Putnam Sound, Inc. (PSI) is a manufacturer of stereo speaker systems. The company prepares special journals and subsidiary ledgers for its revenue,…

Putnam Sound, Inc. (PSI) is a manufacturer of stereo speaker systems. The company prepares special journals and subsidiary ledgers for its revenue, expenditures, payroll, and conversion processes. For administrative processes, however, journal vouchers are created for the related general ledger entries. Steve Jamison is the accounting clerk who has responsibility for preparing journal vouchers.

Journal vouchers are prepared on preprinted forms; however, these forms are not prenumbered. Steve records a sequential journal voucher number on each form that is prepared. This procedure is in place because of the large number of journal vouchers that are typically voided each period at PSI. Because of the nonrouting nature of the underlying processes, it is not unusual for a journal entry to be revised once or twice before it is actu‐ ally recorded.

Journal vouchers are posted to the general ledger on a biweekly basis. Once a journal voucher has been posted, Steve records it in a voucher log. This log is simply a chronological listing of all journal vouchers written that allows Steve to account for the numerical sequence of vouchers.

On a bimonthly basis, Steve reconciles the subsidiary accounts to their control accounts in the general ledger and verifies that the general ledger is in balance.

Describe the internal control strengths and weak‐ nesses of PSI’s general ledger accounting processes. For any weaknesses, suggest an improvement.

Show more

Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more