Which of the Following Bank Transfers Appears to Be an Example

question 37

Short Answer

Which of the following bank transfers appears to be an example of kiting aimed at concealing a cash shortage? $\quad$$\text { Date of }$$\quad$$\quad$$\quad\quad$$\text {Date of}$
$\quad$$\text { Disbursement }$$\quad$$\quad$$\quad$$\text {Receipt }$
$\begin{array}{lll}\text { Books } & \text { Books }& \text { Books }& \text { Books }\end{array}$
A) $\begin{array}{llll}12 / 28 &1 / 03 &\quad12 / 28 & 12 / 28\end{array}$
B) $\begin{array}{llll}1 / 03 & 1 / 05 & \quad\quad1 / 03 & 1 / 03\end{array}$
C) $\begin{array}{llll}12 / 30 & 1 / 03 &\quad 12 / 30 & 12 / 30\end{array}$
D) $\begin{array}{llll}1 / 02 & 1 / 04 &\quad 12 / 30 & 12 / 30\end{array}$
E) $\begin{array}{llll}1 / 03 & 1 / 05 &\quad 1 / 03 & 12 / 31\end{array}$

• A)\(\begin{array}{llll}
• 12 / 28 &1 / 03 &\quad12 / 28 & 12 / 28
• \end{array}\)
• B)\(\begin{array}{llll}
• 1 / 03 & 1 / 05 & \quad\quad1 / 03 & 1 / 03
• \end{array}\)
• C)\(\begin{array}{llll}12 / 30 & 1 / 03 &\quad 12 / 30 & 12 / 30\end{array}\)
• D)\(\begin{array}{llll}
• 1 / 02 & 1 / 04 &\quad 12 / 30 & 12 / 30
• \end{array}\)
• E)\(\begin{array}{llll}
• 1 / 03 & 1 / 05 &\quad 1 / 03 & 12 / 31
• \end{array}\)

---

Definitions:

Direct Materials

Materials that are directly used in the manufacture of end products.

Direct Labor

Wages paid to employees who are directly involved in the production of goods or services.

Factory Overhead

All indirect costs associated with manufacturing, excluding direct labor and direct materials.

Job Cost Sheet

A document that tracks the materials, labor, and overhead costs associated with a specific job in job order costing.