the records of anacker company indicate a july 31 cash 267275

The records of Anacker Company indicate a July 31 cash balance of $9,400, which includes undeposited receipts for July 30 and 31. The cash balance on the bank statement as of July 31 is $6,575. This balance includes a note of $4,000 plus $160 interest collected by the bank but not recorded in the journal. Checks outstanding on July 31 were as follows: No. 370, $580; No. 379, $615; No. 390, $900; No. 1148, $225; No. 1149, $300; and No. 1151, $750. On July 3, the cashier resigned, effective at the end of the month. Before leaving on July 31, the cashier prepared the following bank reconciliation:



Subsequently, the owner of Anacker Company discovered that the cashier had stolen an unknown amount of undeposited receipts, leaving only $1,000 to be deposited on July 31. The owner, a close family friend, has asked your help in determining the amount that the former cashier has stolen.

1. Determine the amount the cashier stole from Anacker Company. Show your computations in good form.

2. How did the cashier attempt to conceal the theft?

3. a. Identify two major weaknesses in internal controls that allowed the cashier to steal the undeposited cash receipts.

b. Recommend improvements in internal controls, so that similar types of thefts of undeposited cash receipts can beprevented.