Home Insert Draw Page Layout Formulas Data Review View fox 23 B D F H Tahoe Ski Company uses the perpetual inventory system and the gross method of accounting for purchases. The company had the following transactions during January: January 6 Purchased $4,000 of inventory. The seller's credit terms are 2/10,n/30. January 8 Returned $200 worth of defective units and received full credit. January 15 Paid the amount due, less the returned items. 20 points Prepare the journal entries to record the transactions on all three dates. Show calculations below 9 You're not finished! There are SEVEN problems, each on a different tab. Debit Credit 0 21 22 23 General Journal: 24 25 Date Account Titles and Explanation 26 27 28 29 30 31 32 Problem 21 Problem 22 Problem 23 Problem 24 Sed destination and press ENTER Ohoose Paste Type here to search Problem 25 Problem 26 Problem 27 O . C D H M N You're not finished! There are SEVEN problems, each on a different tab. 22 Match each of the following transactions with the applicable internal control principle that is being violated (1 point each) A Establish responsibility B. Maintain adequate records C. Insure assets and bond employees D. Separate recordkeeping from custody of assets E Divide responsibility for related transactions F. Apply technological controls G. Perform regular and independent reviews 1. Cashiers have access to the cash register recorded tape or fille 2. A company uses a voucher system, but the cash disbursement clerk pays directly from invoices received 3. Only sales clerks use the cash register, but they all share the same cash drawer 4. The bookkeeper prepares and signs checks and completes the bank reconciliation 5. A restaurant allows servers to keep cash collected in their aprons and ring in all sales at the end of the night 6. A company fails to hire a CPA to perform an annual audit 7. A company does not bond its key cash-handling employees 8. A company has a single department that handies purchasing, receiving and inventory management 9. A company fails to have financial records tested and evaluated for the effectiveness of internal control 10. A company manager keeps pre-signed checks in his desk drawer for employees to hand write when the accountant is out of the office 7 2 28 30 31 32 Prom 21 Problem 22 Problem 24 Problems Potser Type here to search O B 8 E R M 21 D G H K A company entered into the following transactions. Match each transaction with the appropriate journal in which it should be recorded by placing the letter of the appropriate answer in the blank provided. (1 point each) A. Sales journal B. Purchases journal C. Cash receipts journal D. Cash disbursements journal E. General journal C. E. B 1. Borrowed $7,000 cash from the local bank 2. A customer returned a $250 item purchased on account. 3. Purchased merchandise on account, $2,100. 4. Purchased equipment on account for $4,000. 5. Paid $15,000 cash in wages to employees. E D You're not finished! There are SEVEN problems, each on a different tab. Problem 23 Problem 24 Problem 25 Problem 26 Problem 27 Problem 21 Problem 22 destination and press ENTER or choose Paste O i Type here to search