COMPREHENSIVE EXAMINATION B PART 2 (Chapters 7–9) Problem B-I — Multiple Choice — Cash and Receivables. Choose the best answer for each of the following questions and enter the identifying letter in the space provided. 1. When should the loss on an uncollectible account receivable be recorded as an expense for accrual accounting purposes? a.
Because the first steps in validating the customer authorization to use the ATM card is the same for making a deposit as it is for making a withdrawal, the use cases have a relationship. When two or more use cases have common steps we are able to break out those steps into their own use case, which is able to be referenced by other use cases. “For example, if we added an alternate scenario called Card Reader Failed which addresses the case when there is a mechanical failure in card reader mechanism, this would now be a possible outcome of an Account Holder trying to initiate a deposit transaction with an ATM” (Smith). After the validation process is completed the customer would then select the deposit option to enable them to make a deposit into their account. Once the customer selects the deposit option and the account information is retrieved the customer will then be asked to enter the amount to be deposited.
ACC 422 Week 5 Final Exam http://www.homeworkarena.com/acc-422-final-exam-perfect-solution 1) Which of the following is NOT considered cash for financial reporting purposes? A. Postdated checks and I.O.U.’s B. Money orders, certified checks, and personal checks C. Petty cash funds and change funds D. Coin, currency, and available funds 2) What is the preferable presentation of accounts receivable from officers, employees, or affiliated companies on a balance sheet? A. As assets but separately from other receivables.
Create a table with three columns – one for account titles, another for debits and the other for credits. At the top of the table ensure that a date is included so that when accountants look back they know what accounting period it is referring to. 3. Fill in the account titles and record their balances in the appropriate debit or credit columns. The data that will be entered can be found in the general
B2 – Describe the information which needs to be shown on an employee pay slip The information on the pay slip keeps records for three different parties; the tax office, the company or employer, the employee being paid. The date This is the date the finances should be credited into the designated bank account. This is usually made by BACS transfer, although employee could also be paid in cash or by Cheque. Employee personal information The name of the employee being paid and sometimes a home address will be included on the payslip. National Insurance Every Employee should have an NI number to work in the UK.
Communication Activity ACC557 BYP8-5 Assignment A letter to Jerry Mays 11/5/2011 Dear Mr. Mays During the time at your company, I reviewed the internal controls over mail cash receipts of your company. I found some areas of weaknesses within the mail cash receipts process needed to be addressed. Also provided for your convenience are my recommendations for improving the process system. Weaknesses: 1. Checks are promptly endorsed "For Deposit Only" 2.
Then make sure Line Spacing is double and spacing before and after is 0 pt. In the Page Layout tab, check that the margins are “Normal,” which is 1 inch all around. Begin your paper by getting your reader’s attention. We call this the hook. You might start with a story, a description of a problem, a
The accounting department supervisor independently reconciles the accounts receivable subsidiary ledger to the accounts receivable control account monthly. C. The accounting department supervisor controls the mailing of monthly statements to customers and investigates any differences reported by customers. D. The billing department supervisor matches prenumbered shipping documents with entries in the sales journal. AICPA AACSB: Analytic AICPA BB: Critical Thinking AICPA FN: Risk Analysis Bloom's: Application Difficulty: Hard 32. Which of the following internal control activities most likely would assure that all billed sales are correctly posted to the accounts receivable ledger?
(Hint: Press the Ctrl key and drag the sheet tab to the right of the Pledges sheet tab to make a copy of the worksheet.) In the Q4-6 worksheet, use the Custom Sort command to sort by Donor Type (A to Z), then by Fund Name (A to Z), and then by Amt Pledged (Largest to Smallest). 5. In the Q4-6 worksheet, insert a Total row. Calculate and display the following: a) the number of pledges in the Donor Name column; b) the average pledge in the Amt Pledged column; c) the total amount received in the Amt Received
Online Statements look the same as your paper statements and are available online, 24/7. They also lessen the risk for fraud and identity theft that comes with paper statements. With all of these advantages, who needs paper? To learn more