HW Problem 6.1 - Note the internal control principle violated and what could be done to correct it. a. The Paradise Intermediate Parent Teacher Association (PTA) hosted a bake sale to raise money to help fund the school's music program. Students and parents baked cookies and cupcakes and dropped them off at the school auditorium. The PTA president then drove the cookies over to the Thursday night farmer's market where she sold them for a $1 each, keeping the cash receipts in a box on the table. The leftover cookies were given to the food bank. The president took the $228 from the bake sale and deposited it and then gave the deposit slip to the PTA treasurer. b. Your Co. keeps its unnumbered checks in an unlocked desk drawer. c. Tom is the secretary for Big Bucks Corp. and every day he opens the mail and pulls out the checks to give to the accountant. The accountant then prepares a deposit slip and takes them over to the bank. d. Jack & Jill (two long-time employees at Merchandiser Corp.) take turns operating the cash register and helping to stock shelves. Each has a key & access code to the cash register. e. Medium Company's office manager approves all purchase orders and the accountant matches the PO to invoices received and enters invoices into the accounting system. When invoices are due, the accountant generates checks for the office manager to sign. However, if there is an emergency, the accountant can sign the checks (she is also a signatory on the bank account) HW Problem 6.2 - Journalize the following transactions for Yo Company. Feb 3 Withdrew S300 cash from Yo Co's checking account to establish a petty cash fund. Feb 25 Wrote a check to replenish petty cash fund which included $30 in cash and the following receipts. a. Pizza - S48 b. Office Supplies - 589.53 c. Postage - $67.35 d. Mileage - $ 73.25 Mar 9 Wrote a check to replenish petty cash fund which included $36 in cash and the following receipts. a. Postage - $32 b. Miscellaneous - S26.45 c. Refreshments - $52.89 d. Office Supplies - S145.22 Mar 11 Wrote a check for $200 to increase the petty cash fund