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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?