ACC 225
Axia College of University of Phoenix (UoP)
Financial Accounting
Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)
ACC 225 Week 8 Solution
1. CheckPoint: Internal Control and Bank Reconciliations
• Resource: Fundamental Accounting Principles, pp. 335 & 336
• Complete Exercises 7-8 & 7-11 on p. 291 and Quick Study question 8-6 on p. 335.
Exercises 7-8 (E7-8) SOLUTION
Exercises 7-11 (E7-11) SOLUTION
Quick Study Question 8-6 (QS 8-6) SOLUTION
2. Assignment: Internal Control and Bank Reconciliations
[Please be aware that since Sunday is the 4th of July Holiday this week’s assignment is due on Saturday July 3, instead of Sunday – this week only.]
• Resources: Fundamental Accounting Principles, pp. 338 & 339
• Complete Problems 8-1A & 8-4A (including the Analysis Component) on pp. 338–339. When responding to the cases in 8-1A, think critically about each case. Identify the principles of internal control that has been violated and provide an explanation of why you think that principle has been violated. Identify the consequences of the actions described in the cases. Make a recommendation for what the business should do to ensure adherence to principles of internal control.
• Use the spreadsheet in Appendix B available on the student Web site to complete Problem 8-4A. Use the tabs labeled SP08-04A and Given P08-04A
Problems 8-1A (P8-1A) SOLUTION
Problems 8-4A (P8-4A) (Appendix B) SOLUTION
