Are the following statements true or false? Small companies…

Are the following statements true or false? Small companies find segregation of duties easier to implement.  Independent internal verification is not necessary in an effective system of internal control.  A voucher system is a network of approvals by authorized individuals acting independently, to ensure that all disbursements by check are proper.  An employee making the bank deposit should also be the person recording journal entries. 

Before completing its monthly bank reconciliation, Wangerin…

Before completing its monthly bank reconciliation, Wangerin Corp. had a cash balance per books of $50,000. Wangerin’s Bank Statement contained the following items: A debit memorandum for an NSF check of $100 Bank service charges of $30 for the month A credit memorandum for an EFT collection from a customer of $2,000 In addition, Wangerin wrote a check to a supplier in the amount of $25, but the accounting clerk incorrectly recorded the check amount as $52. Deposits in transit were $6,000. What is Wangerin Corp’s adjusted cash balance per the books?