Accountingforcashch5现金的核算课件

Chapter Chapter 5 5 Accounting for CashAccounting for Cash Module 5AMoule5B Accounting for Cash Banking Procedures Module5A Accounting for CashObjectivesl Understand accounting for cash receipts and cash payments.l Setting up a change fund,and using a petty cash fund.Definition of Cash l Cash includes currency(dollar bills)and coins,cash items on hand,and cash on deposit in one or more bank accounts.l Cash items on hand includes checks,drafts,credit card receipts,and money orders that have not yet been deposited in the bank.Internal Control of Internal Control of CashCashlInternal control involves the methods designed to safeguard assets.lAn internal control policy relating to cash requires that all cash and cash items be deposited daily in bank.A separation of duties A separation of duties involving the handling of cashinvolving the handling of cashA mail clerkCashierA accounting clerkOpens customer remittances and prepares a list of the checks for deposit.Prepares a daily deposit slip and makes the deposit.Makes the appropriate entries to record the receipt.Cash ReceiptsCash Receiptsl Cash and cash items received by a business are known as cash receipts.l A cash register is a useful device to record receipts of currency and coins.Retailers Receipts of CashCash ReceiptsCASHIERS DEPARTMENTACCOUNTINGDEPARTMENTRegister recordsMail Receipts Remittance advices Mail Receipts1ACCOUNTINGDEPARTMENTDeposit ticketBankCASHIERS DEPARTMENTDeposit receiptRetailers Receipts of CashCash ReceiptsCash ReceiptsReceipts of credit sales Page141 Most companies invoices are designed so that customers return a portion of the invoice,call a remittance advice.lThe initial record of cash received should be prepared by someone other than the accountant.lThe accountant uses the initial records in preparing journal entries for cash receipts.Received$172 from a patient for medical Received$172 from a patient for medical service provided 15 days ago.service provided 15 days ago.Cash PaymentsCash PaymentslCash and cash items paid by a business are known as cash payments.lPayment may be made in cash or by check.When payments are made in cash,a receipt should be obtained.lWhen payments are made by check,the canceled check(or check stubs)serves source document.lThe bank account sometimes is called Cash in bank.l If a business has several cash accounts,cash can be transferred between banks.Cash Short and OverCash Short and Overl Cash short and over is a difference between the cash count and the daily deposit.l Most businesses have a special ledger account entitled Cash Short and Over.lAny shortages or overages are recognized in the journal entry.Example:The cash register tape on march 15 indicates cash sales for the day are$2450.00.The cash count indicates$2447.00.Cash Short and OverExample:The cash register tape on march 16 indicates cash sales for the day are$1983.00.The cash count indicates$1992.00.At the end of the accounting period,the debit balance of this account is included with Miscellaneous Expense on the income statement.A credit balance is included with Miscellaneous Revenue on the income statement.Change Fund Change Fund l A change fund is classified as an assets and appears in the balance sheet as a current assets.l The journal entry to establish a change fund is as follows:June1 Dr.Change Fund 200 Cr.Cash 200l Always deduct the amount in the change fund from cash before making the cash deposit.Petty Cash Fundl Such a fund eliminates the necessity of writing business checks for small dollar amounts.l To establish a petty cash fund,a check is written to Petty Cash for the desired amount.Example:May1 Dr.Petty Cash 400 Cr.Cash 400lPetty cash is an asset that can be listed below Cash on the balance sheet.Creating a Petty Cash FundPetty CashCompanyCompanyCashierCashierPetty Petty CashierCashierAccountantAccountant39Stamps$45Courier$80Operating a Petty Cash FundPetty Petty CashierCashierA petty cash fund is used only for business expenses.Petty Cash FundlTo maintain good internal control,one individual should be assigned responsibility for petty cash fund.lA petty cash voucher is filled out each time the fund is used.Page146 Exhibit 5.3Petty Cash Payments Petty Cash Payments recordrecordlA special multi column form,known as a petty cash payments record,is used.lIts primary use is to provide the needed information to journalize the replenishment of the petty cash fund.lPage 148 Exhibit 5.4Petty CashReplenishing the Petty Cash FundPetty Petty CashierCashierReplenishing the Petty Cash FundReplenishing the Petty Cash Fundl The petty cash fund should be replenished whenever the fund runs low.Example:Jan.31 Dr.Automobile expense 40 Charitable Contributions Expense30 Cr.Cash 70Note:Dont debit or credit Petty Cash unless the fund is to be increased or decreased.Module5B Banking ProceduresObjectivel Understand banking procedures relating to a checking account.l Reconcile a bank statement.l Journalize entries from the bank reconciliation.Checking Accountl Opening a Checking AccountTo open a checking account,proper approval is needed from the bank,along with an initial cash deposit.A signature card must be completed and signed by each person authorized to sign checks.Page 157 Exhibit 5.5l Making Deposits A deposit ticket is a form used by the bank.It summarizes the count of coins,currency and checks being deposited.See Exhibit 5.6 Checking Accountl Endorsements1.Blank endorsement2.The depositor simply signs his or her name on the back of the check.The check is payable to any bearer.3.2.Restrictive endorsement The depositor adds words such as”For deposit only”.Checking Accountl Deposits by Mail and Night Deposits Deposits by mail should consist only of checks.A night deposit involves putting the deposit in a secured bag and placing the bag in a designated slot at the bank.A bank employee will later verify the deposit and return the receipt with the bag.l Automated Teller Machinel Electronic Funds Transfers Checking Accountl Writing Check A check is a document that orders a bank to pay cash from a depositors account.1.Drawer2.Drawee3.Payee See page 160 Exhibit 5.9 Checking AccountThere are two records of a businesss cash:1.The Cash account in the companys general ledger.Date Item Debit Credit Balance2019Jan.1 2 3 BalanceCash receiptCash payment 3,000 2,000 5,000 8,000 6,000Account Cash Checking Account2.The bank statement,which shows the cash receipts and payments transacted through the bank.See Exhibit 5.10 on page 162The books and the bank statement usually show different amounts.Differences arise because of a time lag in recording transactions.Checking AccountBank StatementOnce a month,the bank mails a statement of account,called a bank statement,to each depositor.Included with the bank statement are canceled checks and any other items that increased or decreased the account balance.Bank StatementReconciling the Bank Statement.The depositor should compare the ending checkbook balance with the ending bank statement balance.The common reasons for difference are the following:1.Outstanding checks 2.Deposits in transit3.Service charges 4.Collection5.Deductions 6.Not sufficient funds checks7.Errors Preparing the Bank ReconciliationBank Reconciliation:Document explaining the reasons for the difference between a depositors cash records and the bank statement figures.(prepared by the depositor,not by the bank)Steps in Preparing the Bank Reconciliation.Step1 Identify deposits in transit and any related errors.Step2 Identify outstanding checks and any related errors.Step3 Identify additional reconciling items.Preparing the Bank ReconciliationHow to treat the various reconciling items:Bank balancealwaysAdd deposits in transit.Subtract outstanding checks.Add or subtract corrections of bank errors.Book balance alwaysAdd bank collections,interest revenue,and EFT receipts.Subtract service charges,NSF checks,and EFT payments.Add or subtract corrections of book errorsFormat of a Bank Reconciliation Adjusted cash balance per bank$12,204.85 Adjusted cash balance per book$12,204.85 Journal Entries from Bank ReconciliationAll additions and deductions to the book balance must be journalized and posted to the Cash account.Thank you拯畏怖汾关炉烹霉躲渠早膘岸缅兰辆坐蔬光膊列板哮瞥疹傻俘源拯割宜跟三叉神经痛-治疗三叉神经痛-治疗