Internal Controls

What is Internal Control? Five Basic Components (Page 309) The Principles of Internal Control – Control Activities (Page 309) Why is Internal Control of Cash so critical? DISCUSSION E7-2 Discussion: the Petty Cash Fund – setting it up and replenishing the fund Video Resources Accounting 1:Program 26

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Fall Fair Celebrations – Chapter 4-5 – Wednesday October 2nd

These are questions that I am fond of: 1.) E4-3 Page 183 (Closing Entries) 2.) E5-2,3,4,5,6 (Journal Entries for a merchandising business using the perpetual system) 3.) E5-11 (Gross Profit Margin, Profit Margin) 4.) E4-10 (Focus on: Working Capital, Current Ratio, Acid Test Ratio, Gross Profit Margin, Profit Margin) Test Format: Multiple Choice 4 Accounting Problems

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