Acc 557 Chapter 8 Homework

E8-5| | | | Correct.|  |  | Listed below are five procedures followed by The Beat Company. 1. some(prenominal) individuals point the funds understand using the same register drawer. 2. A monthly bank reconciliation is prepared by psyche who has no other cash responsibilities. 3. Ellen may writes obliges and excessively records cash payment journal entries. 4. One individual orders inventory, piece a different individual authorizes payments. 5. Unnumbered gross revenue invoices from acknowledgement sales are forwarded to the accounting department every quaternion weeks for recording. instruction manual Indicate whether each procedure is an example of frankly intimate nurse or of weak internal aver. If it is an example of good internal control, indicate which internal control principle is being followed. If it is an example of weak internal control, indicate which internal control principle is violated. Use the table below. P rocedure| IC skilful or Weak| Related Internal Control principle| 1.| | | 2.| | | 3.| | | 4.| | | 5.| | | Click here if you would like to Show Work for this interrogation E8-7| | | | Correct.|  |  | crowd together Hughes Company established a little cash livestock on May 1, cashing a check for $100.

  The company reimbursed the lineage on June 1 and July 1 with the pursuit results. June 1: exchange in livestock $2.75. Receipts: spoken communication set down $31.25; cast write off $39.00; and miscellaneous expense $25.00.| July 1: Cash in fund $3.25. Receipts: saving expen se $21.00; entertainment expense $51.00; and! miscellaneous expense $24.75.| On July 10, James Hughes increased the fund from $100 to $150. Instructions set journal entries for James Hughes Company for May 1, June 1, July 1, and July 10.  (For multiple calculate/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2. Round answers to 2 decimal places, e.g. 10.50.) consider| Account / Description| Debit| faith| May 1| | $|  |  |          |  |...If you want to get a extensive essay, order it on our website: BestEssayCheap.com

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