Mahasiswa mampu memahami Akuntansi Kas, dan menganalisis transaksi Kas Kecil

  Cash 6542– SRI HANDAYANI, SE, MM, MAk, CPMA

  FEB103

  PERTEMUAN #12

KEMAMPUAN AKHIR YANG DIHARAPKAN

  

Mahasiswa mampu memahami

Akuntansi Kas, dan menganalisis

transaksi Kas Kecil

Chapter 7 Cash Accounting,

   21 ^st Edition Warren Reeve Fess

  © Copyright 2004 South-Western, a division

  

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Objectives

Objectives

  1. Describe the nature of cash and the

After studying this

  After studying this importance of internal control over cash.

chapter, you should

  2. Summarize basic procedures for chapter, you should achieving internal control over cash

be able to:

be able to:

receipts.

  3. Summarize basic procedures for achieving internal control over cash payments, including the use of a voucher system.

  4. Describe the nature of a bank account

  Objectives Objectives

  5. Prepare a bank reconciliation and journalize any necessary entries.

  

6. Account for small cash transactions

using a petty cash fund.

  7. Summarize how cash is presented on the balance sheet.

  8. Compute and interpret the ratio of cash to current liabilities.

  Control Over Cash

   Many companies need several cash accounts to account for different cash categories and funds.

   Most companies have multiple bank accounts. The title for each bank account should be: Cash in Bank—(Name of Bank)

   Preventive controls protect cash from theft and misuse of cash.

  

Detective controls are designed to detect theft

or misuse of cash and are also preventive in nature.

  Retailers’ Sources of Cash Retailers’ Sources of Cash Register Cash records Receipts

  CASHIER’S ACCOUNTIN DEPARTMEN

  GDEPARTME T NT

  Remittance

  1 ACCOUNTIN

  GDEPARTME NT

  Deposit ticket

  CASHIER’S DEPARTMEN T

  Deposit receipt Retailers’ Sources of Cash Retailers’ Sources of Cash Controlling Cash Received Controlling Cash Received from Cash Sales from Cash Sales

19 Cash

  3 142 00 Cash Short and Over 8 00 Sales 3 150 00

  To record cash sales and actual cash on hand.

  Cash sales for March 19 totaled $3,150.00 per Cash sales for March 19 totaled $3,150.00 per the cash register tape. After removing the the cash register tape. After removing the change fund, only $3,142.00 was on hand. Controlling Cash Received in the Mail Controlling Cash Received in the Mail

  Most companies’ invoices are designed so that customers return a portion of the invoice, call a remittance advice.

  Most companies’ invoices are designed so that customers return a portion of the invoice, call a

  remittance advice.

  

Controlling Cash Received

Controlling Cash Received

in the Mail

in the Mail

  1. The employee who opens the mail should initially compare the amount received with the amount on the remittance advice.

  2. The employee opening the mail stamps checks and money orders “For Deposit Only” in the bank account of the business.

  3. All cash is sent to the Cashier’s Department where checks and money orders are combined with receipts

from cash sales and a bank deposit ticket is prepared.

  

Controlling Cash Received

Controlling Cash Received

in the Mail

in the Mail

  4. The remittance advices and their summary totals are delivered to the Accounting Department where a clerk prepares the records of the transactions and posts them to the customer account.

  5. The stamped duplicate copy of the deposit ticket is

returned to the Accounting Department where a clerk

compares the receipt with the total amount that should have been deposited.

  Internal Control of Cash Payments

  1. Cash controls must provide assurance that payments are made for only authorized transactions.

  

2. Cash controls should ensure that cash is used

efficiently .

  3. A voucher system provides assurance that what is being paid for was properly ordered, received , and billed by the supplier.

  A voucher system is a set of procedures for authorizing and recording liabilities and cash payments. A voucher system is a set of procedures for authorizing and recording liabilities and cash payments.

  Basic Features of the Voucher System

  13

  

Basic Features of the Voucher

Basic Features of the Voucher

  

System

System

A voucher system normally uses vouchers.

   The system normally has a fle for unpaid

   vouchers and a fle for paid vouchers. Usually prepared by the Accounting

  

Department after all necessary supporting

documents are received (purchase order, supplier’s invoice, and a receiving report). In preparing the voucher, the accounts

   payable clerk verifes the quantity, price, and mathematical accuracy of the supporting documents and fles the paid voucher.

  

A summary received from

the bank of all account

transaction is called a

statement of account.

  A summary received from the bank of all account transaction is called a statement of account.

  

A bank reconciliation is a listing

of the items and amounts that

cause the cash balance reported

in the bank statement to differ

from the balance of the cash

account in the ledger.

  A bank reconciliation is a listing of the items and amounts that cause the cash balance reported in the bank statement to differ from the balance of the cash account in the ledger.

  

Reasons for Differences Between Depositor’s

Records and the Bank Statement

Reasons for Differences Between Depositor’s

Records and the Bank Statement

   Outstanding checks

   Deposits in transit

   Service charges

   Collections

   Not-sufcient-funds (NSF) checks

   Errors

   Outstanding checks

   Deposits in transit

   Service charges

   Collections

   Not-sufcient-funds (NSF) checks

   Errors

  Steps in a Bank Reconciliation Steps in a Bank Reconciliation

  1. Compare each deposit listed on the bank statement

Add deposits not recorded by the bank to the

  

Add deposits not recorded by the bank to the

with unrecorded deposits appearing on the preceding balance according to the bank statement.

balance according to the bank statement.

period’s reconciliation and with deposit receipts.

  2. Compare paid checks with outstanding checks

Deduct checks outstanding that have been paid

  

Deduct checks outstanding that have been paid

appearing on the preceding period’s reconciliation and

by the bank from the balance according to the

by the bank from the balance according to the

with recorded checks. bank statement.

bank statement.

3. Compare bank credit memorandums to entries in the

  

Add credit memorandums that have not been

Add credit memorandums that have not been

journal.

recorded to the balance according to the

recorded to the balance according to the

depositor’s records.

depositor’s records.

  

Steps in a Bank Reconciliation

Steps in a Bank Reconciliation

4. Compare bank debit memorandums to entries

  

Deduct debit memorandums that have not been

Deduct debit memorandums that have not been recording cash payments.

recorded from the balance according to the

recorded from the balance according to the

5. List any errors discovered during the preceding steps.

depositor’s records.

depositor’s records.

  BANK Bank’s books Beginning balance $3,359.78 Depositor’s records Beginning balance $2,549.99

  Power Network prepares to reconcile the Power Network prepares to reconcile the monthly bank statement as of July 31, 2006

  A deposit of $816.20 did not A deposit of $816.20 did not

  BANK Bank’s books

  Beginning balance $3,359.78

  Add deposit not recorded by bank 816.20 $4,175.9

  records

  Beginning balance $2,549.99

8 Depositor’s

  BANK Depositor’s Bank’s records books

  Beginning balance $3,359.78 Beginning balance $2,549.99 Add deposit not

  Add note and interest

  recorded by bank 816.20

   collected by bank $4,175.9

  408.00 $2,957.9

  8

  9 The bank collected a note in the

  The bank collected a note in the amount of $400 and the related amount of $400 and the related

  A deposit of $637.02 did not appear A deposit of $637.02 did not appear

on the bank statement.

  Three checks that were written during the Three checks that were written during the

  BANK Bank’s books

  Beginning balance $3,359.78 Add deposit not recorded by bank 816.20

  Deduct outstanding checks: No. 812 $1,061.00 No. 878 435.39 No. 883 48.60 1,544.99 $4,175.9

  records

  Beginning balance $2,549.99 Add note and interest collected by bank 408.00

  $2,957.9

  9

8 Depositor’s

  BANK Bank’s books

  Deduct outstanding checks: No. 812 $1,061.00 No. 878 435.39 No. 883 48.60 1,544.99

  Depositor’s records Deduct check returned because of insufcient funds $300.00

  Beginning balance $3,359.78 Add deposit not recorded by bank 816.20

  $4,175.9

  Add note and interest collected by bank 408.00

  $2,957.9

8 Beginning balance $2,549.99

  9 The bank returned an NSF check from one of the firm’s customers, Thomas Ivey, in the amount of The bank returned an NSF check from one of the firm’s customers, Thomas Ivey, in the amount of Deduct outstanding checks: No. 812 $1,061.00 No. 878 435.39 No. 883 48.60 1,544.99

  Deduct check return because of insufcient funds $300.00

  Bank service charges

  18.00 BANK Bank’s books

  Beginning balance $3,359.78 Add deposit not recorded by bank 816.20

  $4,175.9

  records

  Beginning balance $2,549.99 Add note and interest collected by bank 408.00

  $2,957.9

8 Depositor’s

  9 The bank service charges totaled $18.00.

  The bank service charges totaled $18.00.

  BANK Bank’s books

  Depositor’s records

  Beginning balance $3,359.78 Add deposit not recorded by bank 816.20 Deduct outstanding checks:

  No. 812 $1,061.00 No. 878 435.39 No. 883 48.60 1,544.99

  $4,175.9

  Add note and interest collected by bank 408.00 Deduct check return because of insufcient funds $300.00

  Bank service charges18.00

  $2,957.9

8 Beginning balance $2,549.99

  9 Error recording Check No. 879 9.00

  327.00

  BANK Bank’s books

  Beginning balance $3,359.78 Add deposit not recorded by bank 816.20 Deduct outstanding checks:

  No. 812 $1,061.00 No. 878 435.39 No. 883 48.60 1,544.99

  $4,175.9

  Depositor’s records

  Beginning balance $2,549.99 Add note and interest collected by bank 408.00 Deduct check return because of insufcient funds $300.00

  Bank service charges18.00

  $2,957.9

8 Adjusted balance $2,630.99

  9 Adjusted balance $2,630.99

  Error recording Check No. 879 9.00 327 Now, if desired, we can prepare a formal statement for Power Networking. Now, if desired, we can prepare a formal statement for Power Networking.

  Power Networking Bank Reconciliation July 31, 2006

  Balance per bank statement $3,359.78 Add: Deposit not recorded by bank 816.20 $4,175.98 Deduct: Outstanding checks No. 812 $1,061.00 No. 878 435.39 No. 883 48.60 1,544.99 Adjusted balance $2,630.99 Balance per depositor’s records $2,549.99 Add: Note and interest collected by bank 408.00 $2,957.99 Deduct: NSF check (Thomas Ivey) returned $300.00 Bank service charges 18.00 Error in recording Check No. 879

   9.00 327.00 Journal entries must be prepared Journal entries must be prepared for those items that affected the for those items that affected the depositor’s side of the depositor’s side of the reconciliation. reconciliation.

  Balance per bank statement $3,359.78 Add: Deposit not recorded by bank 816.20 $4,175.98 Deduct: Outstanding checks No. 812 $1,061.00 No. 878

  435.39 No. 883 48.60 1,544.99 Adjusted balance

  $2,630.99 Balance per depositor’s records $2,549.99 Add: Note and interest collected by bank 408.00 $2,957.99 Deduct: NSF check (Thomas Ivey) returned $300.00 Bank service charges

  18.00 Error in recording Check No. 879 9.00 327.00 Adjusted balance $2,630.99

  

Power Networking

Bank Reconciliation

July 31, 2006 July 31 Cash 408 00 Note collected by bank.

  Notes Receivable 400 00 Interest Receivable

  8 00

Entries Related to a Bank Reconciliation

  Entries Related to a Bank Reconciliation

  Balance per bank statement $3,359.78 Add: Deposit not recorded by bank 816.20 $4,175.98 Deduct: Outstanding checks No. 812 $1,061.00 No. 878

  435.39 No. 883 48.60 1,544.99 Adjusted balance

  $2,630.99 Balance per depositor’s records $2,549.99 Add: Note and interest collected by bank 408.00 $2,957.99 Deduct: NSF check (Thomas Ivey) returned $300.00 Bank service charges

  18.00 Error in recording Check No. 879 9.00 327.00 Adjusted balance $2,630.99

  

Power Networking

Bank Reconciliation

July 31, 2006

  

Entries Related to a Bank Reconciliation

Entries Related to a Bank Reconciliation

  July 31 Cash 408 00 Note collected by bank.

  Notes Receivable 400 00 Interest Receivable

  8 00

  30 Accounts Receivable—Thomas Ivey 300 00 Miscellaneous Administrative Exp. 18 00 Accounts Payable—Taylor Co. 9 00 Cash

  327 00 NSF check, bank service charges, and error in

  

Petty Cash Aug. 1 Petty Cash 100 00 Established petty cash fund.

  Cash 100 00

  On August 1, issued Check No. 511 for $100 to established a petty cash fund.

  On August 1, issued Check No. 511 for $100 to established a petty cash fund. At the end of August, the petty cash receipts

  At the end of August, the petty cash receipts

  indicated expenditures for the following items:

  indicated expenditures for the following items:

  office supplies, $28, postage (office supplies),

  office supplies, $28, postage (office supplies),

  $22; store supplies, $35, and miscellaneous

  $22; store supplies, $35, and miscellaneous administrative items, $3. administrative items, $3.

  Aug. 31 Office Supplies 50 00 Store Supplies

  35 00 Miscellaneous Administrative Exp. 3 00 Cash

  88 00 Replenished petty cash fund.

  Financial Analysis and Interpretation Solvency is the ability of a business to meet its financial obligations (debts) as they are due.

  Solvency analysis focuses on the ability of a business to pay or otherwise satisfy its current and noncurrent liabilities .

  This ability is normally assessed by examining balance sheet relationships. B. Current liabilities 400,000 1,500,000 Doomsday ratio A / B

  0.25

  0.08 Doomsday Ratio Doomsday Ratio Laettner Co. Oakley Co. How are these ratios used? How are these ratios used?

  Use: To indicate the company’s ability to meet creditors obligations in the worst case assumption that should Use: To indicate the company’s ability to meet creditors obligations in the worst case assumption that should

  Financial Analysis and Interpretation

A. Cash and equivalents $100,000 $ 120,000

  The End The End