disbursements for salaries and wages shall be supported by:

Q: Which of the following internal controls is a common detective control over cash and cash…

A: Internal control  is implemented, to maintain effectiveness, efficiency, ,follow the policies,…

Q: Which of the following serve as the basis for recording appropriate expenses each time the fund is…

A: The custodian is responsible for the petty cash fund. At the ending of accounting period the fund is…

Q: 10) An employee signs general cash disbursement checks.  This activity is an example of       A)…

A: An employee signs general cash disbursement checks.  This activity is an example of " Independent…

Q: Bank accounts to administer payroll are often on an imprest basis, as in they are usually at zero…

A:

Q: when a company receives a deposit from a customer to protect itself against nonpayment for future…

A: Revenue is the amount of money created by typical business operations and is determined by…

Q: The department responsible for approving pay rate changes is a. payroll b. treasurer c. personnel d.…

A: Correct Option is “c”: Personnel. Personnel Department: This department is responsible for the…

Q: Which of the following results to the recognition, in the books of accounts, expenses classified as…

A: Personnel expenses means the amount paid to employee for the services rendered. It is an expenses to…

Q: What is the purpose of the following control procedures (i.e., what threats is it designed to…

A: To protect the assets and to enhance the accuracy and reliability of its accounting records,…

Q: Which of the following generally would be considered good internal control of cash disbursements? a.…

A: Cash controls:   Management must have a safety measure to protect all assets against possible…

Q: Incorporate the following data into Bank X's revenue statement. Each item should be labelled and…

A: Financial Statement: financial statement is an organized information about the financial position…

Q: Requiring an employee who does not handle accounting records to open the mail is an example of…

A: Accounting is the process of recording, classifying and summarising accounting information. After…

Q: The purpose of a petty cash fund is toa. Provide a convenient form of payment for the company’s…

A: Petty cash fund:   Petty cash fund is a fund established to pay insignificant amounts like postage,…

Q: Explain how each of the following items is reported in a complete set of financial statements,…

A: Financial statements comprises of income statement, balance sheet and cash flow statement in which…

Q: When we have established an allowance for uncollectible accounts, how do we write off an account…

A: Account receivable: The amount of money to be received by a company for the sale of goods and…

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A: Management Assertion: Management assertion refers to the claim made by management assuring about…

Q: Which of the following statements is true? Group of answer choices Companies typically report gross…

A: The objective of the question is to identify the correct statement about how companies typically…

Q: The removal of cash from a victim organization before the cash is entered in the organization’s…

A: An accounting system is a tool used to keep track of all types of financial transactions. It is used…

Q: Which of the following is issued by a company to the responsible staff in order to establish a petty…

A: The petty cash fund is established for daily basis small cash expenses of the business.

Q: receivables

A: There are two methods in accounting for uncollectible receivable  (1) Allowance method (2) Written…

Q: Which of the following entries would be required to account for a reimbursement to the petty cash…

A: Petty cash funds are those funds which are established for small petty expenses in the business.…

Q: f an accountant mistakenly uses the General journal to record a payment of cash for a bill that is…

A:

Q: 3 Question 3 In which 2 scenarios would it be best practice to delete a paycheck? An employee…

A: Paycheck is a piece of paper that your employer gives you as your wages or salary, and which you can…

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A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Why should cash receipts be deposited on the same day they are received?

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Q: Explain the treatment of certified check for bank reconciliation purposes

A: Solution A certified check is a check for which issuing bank guarantees the availability of cash in…

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A: Normally an individual designated as the petty cash custodian, is responsible for the controlling…

Q: 29. In accordance with the GAM for NGAs and the Revised Chart of Accounts, how does a government…

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Q: Explain

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A: Bank statement: This is a periodic or monthly statement issued by bank reporting the account summary…

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A: The question is asking us to identify the act that sets the procedures for resolving billing errors…

Q: Indicate whether this amount would require any adjustment to the reported balance (add/+, deduct/-,…

A: Cash includes checks,bank drafts and money orders etc.Cash equivalents are short term and highly…

Q: Which one of the following would NOT be considered as a substantive procedure? O a. Estimating…

A: Substantive Procedure:- Substantive procedure is a process or a step that is used as evidence…

Q: 6) Identify and receipts and

A: Answer; Cash receipts are the receipts that are received by company on account of any sales or…

Q: describe the structure of a bank bill. In your explanation, clearly distinguish the roles of the…

A: Introduction: An invoice of barter is a criminal assumption that binds one party to pay another a…

Q: What risks are associated with the payroll procedures depicted in the flowchart? b. Discuss two…

A: As there are multiple questions only the problem 2 regarding payroll controls has been solved due to…

Q: The Select one: establishes procedures for resolving billing errors on credit card accounts and…

A: The objective of the question is to identify the correct act that establishes procedures for…

Q: 49. All of the following are considered valid cashless disbursement except Purchase of goods using…

A: Cashless disbursement means payment methods used without use of direct cash involved.

Q: A government entity pays an accounts payable. The entry to record the payment will most likely…

A: The answer is provided as follows:

Q: an internal control over cash receipts and disbursements, should be prepared on a monthly basis and…

A: Note: Since you have asked multiple questions, we will solve the first question for you. If you want…

Q: Singletary Associates has accounts receivable due from normal credit customers and also has an…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…