XACC290WEEK8 - XACC/290 WEEK 8 DQS REPORTING What...

Info icon This preview shows pages 1–2. Sign up to view the full content.

XACC/290 WEEK 8 DQ’S REPORTING What statements are cash reported in? Why? What is the significance of that reporting? Companies report cash in two different statements: the balance sheet and the statement of cash flows. The balance sheet reports the amount of cash available at a given point in time. The statement of cash flows shows the sources and uses of cash during a period of time. It is important for the owners and other financial statement users one very important thing which is how much cash the company generates. WHO OPENS THE MAIL Please explain why who opens the mail and makes bank deposits have to do with cash receipts management. Anyone can respond. When the mail arrives, the person who opens the mail record all checks and cash onto a deposit slip. On the deposit slip have the person name of the paying party, the check number, and the amount paid. If the receipt was in cash, then they write the name of the paying party, check the "cash" box, and the amount paid. Once all line items have been completed, they put the grand total in the "total receipts" field at the bottom of the form. Sign the form, and state the date on
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern