Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question Describe in details the work Jim Adams performs (i.e., Receipt of Cash) on page 21 #26 of the SUA case. 1. Receives check, 2.

image text in transcribed
Question Describe in details the work Jim Adams performs (i.e., Receipt of Cash) on page 21 #26 of the SUA case. 1. Receives check, 2. Includes a customer PO if it is a cash sales 3. Endorses check restrictively, 4. Enters on cash receipts prelist, 5. With the above, Adams is assisted by Nancy Ford, 6. Check goes to Kramer for deposit, 7. Makes entry in C/R and A/R sub. ledger (if it's collections collected), 8. Files cash receipt prelist numerically in a temporary file. Question Describe in details the work Jim Adams performs (i.e., Accounting) on page 22 of the #27 SUA case. 1. Receives invoice from vendor, 2. With receiving report and approved PO from file, notes and resolves differences in Qty. \& prices, adjusts documents and initials invoice, 3. Makes entry in P/J and A/P sub. ledger, 4. If it's a fixed asset acquisition, records in fixed asset sub. ledger, 5. If it's not a fixed asset acquisition, attaches vendor invoice, approved PO, and receiving report, 6. Files these documents in temporary vendor's file by due date. Question Describe in details the work Jim Adams performs (i.e., Receipt of Cash) on page 21 #26 of the SUA case. 1. Receives check, 2. Includes a customer PO if it is a cash sales 3. Endorses check restrictively, 4. Enters on cash receipts prelist, 5. With the above, Adams is assisted by Nancy Ford, 6. Check goes to Kramer for deposit, 7. Makes entry in C/R and A/R sub. ledger (if it's collections collected), 8. Files cash receipt prelist numerically in a temporary file. Question Describe in details the work Jim Adams performs (i.e., Accounting) on page 22 of the #27 SUA case. 1. Receives invoice from vendor, 2. With receiving report and approved PO from file, notes and resolves differences in Qty. \& prices, adjusts documents and initials invoice, 3. Makes entry in P/J and A/P sub. ledger, 4. If it's a fixed asset acquisition, records in fixed asset sub. ledger, 5. If it's not a fixed asset acquisition, attaches vendor invoice, approved PO, and receiving report, 6. Files these documents in temporary vendor's file by due date

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions