Fraud, Internal Control, and Cash

Forney Company maintains a petty cash fund for small expenditures. The following transactions occurred over a 2-month period.
July 1Established petty cash fund by writing a check on Scranton Bank for $200.
15Replenished the petty cash fund by writing a check for $196.00. On this date the fund consisted of $4.00 in cash and the following petty cash receipts; freight-out $92.00, postage expense $42.40, entertainment expense $46.60, and miscellaneous expense $11.20.
31Replenished the petty cash fund by writing a check for $192.00. At this date the fund consisted of $8.00 in cash and the following petty cash receipts: freight-out $82.10, charitable contributions expense $45.00, postage expense $25.50, and miscellaneous expense $39.40..
Aug. 15Replenished the petty cash fund by writing a check for $187.00. On this date, the fund consisted of $13,00 in cash and the following petty cash receipts: freight-out $77.60, entertainment expense $43,00, postage expense $33,00, and miscellaneous expense $37.00.
16Increased the amount of the petty cash fund to $300 by writing a check for $100.
31Replenished the petty cash fund by writing a check for $284.00. On this date, the fund consisted of $16 in cash and the following petty cash receipts: postage expense $140.00, travel expense $95.60, and freight-out $47.10.

Instructions

  1. Journalize the petty cash transactions.
  2. Post to the Petty Cash account.
  3. What internal control features exist in a petty cash fund?

On May 31, 2019, Rober Company had a cash balance per books of $6,781.50. tha bank statement from New York State Bank on that date showed a balance of $6,404.60. A comparison of the statement with the Cash account revealed the following facts.

Setterstrom Company established a petty cash fund on May 1, cashing a check for $100. The company reimbursed the fund on June 1 and July 1 with the following results.

Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box.

Don Wyatt is unable to reconcile the bank balance at January 31. Don's reconciliation is as follows

On April 30, the bank reconciliation of Westbrook Company shows three outstanding checks no. 254, $650, no. 235, $620, and no. 257, $10. The May bank statement and the May cash payments journal show the following.

The following information pertains to Crane Video Company

The bank portion of the bank reconciliation for Langer Company at November 30, 2019, was as follows

Rodriguez Company maintains a checking account at the Imura Bank. At July 31 selected data from the ledger balance and the bank statement are shown below

The information below relates to the cash account in the ledger of Mintion Company.

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