ACC 556 Week 4 Assignment Help | Strayer University
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- 27 Jul 2020
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ACC 556 Week 4 Assignment Help | Strayer University
Brief Exercise
Brief Exercise 7-06
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The cash register tape for Larkspur Industries reported sales of
$10,169.80.
Record the journal entry that would be necessary for each of the following
situations. (a) Sales per cash register tape exceeds cash on hand by $75.11.
(b) Cash on hand exceeds cash reported by cash register tape by $41.90. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles
are automatically indented when amount is entered. Do not indent manually.)
Exercise 7-03
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Listed below are five procedures
followed by Eikenberry Company.
Indicate whether each procedure is an example of good internal control or of
weak internal control. 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.
Brief Exercise 7-04
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The internal control procedures in Dayton Company result in the
following provisions.
Identify the principles of internal control that are being followed in each
case.
Brief Exercise 7-10
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The following reconciling items are
applicable to the bank reconciliation for Forde Co.
Indicate how each item should be shown on a bank reconciliation
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Problem 7-03A On July 31, 2022, Sunland Company had a cash balance per books of
$6,275.00. The statement from Dakota State Bank on that date showed a balance
of $7,825.80. A comparison of the bank statement with the Cash account
revealed the following facts.
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Exercise 7-12
Prepare the adjusting entries at September 30, assuming the NSF
check was from a customer on account. (Credit account titles are automatically indented
when amount is entered. Do not indent manually.)
Exercise 7-06 a
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The following control procedures are used in Bunny’s Boutique Shoppe for
cash disbursements.
(a) For each procedure, explain the weakness in internal control
and identify the internal control principle that is violated.
Exercise 7-08
Journalize the adjusting entries at August 31 on the books of
Sandhill Company. (Credit
account titles are automatically indented when amount is entered. Do not indent
manually.)
Exercise 7-04
Listed below are five
procedures followed by Gilmore Company.
Indicate whether each procedure is an example of good internal control or of
weak internal control. 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.
Brief Exercise 7-08
Tott Company has the following internal control procedures over
cash disbursements.
Identify the internal control principle that is applicable to each procedure.
Brief Exercise 7-05
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Jolson Company has the following internal control procedures over cash
receipts.
Identify the internal control principle that is applicable to each procedure.
Brief Exercise 7-07
While examining cash receipts information, the accounting
department determined the following information: opening cash balance $216,
cash on hand $1,621.07, and cash sales per register tape $1,423.61.
Prepare the required journal entry based upon the cash count sheet. (Round answers to 2 decimal places, e.g.
52.75. Credit account titles are automatically indented when amount is entered.
Do not indent manually.)
Brief Exercise 7-12
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At July 31, Oriole Company has this bank information: cash balance per
bank $8,085, outstanding checks $755, deposits in transit $1,390 and a bank
service charge $25.
Determine the adjusted cash balance per bank at July 31.
USA 
India