中级财务会计英文ch04-文档资料
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Chapter 4-7
Cash
Overdraft
Negative bank account balance reported as a current liability.
Compensating balance
Minimum balance that must be maintained in a company’s account as support for funds borrowed from the bank.
Travel Expenses Customer Business Lunches Express Mail Postage Miscellaneous Office Supplies
$79.30 93.42 55.00 32.48
Prepare the journal entry to record replenishing fund if the balance on July 31 was $137.80.
中级财务会计英文ch04-文档资料
点击此处可添加副标题
Cash and Receivables
Chapter
4
Intermediate Accounting 12th Edition
Kieso, Weygandt, and Warfield
Chapter 4-2
Prepared by Coby Harmon, University of California, Santa Barbara
balances. Permit reconciliation of ledger and bank cash
account balances. Result in the physical control of cash.
Chapter 4-10
Control of Cash Receipts
Cash Over or Short
Ca sh
P o st. Re f.
Page 56
De bit 79.30 93.42 55.00 32.48 2.00
Cre dit 262.20
Chapter 4-18
Bank Reconciliation
Bank Reconciliation is prepared periodically to:
• Treasury bills • Commercial paper • Money market funds
Chapter 4-6
Cash Items that are not cash
Postdated checks Travel advances to employees Postage stamps Receivables from company employees Cash advances to employees or outside parties
statement indicated a cash balance of $9,610, while the cash ledger account on that date shows a balance of $7,430.
Additional information necessary for the reconciliation is shown on the next page.
Adequate source documents must support all checks.
Chapter 4-12
Petty Cash
Imprest fund providing limited cash for routine disbursements
Intended for payment of
Learning Objectives
1. Identify items considered as cash. 2. Indicate how to report cash and related items. 3. Define receivables and identify the different types of receivables. 4. Explain accounting issues related to recognition of accounts
Minor transportation costs Postage Office supplies Delivery charges
Chapter 4-13
Petty Cash
Only entries to Petty Cash
Establish the fund. Increase, decrease or close fund.
Chapter 4-19
Bank Reconciliation
Balance Per Bank Section
Start with balance per bank statement. Add deposits in transit. Deduct outstanding checks. Add or deduct bank errors as appropriate.
Close supervision of cash-handling and cashrecording activities.
Chapter 4-11
Control of Cash Disbursements
Separate responsibilities for:
Cash disbursement documents, Check writing, Check signing, Check mailing, and Record keeping.
Chapter 4-5
Cash Equivalents
Cash equivalents are short-term, highly liquid investments that are readily convertible into known amounts of cash and near their maturity (90 days) when purchased.
Chapter 4-15
Petty Cash
Example
What amount of cash will be required to replenish the petty cash fund?
a. $260.20 b. $262.20 c. $139.80 d. $137.80
Chapter 4-16
$400.00 137.80
$262.20
பைடு நூலகம்
Petty Cash
Example
GENERAL JOURNAL
Da te
De scrip ti o n
Jul 31 Travel Expense
Entertainm ent Expense
Postage Expense
Office Supplies Expense
Chapter 4-4
Cash
Cash includes:
Balances on deposit with financial institutions Coins and currency Petty cash Certain negotiable instruments
Cashier’s checks Certified checks Money orders
Chapter 4-8
Internal Control Policies and procedures designed to:
Protect assets. Ensure compliance with laws and company policies. Provide accurate accounting records. Evaluate performance.
Chapter 4-20
Bank Reconciliation
Balance Per Book Section
Start with balance per books.
Add deposits credited by bank, but not recorded in books.
Deduct bank service charges and NonSufficient Funds (NSF) checks.
Explain the difference between cash reported on bank statement and cash balance on company’s books.
Arrive at the adjusted (correct) cash balance. Provide information for reconciling journal entries.
Chapter 4-14
Petty Cash
Example
Jackson Company maintains a petty cash fund of $400. The following summary information was taken from petty cash vouchers for July:
Petty Cash
Example
What amount of cash will be required to replenish the petty cash fund?
a. $260.20 b. $262.20 c. $139.80 d. $137.80
Chapter 4-17
Desired Balance Actual Balance Amount Needed
notes receivable. 9. Describe how to report and analyze receivables.
Chapter 4-3
Cash
Cash is the resource on hand to meet planned
expenditures and emergency situations.
Separate responsibility for handling cash, recording cash transactions, and reconciling cash balances.
Cash-handling and cash-recording activities assigned to different people.
Chapter 4-9
Internal Control for Cash
Separate custody of and accounting for cash. Maintain only the minimum cash balance
needed. Provide for periodic test counts of cash
Add or deduct book errors as appropriate.
Chapter 4-21
Bank Reconciliation
Example
Prepare a July 31 bank reconciliation statement and the resulting journal entries for the Simmons Company. The July 31 bank
receivable. 5. Explain accounting issues related to valuation of accounts receivable. 6. Explain accounting issues related to recognition of notes receivable. 7. Explain accounting issues related to valuation of notes receivable. 8. Explain accounting issues related to disposition of accounts and
Cash
Overdraft
Negative bank account balance reported as a current liability.
Compensating balance
Minimum balance that must be maintained in a company’s account as support for funds borrowed from the bank.
Travel Expenses Customer Business Lunches Express Mail Postage Miscellaneous Office Supplies
$79.30 93.42 55.00 32.48
Prepare the journal entry to record replenishing fund if the balance on July 31 was $137.80.
中级财务会计英文ch04-文档资料
点击此处可添加副标题
Cash and Receivables
Chapter
4
Intermediate Accounting 12th Edition
Kieso, Weygandt, and Warfield
Chapter 4-2
Prepared by Coby Harmon, University of California, Santa Barbara
balances. Permit reconciliation of ledger and bank cash
account balances. Result in the physical control of cash.
Chapter 4-10
Control of Cash Receipts
Cash Over or Short
Ca sh
P o st. Re f.
Page 56
De bit 79.30 93.42 55.00 32.48 2.00
Cre dit 262.20
Chapter 4-18
Bank Reconciliation
Bank Reconciliation is prepared periodically to:
• Treasury bills • Commercial paper • Money market funds
Chapter 4-6
Cash Items that are not cash
Postdated checks Travel advances to employees Postage stamps Receivables from company employees Cash advances to employees or outside parties
statement indicated a cash balance of $9,610, while the cash ledger account on that date shows a balance of $7,430.
Additional information necessary for the reconciliation is shown on the next page.
Adequate source documents must support all checks.
Chapter 4-12
Petty Cash
Imprest fund providing limited cash for routine disbursements
Intended for payment of
Learning Objectives
1. Identify items considered as cash. 2. Indicate how to report cash and related items. 3. Define receivables and identify the different types of receivables. 4. Explain accounting issues related to recognition of accounts
Minor transportation costs Postage Office supplies Delivery charges
Chapter 4-13
Petty Cash
Only entries to Petty Cash
Establish the fund. Increase, decrease or close fund.
Chapter 4-19
Bank Reconciliation
Balance Per Bank Section
Start with balance per bank statement. Add deposits in transit. Deduct outstanding checks. Add or deduct bank errors as appropriate.
Close supervision of cash-handling and cashrecording activities.
Chapter 4-11
Control of Cash Disbursements
Separate responsibilities for:
Cash disbursement documents, Check writing, Check signing, Check mailing, and Record keeping.
Chapter 4-5
Cash Equivalents
Cash equivalents are short-term, highly liquid investments that are readily convertible into known amounts of cash and near their maturity (90 days) when purchased.
Chapter 4-15
Petty Cash
Example
What amount of cash will be required to replenish the petty cash fund?
a. $260.20 b. $262.20 c. $139.80 d. $137.80
Chapter 4-16
$400.00 137.80
$262.20
பைடு நூலகம்
Petty Cash
Example
GENERAL JOURNAL
Da te
De scrip ti o n
Jul 31 Travel Expense
Entertainm ent Expense
Postage Expense
Office Supplies Expense
Chapter 4-4
Cash
Cash includes:
Balances on deposit with financial institutions Coins and currency Petty cash Certain negotiable instruments
Cashier’s checks Certified checks Money orders
Chapter 4-8
Internal Control Policies and procedures designed to:
Protect assets. Ensure compliance with laws and company policies. Provide accurate accounting records. Evaluate performance.
Chapter 4-20
Bank Reconciliation
Balance Per Book Section
Start with balance per books.
Add deposits credited by bank, but not recorded in books.
Deduct bank service charges and NonSufficient Funds (NSF) checks.
Explain the difference between cash reported on bank statement and cash balance on company’s books.
Arrive at the adjusted (correct) cash balance. Provide information for reconciling journal entries.
Chapter 4-14
Petty Cash
Example
Jackson Company maintains a petty cash fund of $400. The following summary information was taken from petty cash vouchers for July:
Petty Cash
Example
What amount of cash will be required to replenish the petty cash fund?
a. $260.20 b. $262.20 c. $139.80 d. $137.80
Chapter 4-17
Desired Balance Actual Balance Amount Needed
notes receivable. 9. Describe how to report and analyze receivables.
Chapter 4-3
Cash
Cash is the resource on hand to meet planned
expenditures and emergency situations.
Separate responsibility for handling cash, recording cash transactions, and reconciling cash balances.
Cash-handling and cash-recording activities assigned to different people.
Chapter 4-9
Internal Control for Cash
Separate custody of and accounting for cash. Maintain only the minimum cash balance
needed. Provide for periodic test counts of cash
Add or deduct book errors as appropriate.
Chapter 4-21
Bank Reconciliation
Example
Prepare a July 31 bank reconciliation statement and the resulting journal entries for the Simmons Company. The July 31 bank
receivable. 5. Explain accounting issues related to valuation of accounts receivable. 6. Explain accounting issues related to recognition of notes receivable. 7. Explain accounting issues related to valuation of notes receivable. 8. Explain accounting issues related to disposition of accounts and