Jacqueline Mensah, manager of Expert Building Company, is a valued and trusted employee. She has been with the company from its start two years ago. Because of the demand of her job, he has not taken a vacation since she began working. She is in charge of recording collections on account, making the daily bank deposits, and reconciling the bank statement. Late last year, clients began complaining to you, the Managing Director, about incorrect statements. As Managing Director, you want to investigate this matter. Jacqueline tells you there is nothing to worry about. The problem is due to the slow mail: customers payments and statement are crossing in the mail. Because clients were not complaining last year, you doubt the mail is the primary reason for the problem. Required:   What might be some of the reasons for the delay? What should be done to make sure the problems are avoided in the future?

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter4: Adjusting Entries And The Work Sheet
Section: Chapter Questions
Problem 4A: Your client is preparing financial statements to show the bank. You know that he has incurred a...
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Jacqueline Mensah, manager of Expert Building Company, is a valued and trusted employee.

She has been with the company from its start two years ago. Because of the demand of her job,

he has not taken a vacation since she began working. She is in charge of recording collections on account, making the daily bank deposits, and reconciling the bank statement.

Late last year, clients began complaining to you, the Managing Director, about incorrect statements. As Managing Director, you want to investigate this matter. Jacqueline tells you there is nothing to worry about. The problem is due to the slow mail: customers payments and statement are crossing in the mail.

Because clients were not complaining last year, you doubt the mail is the primary reason for the problem.

Required:

 

  1. What might be some of the reasons for the delay?
  2. What should be done to make sure the problems are avoided in the future?
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