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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
NO. 8632
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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