question_3714.docx
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Question 9 of 20
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5.0 Points
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Vanessa's Gymnastics' cash register tapes do not agree with cash receipts. The facts are: total cash register tapes $400; total coins and currency $404. The summary journal entry to record the day's transactions would include a:
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A. $404 debit to Cash; $4 credit to Cash Short/Over; and $400 credit to Sales.
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B. $404 debit to Cash and $404 credit to Sales.
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C. $400 debit to Cash and $400 credit to Sales.
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D. $400 debit to Cash; $4 debit to Cash Short/Over; and $404 credit to Sales.
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Question 12 of 20
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5.0 Points
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A payment for $31 is incorrectly recorded on the checkbook stub as $13. The $18 error should be shown on the bank reconciliation as:
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A. deducted from the balance per bank statement.
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B. deducted from the balance per books.
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C. added to the balance per books.
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D. added to the balance per bank statement.
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Question 14 of 20
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5.0 Points
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Calculate, from the following information accumulated by Sandra Johnson, the adjusted cash balance at the end of April.
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Bank statement ending cash balance
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$2,000
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General ledger cash balance ending
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3,250
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Bank monthly service charge
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45
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Deposits in transit
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2,500
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Outstanding checks
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1,500
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NSF check returned with bank statement
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205
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A. $4,000
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B. $4,250
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C. $5,500
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D. $3,000
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Question 16 of 20
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5.0 Points
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The credit recorded in the journal to replenish the petty cash fund is to:
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A. Accounts Receivable.
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B. Cash.
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C. Accounts Payable.
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D. Petty Cash.
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Question 17 of 20
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5.0 Points
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A petty cash fund is set up:
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A. for the owner to withdraw money for personal use conveniently.
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B. to pay for small expenses.
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C. to pay for large expenses.
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D. None of these answers are correct.
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A $50 petty cash fund has cash of $20 and valid receipts for $40. The entry to replenish the fund would include a:
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A. credit to Petty Cash for $30.
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B. credit to Cash for $30.
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C. credit to Cash for $40.
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D. debit to Petty Cash for $40.
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How would outstanding checks be handled when reconciling the ending cash balance per the bank statement to the correct adjusted cash balance?
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A. They would be ignored.
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B. They would be added to the balance per books.
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C. They would be added to the balance of the bank statement.
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D. They would be subtracted from the balance of the bank statement.
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naraez
