Supervisors counting cash receipts daily is an example of
Question 12
Blank checks
Question 13
All of the following are true regarding bank statements except
Question 14
Which of the following would be added to the balance per bank on a bank reconciliation?
Question 15
Notification by the bank that a deposited customer check was returned NSF requires that
the company make the following adjusting entry:
Question 16
Clark Company developed the following reconciling information in preparing its
September bank reconciliation:
Cash balance per bank, 9/30
$30,800
Note receivable collected by bank
16,800
Outstanding checks
25,200
Deposits in transit
12,600
Bank service charge
210
NSF check
3,360
Using the above information, determine the cash balance per books (before adjustments)
for the Clark Company.
Question 17
Of the following employees, who should prepare the bank reconciliation?
Question 18
In the month of May, Lopat Company Inc. wrote checks in the amount of $55,500. In June,
checks in the amount of $75,948 were written. In May, $50,808 of these checks were
presented to the bank for payment, and $65,298 in June. What is the amount of
outstanding checks at the end of May?
Question 19
All of the following are true regarding the management and monitoring of cash except
Question 20
Match the items below by entering the appropriate code letter in the space
provided.propriate code letter in the space provided.
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ACC 556 Chapter 8 Quiz (100% Score)