Exercise 03.12 – Wolverine Company
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition
Given a list of transactions for the company… prepare to adjust journal entries for the year-end.
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Your numbers will vary.
Given a list of transactions for the company… prepare to adjust journal entries for the year-end.
Your numbers will vary.
Given a list of transactions… prepare adjusting journal entries.
Your numbers will vary.
Record closing entries for Badger Corporation. Afterward, prepare a post-closing trial balance.
Your numbers will vary.
Determine which control activity is violated. A manufacturing company, employees have access, single employee collects cash, compare cash to bank rec, hotline
Discuss internal control procedures related to cash disbursements.
Prepare a bank reconciliation to calculate the correct ending balance of cash, and record the necessary entry.
Your numbers will vary.
Record establishment of petty cash fund, credit card expenditures, petty cash expenditure.
Your numbers will vary.
Record establishment of petty cash fund, credit card expenditures, and petty cash.
Your numbers will vary.
Indicate whether cash is involved, classify it as operating, investing, or financing, inflow or outflow.
Calculate operating cash flows.
Your numbers will vary.