SATLY C h aahan lain books Deel. In the amount of $4,000. Theba t for the date shows a balance of 5635 ben c hes in the more 5500 had not yet cleared the bank. A deposit in the amount of 5400 m adele 31 December and wasn't on the bank Achey for m in the amount of 5100 was returned by the hankit CA Cad Accounts CASA Homework Cash el Internal control objectives u are currently part of aniversity workerience program. Your job placement is at the municipal transit centre. Your supervisor is responsiNe for the recording and distribution of monthly transit passes to authorized vendors throughout the city. The vendors pay $50 per bus pass and sell them for $35. Your work experience job is to prepare a monthly reconciliation of the transit passes including the quantity sold, the number actually distributed, the unsold passes, and the cash proceeds. You are unable to reconcile the past two months. The bus passes are sequentially mumbered and in checking the sequence, you notice that numbers 9750 to 9820, 11012 to 11750, and 22000 to 22440 cannot be accounted for you bring this to the attention of the supervisor, who tells you that reconciliations are never done, the job was created by her superior to give you something to do" so you are told not to worry about it. Sous 1. What is the main objective of internal control and how is it accomplished? 2. Why should recordkeeping for assets be separated from custody over the assets? 3. Do you report your findings? pe KON2: Petty cash WilsonArt set up a petty cash fund of $200 on March 1, 2022. On March 17, the petty cash box contained $19 and the following receipts: $75 for printing. 548 for taxi fare, and $55 for delivery expense. Record the reimbursement of the fund on March 17. Ow3 Credit card transactions Tournalize the following transactions (assume a perpetual inventory system: February 1 Recorded $75,000 of sales con 162,000) to customen wsing MasterCard MasterCard charges the retailer 2.5 for credit card transactions February 10 Sold merchandise to customers who paid 120.000 in cash cost $23,000). * ON Debit card transactions Journalise the following transactions (assume a perpetual Inventory system): Oct 1 Recorded sales of $14,000 (cost $8,000) to customers are Assume the bank charges 0.25% for all debt card to 7 Sold merchandise to customers who paid $3.500 inch , O Bank reconciliation Bolton Company's October 31, 2022, bank statement showed a cash balance of $15,400, while the company's General Ledger Cash account for the same date showed a balance of $13,150. A bank deposit of October 31 for $1.200 does not appear on the bank statement. Cheques #150 for $980 and 169 for $2,515, both written in October, had not cleared the bank during October, Bank service charges for the month were $45. Prepare a bank reconciliation at October 31, 2022, and prepare the necessary entries. WA SATLY C h aahan lain books Deel. In the amount of $4,000. Theba t for the date shows a balance of 5635 ben c hes in the more 5500 had not yet cleared the bank. A deposit in the amount of 5400 m adele 31 December and wasn't on the bank Achey for m in the amount of 5100 was returned by the hankit CA Cad Accounts CASA Homework Cash el Internal control objectives u are currently part of aniversity workerience program. Your job placement is at the municipal transit centre. Your supervisor is responsiNe for the recording and distribution of monthly transit passes to authorized vendors throughout the city. The vendors pay $50 per bus pass and sell them for $35. Your work experience job is to prepare a monthly reconciliation of the transit passes including the quantity sold, the number actually distributed, the unsold passes, and the cash proceeds. You are unable to reconcile the past two months. The bus passes are sequentially mumbered and in checking the sequence, you notice that numbers 9750 to 9820, 11012 to 11750, and 22000 to 22440 cannot be accounted for you bring this to the attention of the supervisor, who tells you that reconciliations are never done, the job was created by her superior to give you something to do" so you are told not to worry about it. Sous 1. What is the main objective of internal control and how is it accomplished? 2. Why should recordkeeping for assets be separated from custody over the assets? 3. Do you report your findings? pe KON2: Petty cash WilsonArt set up a petty cash fund of $200 on March 1, 2022. On March 17, the petty cash box contained $19 and the following receipts: $75 for printing. 548 for taxi fare, and $55 for delivery expense. Record the reimbursement of the fund on March 17. Ow3 Credit card transactions Tournalize the following transactions (assume a perpetual inventory system: February 1 Recorded $75,000 of sales con 162,000) to customen wsing MasterCard MasterCard charges the retailer 2.5 for credit card transactions February 10 Sold merchandise to customers who paid 120.000 in cash cost $23,000). * ON Debit card transactions Journalise the following transactions (assume a perpetual Inventory system): Oct 1 Recorded sales of $14,000 (cost $8,000) to customers are Assume the bank charges 0.25% for all debt card to 7 Sold merchandise to customers who paid $3.500 inch , O Bank reconciliation Bolton Company's October 31, 2022, bank statement showed a cash balance of $15,400, while the company's General Ledger Cash account for the same date showed a balance of $13,150. A bank deposit of October 31 for $1.200 does not appear on the bank statement. Cheques #150 for $980 and 169 for $2,515, both written in October, had not cleared the bank during October, Bank service charges for the month were $45. Prepare a bank reconciliation at October 31, 2022, and prepare the necessary entries. WA