3A Accounting

References:

• text, chapter 10, pages 373 - 404

Practice:

• Practice Test

• Practice Test Answer Key

Requirements:

In order to successfully complete the 3A Accounting test on cash control and banking applications, the student should be prepared to perform the following cognitive tasks:

• understand how to account for credit card and debit card sales;

• understand the need for a Petty Cash Book;

• prepare the necessary journal entries to set up a petty cash book.

• prepare a typical petty cash voucher;

• record purchases within a Petty Cash Book;

• prepare the entries within the general journal and the petty cash book required in order to replenish the petty cash

• interpret a bank statement;

• complete a Bank Reconciliation Statement;

• after completing a Bank Reconciliation Statement, complete the adjustments (within a General Journal) that are required to update the Cash account;

• complete a Statement of Cash Flows;

• prepare the general journal entries required to account for cash shortages, and cash overages.