Chapter 11 Homework part 2
Goods are removed from inventory for unauthorized orders.
A.) Approved sales orders are required for goods to be released from the warehouse
Invoices are sent for shipped goods and are recorded in the sales journal, but are not posted to ant customer account.
A.) Control amounts posted to the accounts receivable ledger are compared with control orders before sales invoices
Invoices are sent for shipped goods, but are not recorded in the sales journal.
A.) Daily sales summaries are compared wit control totals of invoices.
Invalid transactions granting credit for sales returns are recorded.
A.) Goods returned for credit are approved by the supervisor of the sales department
Customers checks are credited to incorrect customers accounts
A.) Monthly statements are mailed to all customers with outstanding balances
Customers checks are misappropriated before they are forwarded to the cashier for deposit.
A.) Monthly statements are mailed to all customers with outstanding balances
Invoices for goods sold are posted to incorrect customer accounts.
A.) Monthly statements are mailed to all customers with outstanding balances
Credit sales are made to unsatisfactory credit ratings
A.) Sales invoices are compared with shipping documents and approved customer orders before invoices are mailed
Invoices are sent to allies in fraudulent scheme, and sales are recorded for fictitious transactions
A.) Sales invoices are compared with shipping documents and approved customer orders before invoices are mailed
Goods shipped to customers do not agree with goods ordered by customers
A.) Shipping clerks compare goods received from the warehouse with approved sales orders
Goods ordered by customers are shipped, but are not billed to anyone.
A.) Shipping documents are compared with sales invoices when goods are shipped.
Customers checks are received for less than the customers full balances, but the customers full balances are credited.
A.) Total amounts posted to the accounts receivable ledger from remittance advices are compared with the validated bank deposit slip.
Multiple customers accounts are credited for the same cash receipt.
A.) Total amounts posted to the accounts receivable ledger from remittance advices are compared with the validated bank deposit slip.
