Attached are two different templates for homework. Be sure to read through the instructions. Thanks

Attached are two different templates for homework. Be sure to read through the instructions. Thanks
HOMEWORK EXERCISE 7 TEMPLATE ACCT 5362 | Accounting Principles For this assignment, you will submit this document containing your answers to the below questions to the assignment link within Blackboard. A specific word count is not required, but each question should be answered thoroughly and in a professional manner. After reading/viewing the materials for this module/week, answer the questions below. The questions will test your knowledge of concepts from Chapter 8 from the Principles of Accounting, Vol. I  text.     Homework Exercise 7 is due by 11:59 p.m. (CT) on Sunday of Module/Week 7. Chapter 8 What is an example of rationalization as one of the three elements causing a person to commit fraud? Why is it important to have a very sound and well-developed internal control structure? What are the functions of the internal control? What is the role of the Sarbanes-Oxley Act and the Public Company Accounting Oversight Board? Is it required to have only one petty cashier or should the company appoint more than one person to administer the fund? Why? What is the purpose of the bank reconciliation? Prepare the journal entry to reconcile the bank statement below: Bank Statement Balance at (date) $6,988 Book Balance at (date) $6,626 Add: Deposits in transit Bank error 1,600 75 Add: Check #2456 posting error 90 Less: Outstanding checks 2,022 Less: Bank service charge 75 Adjusted bank balance $6,641 Adjusted book balance $6,641 Prepare a trial balance using the journal entries below: GENERAL JOURNAL Page 1 Account Post. Ref. Debit Credit A. Cash 10,000 Dodge, Capital 10,000 B. Rent Expense 500 Cash 500 C. Petty Cash 500 Cash 500 D. Cash 1,000 Services Income 1,000 E. Office Supplies 158 Cash 158 F. Computer Equipment 2,500 Cash 1,350 Accounts Payable 1,150 G. Cash 800 Services Income 800 H. Wages Expense 600 Cash 600 I. Office Supplies 256 Maintenance Expense 108 Miscellaneous Expense 55 Postage Expense 77 Cash Over and Short Cash 489 J. Petty Cash 30 Cash 30 Page 5 of 5