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The account balances assertion was also misstated on. This is specifically on the PCAOB assertion about right and obligations. The City of Dixon had a bank account in their name called the RSCDA. This was a fraudulent account created by Crundwell to pull off her scheme. However, as this bank account was under the City of Dixon’s name the account should have appeared on the financial statements, with an accurate balance. The city had right to this misused bank account.

a. According to the bank statement, how many checks were written from this account during the statement period? (0.5 points)

a. According to the bank statement, how many checks were written from this account during the statement period? (0.5 points)

a. What is the total balance of Jessie Robinson 's real estate account? (0.5 points)

On December 11, MD received an order for a total price of $22,100. Barbor Furniture Ltd. (Barbor) provided a deposit of $9,000 which was recorded as revenue when it was received on December 13. Barbor was not billed until January 2. The order was not shipped until after the year end on January 2. The remaining balance owing was recorded in accounts receivable and

(b) Recorded an adjusting entry to record use of $20 of the above supplies. Cash 0/ Net Income -20

4. What is the amount that was credited to Group Insurance Premiums Collected (account number 27) during this period?

* Photocopies of fronts of two checks payable to Lisa (for $61.00 and 478.29) but the canceled checks were not able to be located or find evidence that it cleared IBC’s bank account. (508)

The defendant stated that the day of the incident, she went into a Casino (she does not recall which one) to withdraw a certain

Question 3: Describe and show the journal entries illustrating how the company accounts for the transfer of its accounts receivable to financial institutions. Is this accounting treatment reasonable? What are the key assumptions made under this approach? Do you agree with these assumptions?

The following additional facts are collected for use in making adjusting entries on December 31 prior to preparing financial statements for the company’s first three months. Journalize the following adjusting journal entries in the General Journal on page 6 and then post them to

Name: ________________________________ Date: _________________ [1]BASIC BANK01 - BAT 003 Which of the following statements is true? A. An asset account is increased by a credit B. An expense account is increase by a credit C. A revenue account is decreased by a credit D. An equity account is decreased by a debit [2]BASIC BANK02 - BAT 010 The Income Summary account contains: A. Total revenues and total expenses for the year B. Total assets and total liabilities at year end C. Total revenues, expenses, assets, and liabilities

Cash was paid by Ari’s Alarm Service to creditors on account. Which of the following entries for Ari’s Alarm Service records this transaction?

b. Trace the line item “Balance per Bank Statement” – Accuracy and Existence (AU-C 315.A114 a-iii, b-i)

b. The bogus debit memos for accounts payable. – The most reliable form of evidence that the auditors could have obtained in this situation would be confirmations. The auditors should have sent confirmations to vendors, suppliers, and creditors confirming the amount that Crazy Eddie owed them. The amounts reportedly owed could then be matched with the amounts recorded in the company’s accounting records. Auditors should question any discrepancies.