会计双语米lesson11.pptVIP

Key Terms Coin Check Money order Bank deposit IOU Postdated check NSF Key Terms Imprest Petty cash Bank reconciliation Replenishment Cash in bank Cash In accounting, the term cash means paper money, coins, checks, money orders and bank deposits-all items that are acceptable for deposit in a bank. Question 11.1 Which of the following items belongs to cash? A. IOUs B. MONEY ORDER C. NSF checks Controlling Cash Received from Cash Sales 1. Cash controls must provide assurance that payments are made for only authorized transactions. 2. Cash controls should ensure that cash is used efficiently. 3. A voucher system provides assurance that what is being paid for was properly ordered, received, and billed by the supplier. Basic Features of the Voucher System A voucher system normally uses vouchers. The system normally has a file for unpaid vouchers and a file for paid vouchers. Usually prepared by the Accounting Department after all necessary supporting documents are received (purchase order, supplier’s invoice, and a receiving report). In preparing the voucher, the accounts payable clerk verifies the quantity, price, and mathematical accuracy of the supporting documents. Problem 11.2 Answer 11.2 * Lesson 11 Cash Control 1. Describe the nature of cash and the importance of internal control over cash. 2. Summarize basic procedures for achieving internal control over cash receipts. 3. Summarize basic procedures for achieving internal control over cash payments, including the use of a voucher system. 4. Account for small cash transactions using a petty cash fund. Objectives After studying this chapter, you should be able to: 19 Cash 3 142 00 Cash Short and Over 8 00 To record cash sales and actual cash on hand. Sales 3 150 00 Cash sales for March 19 totaled $3,150.00 per the cash register tape. After removing the change fund, only $3,142.00 was on hand. Controlling Cash Received in the Mail Most companies’ invoices are designed so that customers return a