chapter 7 - 7328 Add add deposits in transit 1700 Less...

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EX 3 1 independent internal verification: it is not good to be in charge of cash if your not bonded 2 establish of responsibility: if someone makes a mistake you won't know because you don't have different registers 3 physical, mechanical,a dn electronic controls: need to establish a safe system 4 independent internal verification: you have to have a segration of duties 5 segregation of duties: you need to keep a segregation of duties EX 6 a 4005.2 b 4005.2 c EX 8 Cash balance per bank
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Unformatted text preview: 7328 Add: add deposits in transit 1700 Less: outstanding checks 772 Adjusted balance per bank 8256 cash balance per books 7280 Add:Notes recievable 1016 Less: service charge 40 adjusted balance per books 8256 Cash 1016 Miscellaneous Expense 20 Notes recievable 1000 interest Revenue 36 Miscellaneous Expense 40 cash 40 EX 12 60 10000 300 85 2500 4000 25 16970 EX 13 I would suggest that they take out a minor loan until they build up a clientele. 3 6 8 12 13...
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This note was uploaded on 11/15/2009 for the course ENG 401 taught by Professor Mess during the Spring '09 term at Northwood University, Michigan Campus.

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chapter 7 - 7328 Add add deposits in transit 1700 Less...

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