7137807
Descripción
Test por Kathleen Keller, actualizado hace más de 1 año
|
|
Creado por Kathleen Keller
hace más de 7 años
|
|
Pregunta 1
Pregunta
Assuming that the bank statement balance is correct, what is the correct Cash account balance on October 31?
Respuesta
-
$4,350.00
-
$4,500.00
-
$4,525.00
-
$4,550.00
Pregunta 2
Pregunta
On February 14, Watauga Enterprises received notice from the bank of a dishonored check from Wilkes Company
in the amount of $200.00. The bank charged a service fee of $25.00. What is the correct journal entry for Watauga
Enterprises to record the dishonored check?
Respuesta
-
Debit Accounts Receivable-Wilkes Company $200.00, debit Bank Service Charge $25.00; credit Cash $225.00
-
Debit Accounts Receivable-Wilkes Company $225.00; credit Bank Service Charge $25.00, credit Cash $200.00
-
Debit Accounts Receivable-Wilkes Company $225.00; credit Cash $225.00
-
Debit Cash $225.00; credit Accounts Receivable-Wilkes Company $225.00
Pregunta 3
Pregunta
Assuming that the bank statement balance is correct, what is the correct Cash account balance on March 31?
Respuesta
-
$2,325.00
-
$2,345.00
-
$2,360.00
-
$2,580.00
Pregunta 4
Pregunta
On December 23, Wake Incorporated received notice from the bank of a dishonored check from Davie Company in
the amount of $125.00. The bank charged a service fee of $25.00. What is the correct journal entry for Wake
Incorporated to record the dishonored check?
Respuesta
-
Debit Accounts Receivable-Davie Company $125.00, Debit Bank Service Charge $25.00, Credit Cash $150.00
-
Debit Accounts Receivable-Davie Company $150.00, Credit Bank Service Charge $25.00, Credit Cash $125.00
-
Debit Accounts Receivable-Davie Company $150.00, Credit Cash $150.00
-
Debit Cash $150.00, Credit Accounts Receivable-Davie Company $150.00
Pregunta 5
Pregunta
Timothy wants to replenish the $300 petty cash fund. He has receipts for the following total payments: postage
(Office Expense), $35; supplies, $25; and repairs, $95. A cash count shows $160 in the petty cash box. What is the
correct journal entry to record the transaction?
Respuesta
-
Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25 and credit Cash $155
-
Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25, and credit cash $140, credit Cash Short and Over $15
-
Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25 and credit Petty Cash $155
-
Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25, debit Cash Short and Over $5, and credit cash $160
Pregunta 6
Pregunta
Michael wants to establish a $500 petty cash fund for his business. He has requested a check for $500. What is the
correct journal entry to record the transaction?
Respuesta
-
Debit Petty Cash $500 and credit Cash $500
-
Debit Cash $500 and credit Petty Cash $500
-
Debit Miscellaneous Expense $500 and credit Cash $500
-
Debit Petty Cash $500 and credit Miscellaneous Expense $500
Pregunta 7
Pregunta
David wants to replenish the $150 petty cash fund. He has receipts for the following total payments: supplies, $36;
and postage (Office Expense), $27. A cash count shows $87 in the petty cash box. What is the correct journal entry
to record the transaction?
Respuesta
-
Debit Cash $63 and credit Miscellaneous Expense $63
-
Debit Miscellaneous Expense $63 and credit Cash $63
-
Debit Office Expense $27, debit Supplies $36 and credit Petty Cash $63
-
Debit Office Expense $27, debit Supplies $36 and credit Cash $63
Pregunta 8
Pregunta
Mary wants to replenish the $200 petty cash fund. She has receipts for the following total payments: supplies, $25;
and repairs, $45. A cash count shows $130 in the petty cash box. What is the correct journal entry to record the
transaction?
Respuesta
-
Debit Cash $70 and credit Miscellaneous Expense $70
-
Debit Miscellaneous Expense $70 and credit Cash $70
-
Debit Repair Expense $45, debit Supplies $25 and credit Cash $70
-
Debit Repair Expense $45, debit Supplies $25 and credit Petty Cash $70
Pregunta 9
Pregunta
Michelle wants to replenish the $300 petty cash fund. She has receipts for the following total payments: postage
(Office Expense), $40; supplies, $25; and repairs, $45. A cash count shows $175 in the petty cash box. What is the
correct journal entry to record the transaction?
Respuesta
-
Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Cash $110
-
Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Petty Cash $110
-
Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and credit Cash $110, credit Cash Short and Over $15
-
Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and debit Cash Short and Over $15, and credit Cash $125
Pregunta 10
Pregunta
In the figure, calculate the adjusted checkbook balance.
Respuesta
-
$1,050.00
-
$1,230.00
-
$1,350.00
-
$1,420.00
Pregunta 11
Pregunta
In the figure, what is the journal entry to record the bank service charge?
Respuesta
-
Debit Cash $2.50, credit Miscellaneous Expense $2.50
-
Debit Cash $2.50, credit Transaction Fee $2.50
-
Debit Miscellaneous Expense $2.50, credit Cash $2.50
-
Debit Transaction Fee $2.50, credit Cash $2.50
Pregunta 12
Pregunta
In the figure, calculate the adjusted bank balance.
Respuesta
-
$1,300.00
-
$1,180.00
-
$1,050.00
-
$1,120.00
Pregunta 13
Pregunta
In the figure, assuming that the bank balance is correct, does the bank statement reconcile?
Respuesta
-
No, the adjusted checkbook balance is $130.00 lower than the adjusted bank balance.
-
No, the adjusted checkbook balance is $130.00 higher than the adjusted bank balance.
-
Yes, the adjusted checkbook balance and the adjusted bank balance agree.
-
Yes, the adjusted bank balance is $52.50 lower than the adjusted checkbook balance.
Pregunta 14
Pregunta
When you want to make sure that no one other than your company can use a check you would use this type of endorsement:
Respuesta
-
blank
-
special
-
restrictive
-
bank
¿Quieres crear tus propios Tests gratis con GoConqr? Más información.