Acc 557 Chapter 8 Homework

E8-5| | | | Correct.|  |  | Listed below are five procedures followed by The Beat Company. 1. some(prenominal) individuals go bad the coin understand using the same register drawer. 2. A monthly bank reconciliation is prepared by individual who has no other cash responsibilities. 3. Ellen may writes punctuates 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 obediently lettered nurse or of weak internal concord. If it is an example of good internal control, indicate which internal control principle is existence followed. If it is an example of weak internal control, indicate which internal control principle is violated. Use the table below. Procedure| IC healthful or Weak| Related Internal Control rule| 1.| | | 2.| | | 3.| | | 4.| | | 5.| | | Click here if you would like to Show Work for this head word E8-7| | | | Correct.|  |  | crowd together Hughes Company established a bantam cash livestock on May 1, cashing a check for $100.

  The company reimbursed the lineage on June 1 and July 1 with the spare-time activity results. June 1: exchange in livestock $2.75. Receipts: talking to set down $31.25; cast put down $39.00; and miscellaneous expense $25.00.| July 1: Cash in fund $3.25. Receipts: l egal transfer expense $21.00; entertainment ! expense $51.00; and miscellaneous expense $24.75.| On July 10, James Hughes increased the fund from $100 to $150. Instructions gain 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.) interlocking| 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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