Accounting Information Systems 7th Edition by Cynthia Heagy,Constance Lehmann

تمرين 1

The following accounts and balances appear on the records of Fiberboard Processing, Inc:

Both the petty cash and payroll cash accounts are operated as imprest accounts. That is, their balances never change because all payments from them are reimbursed from the general checking account.
Required:
a. Characterize the nature of each account above as normal, master, or sub-account.
b. Calculate the total cash balance.
c. If the company printed a summary balance sheet, what accounts and amounts would appear on the statement?
d. Prepare a direct method cash flow statement.