how the cashier attempted to hide the theftthe


How the cashier attempted to hide the theft?

The Jamison Cardstock Company did not spend a lot of time or money instituting proper internal controls over its cash transactions. The following information reflects Jamison's cash position as of June 30:

a. The cash recorded on Jamison's accounting records revealed a balance of $18,901.62 that also included undeposited cash receipts.

b. A credit of $100 on the bank statement was not recorded in the company's accounting records.

c. The balance on the bank statement was $15,550.

d. Outstanding Checks:

Check Number

Amount

62

$116.25

183

$150.00

284

$253.2

8621

$190.71.

8623

$206.80

8632

$145.28

The company cashier embezzled all undeposited cash receipts in excess of the $3,794.41 listed on the bank reconciliation that she prepared, as shown next.

Balance, per books, June 30

$18,901.62

 

Add:

Outstanding Checks:

 

 

 

 

 

NO. 8621

$190.71

 

 

 

 

 

NO. 8623

$206.80

 

 

 

 

 

NO. 8632

$145.28

442.79

 

 

 

 

 

 

 

$19,344.41

 

 

Subtract: Undeposited Receipts

 

 

3,794.41

 



Balance per bank, June 30

 

$15,550.00

 

 



Subtract: Unrecorded Credit

 

100.00

 

 



True Cash, June 30

 

$15,450.00

 

 



Describe how the cashier attempted to hide the theft.

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