Chapter 6 Homework "A" Series
Problems
Problem
63A.
When completing this problem, accomplish a reconciliation (i.e., remaining cash +
receipts compared to petty cash authorization amount) to see if
there is an overage or shortage.
Problem
65A. Reminder....you have to perform a
complete reconciliation of company's receipts and payments to
the related deposits and checks on the bank statement, to
determine the deposits in transit, outstanding checks, and any
remaining unmatched items.
Comprehensive Problem
We have finished the chapters associated with this problem and
you are in a position to start work on this optional extra credit comprehensive problem.
This problem is to be accomplished
manually. All necessary forms can be downloaded from the
"Generic Working Papers"
section on the "Course Resources"
webpage. When completed, turn in
your completed General Journal containing all the required entries
and your Adjusted Trial Balance.
Additional Notes for Completion of the Problem
1. The only items to be used are the months' transactions (April 130) and
the adjusting entries (Items "a" through "f") in
Instruction No. 4.
2. Note
that this problem is for a proprietorship form of business.
Therefore, use the owner's Capital and Withdrawals accounts
instead of the textbook's Common Stock and Dividends accounts.
3. After posting the months' transactions, be sure to
produce a
trial balance. You will need the trial balance to make the computations for
some of the adjusting entries.
A copy of the comprehensive
problem instructions is now available. Download the problem information by clicking on the
appropriate format in the "Problem / Document Downloads" section above.
Chapter 5 Homework
Problem
Problem 51A contains a task (Requirement 3d) to
compute the cost of goods sold and inventory for the Specific
Identification Method. Since we did not cover this
method in Chapter 5, I am providing the data for you to input
to the Connect Homework System. You can download this
data from the "Problem / Documents Downloads" section above.
Submission
of
Homework Problems
Just a reminder that you have
an unlimited number of submissions
for your homework assignments. On each
new attempt, students revise their previous attempts (you are not
required to start over).
Financial Statement Errors
One of the initial more common errors, in the preparation
of financial statements, is the omission of titles for
accounts and totals on the reports. When
completing your assigned problems, make sure every line on
each report has an appropriate title.
Access
to the Course eBook
For those individuals that may have difficulty
accessing the eBook and finding the "B"
Problems for homework makeups, I am
providing a PowerPoint on the eBook access process.
Click on the icon to download the PowerPoint presentation.
