chapter_08 - CHAPTER 8 Internal Control and Cash ASSIGNMENT...

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8-1 CHAPTER 8 Internal Control and Cash ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems 1. Define internal control. 1 1 2. Identify the principles of internal control. 2, 3, 4, 5, 6, 7, 8 2 1, 2, 3 1A, 6A 1B, 6B 3 . Exp la in th e app li ca t io ns o f in t e r na l con t r ol pr in c i - p le s to ca sh re ce ip t s. 3, 10, 11, 12 3 2 1A, 6A 6B 4. Explain the applications of internal control prin- ciples to cash disburse- ments. 13, 14, 15, 16, 17 4 3, 4 6A 1B, 6B 5. Describe the operation of a petty cash fund. 18 5 5 2A 2B 6. Indicate the control fea- tures of a bank account. 17, 19 6 7. Prepare a bank recon- ciliation. 20, 21, 22 7, 8, 9, 10 6, 7, 8, 9, 10 3A, 4A, 5A, 6A 3B, 4B, 5B 8. Explain the reporting of cash. 9, 23 11
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8-2 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Identify internal control weaknesses over cash receipts. Simple 20-30 2A Journalize and post petty cash fund transactions. Simple 20-30 3A Prepare a bank reconciliation and adjusting entries. Simple 20-30 4A Prepare a bank reconciliation and adjusting entries from detailed data. Moderate 40-50 5A Prepare a bank reconciliation and adjusting entries. Moderate 30-40 6A Prepare comprehensive bank reconciliation with theft and internal control deficiencies. Complex 40-50 1B Identify internal control principles over cash disbursements. Simple 20-30 2B Journalize and post petty cash fund transactions. Simple 20-30 3B Prepare a bank reconciliation and adjusting entries. Simple 20-30 4B Prepare a bank reconciliation and adjusting entries from detailed data. Moderate 40-50 5B Prepare a bank reconciliation and adjusting entries. Moderate 30-40 6B Identify internal control weaknesses in cash receipts and cash disbursements. Complex 35-45
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8-3 Correlation Chart between Bloom’s Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Study Objective Knowledge Comprehension Application Analysis Synthesis Evaluation 1. Define internal control. Q8-1 BE8-1 2. Identify the principles of inter- nal control. Q8-2 Q8-3 Q8-4 Q8-5 Q8-6 Q8-7 Q8-8 BE8-2 E8-1 P8-1B E8-2 E8-3 P8-1A P8-6A P8-6B 3. Explain the applications of internal control principles to cash receipts. Q8-10 Q8-11 Q8-12 BE8-3 4. cash disbursements. Q8-15 Q8-16 Q8-17 Q8-13 Q8-14 BE8-4 E8-4 5. Describe the operation of a petty cash fund. Q8-18 BE8-5 E8-5 P8-2A P8-2B 6. Indicate the control features of a bank account. Q8-19 BE8-6 7. Prepare a bank reconciliation. Q8-21 Q8-20 Q8-22 BE8-7 BE8-8 BE8-9 BE8-10 E8-7 E8-6 E8-8 E8-9 E8-10 P8-3A P8-4A P8-5A P8-3B P8-4B P8-5B 8. Explain the reporting of cash. Q8-23 BE8-11 Q8-9 Broadening Your Perspective Financial Reporting Interpreting Financial Statements Group Decision Case Comparative Analysis Ethics Case Communication Exploring the Web BLOOM’S TAXONOMY TABLE
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8-4 ANSWERS TO QUESTIONS 1 . D i s a g r e e . I n t e r n a l co n t r o l is al s o co n c e r n e d wi t h th e sa f e g u a r d i n g of co m p a n y as s e t s f r o m em - p l o y e e th e f t , ro b b e r y , an d un a u t h o r i z e d us e .
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chapter_08 - CHAPTER 8 Internal Control and Cash ASSIGNMENT...

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