Business, 22.05.2020 17:58 fernn2133

You are controller for an architectural firm whose accounting year ends on December 31. As part of the management team, you receive a year-end bonus directly related to the firm's earnings for the year. One of your duties is to review the transactions recorded by the bookkeepers. A new bookkeeper recorded the receipt of $10,000 in cash as an increase in cash and an increase in service revenue. The $10,000 is a deposit and the bookkeeper explains to you that the firm plans to provide the services to the client in March of the following year.
Required:
1. did the book keeper correctly record the client's deposit? explain your answer.
2. what would you do as controller for the firm? do you have a responsibility to do anything to correct the books? explain your answer.

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You are controller for an architectural firm whose accounting year ends on December 31. As part of t...

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