Exercise 04.07 – Goldie and Kate
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition
Discuss internal control procedures related to cash disbursements.
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.
Record establishment of petty cash fund, credit card expenditures, petty cash expenditure.
Record establishment of petty cash fund, credit card expenditures, and petty cash.
Indicate whether cash is involved, classify it as operating, investing, or financing, inflow or outflow.
Calculate operating cash flows.
Calculate investing cash flows.
Calculate financing cash flows.
Calculate the correct ending balance of cash for Ballet Shoes on August 31 by preparing a bank reconciliation. Record the necessary entry or entries to adjust the balance for cash.
They give you a long list of items and ask which are subtracted from net income (decrease in accounts receivable, issue common stock, etc.)