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8) A company records an unrealized loss on short-term securities. This
might result in what type of difference and in what type of deferred
income tax?
9) A company uses the equity method to account for an investment. This
would result in what type of difference and in what type of deferred
income tax?
10) Nottingham Corporation had accounts receivable of $100,000 on
January 1st The only transactions affecting accounts receivable were
sales of $900,000 and cash collections of $850,000. What is the accounts
receivable turnover?
11) If a petty cash fund is established in the amount of $250, and
contains $150 in cash and $95 in receipts for disbursements when it is
replenished, the journal entry to record replenishment should include
credits to which of the following accounts?
12) If the month-end bank statement shows a balance of $36,000,
outstanding checks are $12,000, a deposit of $4,000 was in transit at
month end, and a check for $500 was erroneously charged by the bank
against the account, what is the correct balance in the bank account at
month end?
13) If a short-term obligation is excluded from current liabilities because
of refinancing, the footnote to the financial statements describing this
event should include all of the following information EXCEPT:
14) Stock dividends distributable should be classified on the