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Listed below are five procedures followed by Eikenberry Company. 1. Several individuals operate the cash register using the same register drawer. 2. A monthly bank
Listed below are five procedures followed by Eikenberry Company. 1. Several individuals operate the cash register using the same register drawer. 2. A monthly bank reconciliation is prepared by someone who has no other cash responsibilities. 3. Joe Cockrell writes checks and also records cash payment entries. 4. One individual orders inventory, while a different individual authorizes payments. 5. Unnumbered sales invoices from credit sales are forwarded to the accounting department every four weeks for recording. Indicate whether each procedure is an example of good internal control or of weak internal control. If it is an example of good internal control, indicate which internal control principle is being followed. If it is an example of weak internal control, indicate which internal control principle is violated. Procedure IC Good or Weak? Related Internal Control Principle 1. 2. 3. 5. Ch 7: Homework Question 2 of 3 - / 1.5 Bramble company is a patty fond on May 1, shinga check for $105. The come rimbursed refund on June 1 and July with the following results June 1: Cahin Runda 25 Recipe delivery expert $27.25.pose 3A 30. sed miscela pena $3405 July 1. Cash In fund 55.65. Receps.very pense 521.35.entertainment pense 548.20, and miscellaneous pense $29.80 On July 10. Brambe increased the fund from $105 to $135 Prepare journal entries for Bramble Company Creditoccount des are automatically Indented when mount is entered. Do notIndent Manually. Record journal entries in the order presented in the problem. Round answers to 2 decimal places. 52.75.) Date Account Titles and Esplanation Debit Credit
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