the each day, the amount of cash received during the day is debited to the cash accounts to which it has been deposited. The amount deposited should equal the total of cash register tapes. If it doesn’t, the discrepancy is recorded in an account called Cash over and short.

The usage of cash over and short for internal control purposes.

Answer 6

Chapter 4, Problem 16DQ

To determine

Introduction:

It’s another important control activity requires that cash receipts be deposited in a bank daily. At the end of the each day, the amount of cash received during the day is debited to the cash accounts to which it has been deposited. The amount deposited should equal the total of cash register tapes. If it doesn’t, the discrepancy is recorded in an account called Cash over and short.

The usage of cash over and short for internal control purposes.

Answer 7

Chapter 4, Problem 16DQ

To determine

Introduction:

It’s another important control activity requires that cash receipts be deposited in a bank daily. At the end of the each day, the amount of cash received during the day is debited to the cash accounts to which it has been deposited. The amount deposited should equal the total of cash register tapes. If it doesn’t, the discrepancy is recorded in an account called Cash over and short.

The usage of cash over and short for internal control purposes.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 4 - Prob. 1DQ Ch. 4 - Prob. 2DQ Ch. 4 - The Sarbanes-Oxley Act increased top managements...Ch. 4 - Prob. 4DQ Ch. 4 - Prob. 5DQ Ch. 4 - Prob. 6DQ Ch. 4 - Prob. 7DQ Ch. 4 - Prob. 8DQ Ch. 4 - Prob. 9DQ Ch. 4 - Prob. 10DQ

Solution Summary: The author explains how cash over and short can be used for internal control purposes by highlighting discrepancies.

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Chapter 4 Solutions