Excercise 1

1. Dana kas kecil harus diisi ulang ketika terjadi pengeluaran yang digunakan untuk
pembelian perlengkapan yang pengeluarannya relatif kecil. Biasanya perusahaan melakukan
pengisian kembali pada akhir bulan tetapi ada juga yang diawal atau pertengahan. Itu semua
tergantung kebijakan akuntansi masing-masing perusahaan

2. > Imprest Fund Method

Ginther Company
Petty Cash
December 2018
Date Description Ref Dr Cr
2018 31 Freight In $ 26.4 -
Dec Postage $ 45.0 -
Ballons For A Special Occasion $ 28.0 -
Meals $ 35.0 -
Selisih Kas $ 2.0 -
Cash In Bank - $ 136.4

> Fluctiation Fund Method

Ginther Company
Petty Cash
December 2018
Date Description Ref Dr Cr
2018 31 Petty Cash $ 200,000 -
Dec Cash In Bank - $ 200,000

3. Imprest fund method & fluctuation fund method

Ginther Company
Petty Cash
December 2018
Date Description Ref Dr Cr
2018 31 Petty Cash $ 50 -
Dec Cash In Bank - $ 50
Exercise 2

> Journal entries to estabilish the petty cash

Ellington Company
Petty Cash
October 2018
Date Description Ref Dr Cr
2018 1 Petty Cash $ 200.0 -
Dec Cash in Bank - $ 200.0

> Journal entries to replenishment of the fund

Ellington Company
Petty Cash
October 2018
Date Description Ref Dr Cr
2018 31 Freight In $ 27 -
Dec Supplies Expense $ 42 -
Entertainment Of Clients $ 65 -
Postage Expense $ 20 -
Selisih Kas $ 4 -
Cash In Bank - $ 158
Exercise 3

> Journal entries to estabilish the petty cash

Ernest Company
Petty Cash
March 2018
Date Description Ref Dr Cr
2018 1 Petty Cash $ 200 -
Dec Cash in Bank - $ 200

> Journal entries to replenishment of the fund

Ernest Company
Petty Cash
March 2018
Date Description Ref Dr Cr
2018 15 Stamp Inventory $ 76 -
Dec Freight Out $ 42 -
Miscellanious Expense $ 22 -
Travel Expense $ 49 -
Miscellanious Expense $ 10 -
Cash In Bank - $ 199
Exercise 4

List the outstanding checks at May 31

Check No. Amount
357 615
361 800
364 840
Excercise 5

a. b.
Bank Sky's Company SKY C
Cash Balance $ 5,300 Cash Balance $ 5,705 ADJUSTI
(+) Deposit In Transit $ 750 (-) NSF Check $ 1,070 Janu
( - ) Outstanding Check $ 1,450 (-) Bank Service Charge $ 35 Date
$ 4,600 $ 4,600 Jan 31

31
 SKY COMPANY
ADJUSTING ENTRIES
January 31
Desc Ref Dr Cr
Bank Service Charge $ 35 -
Cash - $ 35

Cash In Bank $ 1,070 -

Account Receivable - $ 1,070
Total $ 1,105 $ 1,105
Excercise 6

Bank Lee Company

Balance $ 24,635 Balance $ 22,225
Increase : Increase:
(+)Deposit In Transit $ 4,695 (+)Account Receivable $ 2,250
$ 29,330 (+)Interest Of Notes $ 50
(+)Interest Earned $ 40
$ 24,565

Descrease : Descrease :
(-)Outstanding Check $ 5,575 (-)NSF Check $ 735
(-)Safety Deposit Box rent $ 75

$ 23,755 $ 23,755
Brief Exercise (Internal Control System)

BE-1 Match the principle of internal control to each of the following cases.
Principle of Internal Control Cases
a) Establishment of responsibility E
B
b) Segregation of duties
c) Accountability for assets D
d) Documentation procedures C
e) Physical controls A

BE-2 Identify which principle of internal control is being followed in each of the following cases
Principle of Internal Control Cases
a) Segregation of duties A
b) Documentation procedures
c) Physical controls B

BE-3 Identify the internal control procedures applicable to cash receipts for Ferguson Company in each of the
following cases.
Principle of Internal Control Cases
Human Resource 1. All cashiers are bonded.
Independent Internal Verification 2. The treasurer compares the total cash receipts to the bank deposit daily.
Accountability Of Assets 3. The bookkeeper records cash receipts which are held by the treasurer.
Establishment Of Responsibility 4. Only the treasurer holds cash receipts.
Documentation Procedures 5. Deposit slips are completed for each deposit.

BE-4 Identify the internal control procedures applicable to cash disbursements followed by Downey
Company in each of the following cases.
Principle of Internal Control Cases
Documentation Procedures 1. Company checks are prenumbered.
Establishment Of Responsibility 2. Only the treasurer is authorized to sign checks.
Human Resource 3. All employees are required to take vacations
Physical Control 4. Blank checks are stored in a locked safe.
Segregation Of Duties 5. The bookkeeper, not the treasurer, records cash
disbursements
al control to each of the following cases.
Cases
1. Cash is locked in a safe overnight.
2. Employees who receive shipments of goods do not have
access to the accounting records for merchandise.
3. Shipping documents are prenumbered.
4. The bookkeeper does not have physical custody of assets.
5. Only the treasurer of the company can sign checks.

ternal control is being followed in each of the following cases

Cases
1. Warehouse employees do not have access to the
accounting records.
2. Prenumbered shipping documents are prepared for each
shipment of goods.
3. The locked warehouse is accessible only by warehouse
employees with keys.

procedures applicable to cash receipts for Ferguson Company in each of the

Cases
1. All cashiers are bonded.
2. The treasurer compares the total cash receipts to the bank deposit daily.
3. The bookkeeper records cash receipts which are held by the treasurer.
4. Only the treasurer holds cash receipts.
5. Deposit slips are completed for each deposit.

procedures applicable to cash disbursements followed by Downey

Cases
1. Company checks are prenumbered.
2. Only the treasurer is authorized to sign checks.
3. All employees are required to take vacations
4. Blank checks are stored in a locked safe.
5. The bookkeeper, not the treasurer, records cash
disbursements