Chapter 6 The Expenditure Cycle Part Ii Payroll

Chapter 6 The Expenditure Cycle Part Ii Payroll Processing And Fixed 2. journal information, which comes from the labor distribution summary and the payroll register. 3. subsidiary ledger accounts, which contain the employee records and various expense accounts. 4. the general ledger accounts: payroll control, cash, and the payroll clearing (imprest) account. 288 chapter 6 the expenditure cycle part ii: payroll processing and fixed asset procedures. figure 6 2 personnel action form. salary increase recommendation based on the attached appraisal form, the following recommendation is made for: name: position: social security number: current salary: current bonus level: last increase date: next.

Chapter 6 Payroll Processing And Fixed Asset Procedures Pdf Chapter 6 1. receives the voucher packet the cash disbursement voucher & the payroll register 2. prepares a single check for the entire amount of payroll 3. deposits the check into the payroll imprest account 4. sends voucher packet and copy of the check to ap department 5. prepares a journal voucher 6. sends journal voucher to the update general ledger. Chapter 6—the expenditure cycle part ii: payroll processing and fixed asset procedures true false. time cards are used by cost accounting to allocate direct labor charges to work in process. ans: f. the personnel department authorizes changes in employee pay rates. ans: t. most payroll systems for mid size firms use real time data processing. Chapter 6 the expenditure cycle – part ii as mentioned in the prior chapter, the expenditure cycle is concerned with the acquisition of fixed assets, raw materials or manufactured components, and the use of employee labor to yield a finished product. this chapter examines the payroll subsystem and the fixed asset subsystem. Objectives for chapter 6 fundamental tasks of payroll and fixed asset processes functional depts. of payroll and fixed asset activities and the flow of transactions through the organization documents, journals, and accounts needed for audit trails, record maintenance, decision making, and financial reporting exposures associated with payroll and fixed asset activities and the controls that.