Decision Case Case Summary: B is the owner of the GB construction company that employs 15 work crews. Supervisors directly report to B and are considered trusted employees. The home office is consists of one accountant and one office manager. Supervisors have authority to hire and fire crew but notify changes to home office and forward W-4 forms to home office. Each Thursday supervisors submit the weekly time sheet, on Friday collect the checks and distributes to the workers. The accountant prepares the checks and signed by the B. The accountant verifies the signatures of the workers on the back of the checks and W-4 forms to confirm the bona fide employees. To Identify: One way that a supervisor can defraud Company GB under the present system.

Question

Want to see the full answer?

Answer 1

Question

Chapter 11, Problem 11.1CTDC

1.

To determine

Decision Case

Case Summary: B is the owner of the GB construction company that employs 15 work crews. Supervisors directly report to B and are considered trusted employees. The home office is consists of one accountant and one office manager. Supervisors have authority to hire and fire crew but notify changes to home office and forward W-4 forms to home office. Each Thursday supervisors submit the weekly time sheet, on Friday collect the checks and distributes to the workers. The accountant prepares the checks and signed by the B. The accountant verifies the signatures of the workers on the back of the checks and W-4 forms to confirm the bona fide employees.

To Identify: One way that a supervisor can defraud Company GB under the present system.

2.

To determine

To Discuss: A control feature that the Company GB can use to safeguard against the fraud identified above.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

How much does he need before tax of this financial accounting question?

hello teacher please solve questions

The stock P/E ratio general accounting

Answer 2

Question

Chapter 11, Problem 11.1CTDC

1.

To determine

Decision Case

Case Summary: B is the owner of the GB construction company that employs 15 work crews. Supervisors directly report to B and are considered trusted employees. The home office is consists of one accountant and one office manager. Supervisors have authority to hire and fire crew but notify changes to home office and forward W-4 forms to home office. Each Thursday supervisors submit the weekly time sheet, on Friday collect the checks and distributes to the workers. The accountant prepares the checks and signed by the B. The accountant verifies the signatures of the workers on the back of the checks and W-4 forms to confirm the bona fide employees.

To Identify: One way that a supervisor can defraud Company GB under the present system.

2.

To determine

To Discuss: A control feature that the Company GB can use to safeguard against the fraud identified above.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 11, Problem 11.1CTDC

1.

To determine

Decision Case

Case Summary: B is the owner of the GB construction company that employs 15 work crews. Supervisors directly report to B and are considered trusted employees. The home office is consists of one accountant and one office manager. Supervisors have authority to hire and fire crew but notify changes to home office and forward W-4 forms to home office. Each Thursday supervisors submit the weekly time sheet, on Friday collect the checks and distributes to the workers. The accountant prepares the checks and signed by the B. The accountant verifies the signatures of the workers on the back of the checks and W-4 forms to confirm the bona fide employees.

To Identify: One way that a supervisor can defraud Company GB under the present system.

2.

To determine

To Discuss: A control feature that the Company GB can use to safeguard against the fraud identified above.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 11, Problem 11.1CTDC

1.

To determine

Decision Case

Case Summary: B is the owner of the GB construction company that employs 15 work crews. Supervisors directly report to B and are considered trusted employees. The home office is consists of one accountant and one office manager. Supervisors have authority to hire and fire crew but notify changes to home office and forward W-4 forms to home office. Each Thursday supervisors submit the weekly time sheet, on Friday collect the checks and distributes to the workers. The accountant prepares the checks and signed by the B. The accountant verifies the signatures of the workers on the back of the checks and W-4 forms to confirm the bona fide employees.

To Identify: One way that a supervisor can defraud Company GB under the present system.

2.

To determine

To Discuss: A control feature that the Company GB can use to safeguard against the fraud identified above.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 11, Problem 11.1CTDC

1.

To determine

Decision Case

Case Summary: B is the owner of the GB construction company that employs 15 work crews. Supervisors directly report to B and are considered trusted employees. The home office is consists of one accountant and one office manager. Supervisors have authority to hire and fire crew but notify changes to home office and forward W-4 forms to home office. Each Thursday supervisors submit the weekly time sheet, on Friday collect the checks and distributes to the workers. The accountant prepares the checks and signed by the B. The accountant verifies the signatures of the workers on the back of the checks and W-4 forms to confirm the bona fide employees.

To Identify: One way that a supervisor can defraud Company GB under the present system.

2.

To determine

To Discuss: A control feature that the Company GB can use to safeguard against the fraud identified above.

Answer 6

Chapter 11, Problem 11.1CTDC

1.

To determine

Decision Case

Case Summary: B is the owner of the GB construction company that employs 15 work crews. Supervisors directly report to B and are considered trusted employees. The home office is consists of one accountant and one office manager. Supervisors have authority to hire and fire crew but notify changes to home office and forward W-4 forms to home office. Each Thursday supervisors submit the weekly time sheet, on Friday collect the checks and distributes to the workers. The accountant prepares the checks and signed by the B. The accountant verifies the signatures of the workers on the back of the checks and W-4 forms to confirm the bona fide employees.

To Identify: One way that a supervisor can defraud Company GB under the present system.

Answer 7

Chapter 11, Problem 11.1CTDC

1.

To determine

Decision Case

Case Summary: B is the owner of the GB construction company that employs 15 work crews. Supervisors directly report to B and are considered trusted employees. The home office is consists of one accountant and one office manager. Supervisors have authority to hire and fire crew but notify changes to home office and forward W-4 forms to home office. Each Thursday supervisors submit the weekly time sheet, on Friday collect the checks and distributes to the workers. The accountant prepares the checks and signed by the B. The accountant verifies the signatures of the workers on the back of the checks and W-4 forms to confirm the bona fide employees.

To Identify: One way that a supervisor can defraud Company GB under the present system.

Answer 8

2.

To determine

To Discuss: A control feature that the Company GB can use to safeguard against the fraud identified above.

Answer 9

2.

To determine

To Discuss: A control feature that the Company GB can use to safeguard against the fraud identified above.

Answer 10

Expert Solution & Answer

Answer 11

Expert Solution & Answer

Answer 12

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 13

Ch. 11 - Prob. 1QC Ch. 11 - On January 1, 2016, a business borrowed 18,000 on...Ch. 11 - A company sells 180,000 (selling price) of goods...Ch. 11 - Prob. 4QC Ch. 11 - Prob. 5QC Ch. 11 - Prob. 6QC Ch. 11 - Prob. 7QC Ch. 11 - Vega Company expects to pay a 4% bonus on net...Ch. 11 - Prob. 9QC Ch. 11 - Prob. 10QC

Solution Summary: The author explains how a supervisor can defraud Company GB by entering bogus name in the weekly time sheet and submitting the W-4 form to the home office with forged signature.

To Discuss: A control feature that the Company GB can use to safeguard against the fraud identified above.

Want to see the full answer?

Chapter 11 Solutions