Accountingforcashch5现金的核算

Chapter5AccountingforCashModule5AMoule5BAccountingforCashBankingProceduresModule5AAccountingforCashObjectivesUnderstandaccountingforcashreceiptsandcashpayments.Settingupachangefund,andusingapettycashfund.DefinitionofCashCashincludescurrency(dollarbills)andcoins,cashitemsonhand,andcashondepositinoneormorebankaccounts.Cashitemsonhandincludeschecks,drafts,creditcardreceipts,andmoneyordersthathavenotyetbeendepositedinthebank.InternalControlofCashInternalcontrolinvolvesthemethodsdesignedtosafeguardassets.Aninternalcontrolpolicyrelatingtocashrequiresthatallcashandcashitemsbedepositeddailyinbank.AseparationofdutiesinvolvingthehandlingofcashAmailclerkCashierAaccountingclerkOpenscustomerremittancesandpreparesalistofthechecksfordeposit.Preparesadailydepositslipandmakesthedeposit.Makestheappropriateentriestorecordthereceipt.CashReceiptsCashandcashitemsreceivedbyabusinessareknownascashreceipts.Acashregisterisausefuldevicetorecordreceiptsofcurrencyandcoins.Retailers’ReceiptsofCashCashReceiptsCASHIER’SDEPARTMENTACCOUNTINGDEPARTMENTRegisterrecordsMailReceiptsRemittanceadvicesMailReceipts1ACCOUNTINGDEPARTMENTDepositticketBankCASHIER’SDEPARTMENTDepositreceiptRetailers’ReceiptsofCashCashReceiptsReceiptsofcreditsalesPage141Mostcompanies’invoicesaredesignedsothatcustomersreturnaportionoftheinvoice,callaremittanceadvice.Theinitialrecordofcashreceivedshouldbepreparedbysomeoneotherthantheaccountant.Theaccountantusestheinitialrecordsinpreparingjournalentriesforcashreceipts.Received$172fromapatientformedicalserviceprovided15daysago.CashPaymentsCashandcashitemspaidbyabusinessareknownascashpayments.Paymentmaybemadeincashorbycheck.Whenpaymentsaremadeincash,areceiptshouldbeobtained.Whenpaymentsaremadebycheck,thecanceledcheck(orcheckstubs)servessourcedocument.ThebankaccountsometimesiscalledCashinbank.Ifabusinesshasseveralcashaccounts,cashcanbetransferredbetweenbanks.CashShortandOverCashshortandoverisadifferencebetweenthecashcountandthedailydeposit.MostbusinesseshaveaspecialledgeraccountentitledCashShortandOver.Anyshortagesoroveragesarerecognizedinthejournalentry.Example:Thecashregistertapeonmarch15indicatescashsalesforthedayare$2450.00.Thecashcountindicates$2447.00.CashShortandOverExample:Thecashregistertapeonmarch16indicatescashsalesforthedayare$1983.00.Thecashcountindicates$1992.00.Attheendoftheaccountingperiod,thedebitbalanceofthisaccountisincludedwithMiscellaneousExpenseontheincomestatement.AcreditbalanceisincludedwithMiscellaneousRevenueontheincomestatement.ChangeFundAchangefundisclassifiedasanassetsandappearsinthebalancesheetasacurrentassets.Thejournalentrytoestablishachangefundisasfollows:June1Dr.ChangeFund200Cr.Cash200Alwaysdeducttheamountinthechangefundfromcashbeforemakingthecashdeposit.PettyCashFundSuchafundeliminatesthenecessityofwritingbusinesschecksforsmalldollaramounts.Toestablishapettycashfund,acheckiswrittentoPettyCashforthedesiredamount.Example:May1Dr.PettyCash400Cr.Cash400PettycashisanassetthatcanbelistedbelowCashonthebalancesheet.CreatingaPettyCashFundPettyCashCompanyCashierPettyCashierMay1Pettycash400Cash400Accountant39¢Stamps$45Courier$80OperatingaPettyCashFundPettyCashierApettycashfundisusedonlyforbusinessexpenses.PettyCashFundTomaintaingoodinternalcontrol,oneindividualshouldbeassignedresponsibilityforpettycashfund.Apettycashvoucherisfilledouteachtimethefundisused.Page146Exhibit5.3PettyCashPaymentsrecordAspecialmulti–columnform,knownasapettycashpaymentsrecord,isused.Itsprimaryuseistoprovidetheneededinformationtojournalizethereplenishmentofthepettycashfund.Page148Exhibit5.4PettyCashReplenishingthePettyCashFundPettyCashierReplenishingthePettyCashFundThepettycashfundshouldbereplenishedwheneverthefundrunslow.Example:Jan.31Dr.Automobileexpense40CharitableContributionsExpense30Cr.Cash70Note:Don’tdebitorcreditPettyCashunlessthefundistobeincreasedordecreased.Module5BBankingProceduresObjectiveUnderstandbankingproceduresrelatingtoacheckingaccount.Reconcileabankstatement.Journalizeentriesfromthebankreconciliation.CheckingAccountOpeningaCheckingAccountToopenacheckingaccount,properapprovalisneededfromthebank,alongwithaninitialcashdeposit.Asignaturecardmustbecompletedandsignedbyeachpersonauthorizedtosignchecks.Page157Exhibit5.5MakingDepositsAdepositticketisaformusedbythebank.Itsummarizesthecountofcoins,currencyandchecksbeingdeposited.SeeExhibit5.6CheckingAccountEndorsements1.BlankendorsementThedepositorsimplysignshisorhernameonthebackofthecheck.Thecheckispayabletoanybearer.2.RestrictiveendorsementThedepositoraddswordssuchas”Fordepositonly”.CheckingAccountDepositsbyMailandNightDepositsDepositsbymailshouldconsistonlyofchecks.Anightdepositinvolvesputtingthedepositinasecuredbagandplacingthebaginadesignatedslotatthebank.Abankemployeewilllaterverifythedepositandreturnthereceiptwiththebag.AutomatedTellerMachineElectronicFundsTransfersCheckingAccountWritingCheckAcheckisadocumentthatordersabanktopaycashfromadepositor’saccount.1.Drawer2.Drawee3.PayeeSeepage160Exhibit5.9CheckingAccountTherearetworeco