Questions from Financial Accounting

Q: Rhonda Dunbar served as executive director of Downtown Forest Lake, an

Rhonda Dunbar served as executive director of Downtown Forest Lake, an organization created to revitalize Forest Lake, Minnesota. Over the course of 11 years, Dunbar embezzled $444,000. How did Dunbar...

Q: F. L. Hardy’s checkbook lists the following:

F. L. Hardy’s checkbook lists the following: The October bank statement shows: Requirement 1. Prepare Hardy’s bank reconciliation at October 31, 2017.

Q: Dean White operates a roller skating center, Rinkland USA. He

Dean White operates a roller skating center, Rinkland USA. He has just received the monthly bank statement at March 31 from Peoples National Bank, and the statement shows an ending balance of $740. Li...

Q: Use the data from Exercise 4-20A to make the journal

Use the data from Exercise 4-20A to make the journal entries that White should record on March 31 to update his Cash account. Include an explanation for each entry. From Exercise 4-20A Dean White op...

Q: Orchard Stores use point-of-sale terminals as cash registers

Orchard Stores use point-of-sale terminals as cash registers. The register shows the amount of each sale, the cash received from the customer, and any change returned to the customer. The machine also...

Q: Linus Manufacturing Company manufactures a popular line of work clothes. Linus

Linus Manufacturing Company manufactures a popular line of work clothes. Linus Manufacturing employs 125 workers and keeps their employment records on time sheets that show how many hours the employee...

Q: Byer Communications, Inc., is preparing its cash budget for the

Byer Communications, Inc., is preparing its cash budget for the year ending December 31, 2017. Byer ended 2016 with cash of $65 million and managers need to keep a cash balance of at least $68 million...

Q: Identify the internal control weakness in the following situations. State how

Identify the internal control weakness in the following situations. State how the person can hurt the company. a. Mandy Morrison works as a security guard at POST parking in Oklahoma City. Morrison ha...

Q: The following situations describe two cash payment situations and two cash receipt

The following situations describe two cash payment situations and two cash receipt situations. In each pair, one set of internal controls is better than the other. Evaluate the internal controls in ea...

Q: Sue Valentine served as executive director of Downtown Wooster, an organization

Sue Valentine served as executive director of Downtown Wooster, an organization created to revitalize Wooster, Ohio. Over the course of 14 years, Valentine embezzled $236,000. How did Valentine do it?...