Accouting Exercies Essay

1730 Words Aug 22nd, 2013 7 Pages
Chapter 6
Internal Control and Financial Reporting for Cash and Merchandise Sales
ANSWERS TO EXERCISES

E6–4
Req. 1

a. Document procedures b. Segregate duties / Document procedures c. Establish responsibility d. Independently verify e. Document procedures f. Independently verify

Req. 2
| Steps | Documentation | Performed By |
|1. Request that goods or services be |Purchase requisition |Sales manager |
|ordered. | | |
…show more content…
E6–6

Req. 1
CADIEUX COMPANY
Bank Reconciliation
September 30, 2011

|Bank Statement | |Company’s Books | | |
|Ending balance per bank statement | |Ending balance per Cash account | | |
| |$ 230 | | |$2,650 |
| | | | | |
|Additions: | |Additions: | | |
| Deposit in transit |2,500 | EFT | | 150 |
| | 2,730 | | | 2,800 |
|Deductions: | |Deductions: | | |
| | | Bank service charges |$ 20 | |
| Outstanding checks | (50) | NSF

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