At April 30, Mendoza Company has the following bank information: \[\begin{array} { l r } \text { Cash balance per bank } & \$ 3,600 \\ \text { Outstanding checks } & \$ 280 \\ \text { Deposits in transit } & \$ 550 \\ \text { Credit memo for interest } & \$ 10 \\ \text { Bank service charge } & \$ 20 \end{array}\] What is Mendoza's adjusted cash balance on April 30?

A) $3,860. B) $3,880. C) $3,330. D) $3,870. A) $3,860. B) $3,880. C) $3,330. D) $3,870.

The following information was taken from Hobson Company cash budget for the month of June $\begin{array}{lr} \text { Beginning cash balance } & \$ 180,000 \\ \text { Cash receipts } & 174,000 \\ \text { Cash disbursements } & 204,000 \end{array}$ If the company has a policy of maintaining an end-of-the-month cash balance of $150,000, the amount the company would have to borrow is

A) $66,000. B) $30,000. C) $0 D) $90,000. A) $66,000. B) $30,000. C) $0 D) $90,000.

A) should be safeguarded. B) should be pre-signed. C) do not need to be safeguarded since they must be signed to be valid. D) should not be pre-numbered. A) should be safeguarded. B) should be pre-signed. C) do not need to be safeguarded since they must be signed to be valid. D) should not be pre-numbered.

A) occur because of time lags. B) must be corrected by debits. C) are infrequent in occurrence. D) are corrected by making an adjusting entry on the depositor's books. A) occur because of time lags. B) must be corrected by debits. C) are infrequent in occurrence. D) are corrected by making an adjusting entry on the depositor's books.

Dobler Company gathered the following reconciling information in preparing its June bank reconciliation: $\begin{array}{lr} \text { Cash balance per books, } 6 / 30 & \$ 12,600 \\ \text { Deposits in transit } & 900 \\ \text { Notes receivable and interest collected by bank } & 2,220 \\ \text { Bank charge for check printing } & 75 \\ \text { Outstanding checks } & 4,500 \\ \text { NSF check } & 420 \end{array}$ The adjusted cash balance per books on June 30 is

A) $15,225. B) $14,820. C) $14,325. D) $15,165. A) $15,225. B) $14,820. C) $14,325. D) $15,165.

Higgins Company gathered the following reconciling information in preparing its October bank reconciliation: $\begin{array}{lr} \text { Cash balance per books, } 10 / 31 & \$ 16,800 \\ \text { Deposits in transit } & 600 \\ \text { Notes receivable and interest collected by bank } & 3,400 \\ \text { Bank charge for check printing } & 80 \\ \text { Outstanding checks } & 8,000 \\ \text { NSF check } & 680 \end{array}$ The adjusted cash balance per books on October 31 is

A) $18,840. B) $16,040. C) $11,440. D) $19,440. A) $18,840. B) $16,040. C) $11,440. D) $19,440.

Exam 6: Fraud, Internal Control, and Cash

At April 30, Mendoza Company has the following bank information: Cash balance per bank \ 3,600 Outstanding checks \ 280 Deposits in transit \ 550 Credit memo for interest \ 10 Bank service charge \ 20 What is Mendoza's adjusted cash balance on April 30?

(Multiple Choice)

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Question 141

An employee authorized to sign checks should not record

(Multiple Choice)

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Question 142

The following information was taken from Hobson Company cash budget for the month of June Beginning cash balance \ 180,000 Cash receipts 174,000 Cash disbursements 204,000 If the company has a policy of maintaining an end-of-the-month cash balance of $150,000, the amount the company would have to borrow is

(Multiple Choice)

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Question 143

Blank checks

(Multiple Choice)

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Question 144

If a monthly cash budget is prepared properly, there will never be a cash deficiency at the end of any month.

(True/False)

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Question 145

Which of the following would not be subtracted from the balance per books on a bank reconciliation?

(Multiple Choice)

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Question 146

Which one of the following items would not be considered cash?

(Multiple Choice)

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Question 147

Which one of the following would not cause a bank to debit a depositor's account?

(Multiple Choice)

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Question 148

A $100 petty cash fund has cash of $16 and receipts of $86. The journal entry to replenish the account would include

(Multiple Choice)

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Question 149

Bank errors

(Multiple Choice)

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Question 150

A petty cash fund should be replenished

(Multiple Choice)

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Question 151

A $150 petty cash fund has cash of $21 and receipts of $126. The journal entry to replenish the account would include a

(Multiple Choice)

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Question 152

For which of the following errors should the appropriate amount be added to the balance per bank on a bank reconciliation?

(Multiple Choice)

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Question 153

Dobler Company gathered the following reconciling information in preparing its June bank reconciliation: Cash balance per books, 6/30 \ 12,600 Deposits in transit 900 Notes receivable and interest collected by bank 2,220 Bank charge for check printing 75 Outstanding checks 4,500 NSF check 420 The adjusted cash balance per books on June 30 is

(Multiple Choice)

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(39)

Question 154

Higgins Company gathered the following reconciling information in preparing its October bank reconciliation: Cash balance per books, 10/31 \ 16,800 Deposits in transit 600 Notes receivable and interest collected by bank 3,400 Bank charge for check printing 80 Outstanding checks 8,000 NSF check 680 The adjusted cash balance per books on October 31 is

(Multiple Choice)

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Question 155

A cash budget contributes to more effective cash management.

(True/False)

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Question 156

Electronic funds transfer (EFT) is a disbursement system that transfers cash from one location to another using

(Multiple Choice)

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Question 157

A debit balance in Cash Over and Short is reported as a

(Multiple Choice)

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Question 158

Which of the following is not included in the cash disbursements section of a cash budget?

(Multiple Choice)

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Question 159

Which one of the following items would never appear on a cash budget?

(Multiple Choice)

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Question 160

At April 30, Mendoza Company has the following bank information: Cash balance per bank \ 3,600 Outstanding checks \ 280 Deposits in transit \ 550 Credit memo for interest \ 10 Bank service charge \ 20 What is Mendoza's adjusted cash balance on April 30?

An employee authorized to sign checks should not record

Blank checks

If a monthly cash budget is prepared properly, there will never be a cash deficiency at the end of any month.

Which of the following would not be subtracted from the balance per books on a bank reconciliation?

Which one of the following items would not be considered cash?

Which one of the following would not cause a bank to debit a depositor's account?

A $100 petty cash fund has cash of $16 and receipts of $86. The journal entry to replenish the account would include

Bank errors

A petty cash fund should be replenished

A $150 petty cash fund has cash of $21 and receipts of $126. The journal entry to replenish the account would include a

For which of the following errors should the appropriate amount be added to the balance per bank on a bank reconciliation?

A cash budget contributes to more effective cash management.

Electronic funds transfer (EFT) is a disbursement system that transfers cash from one location to another using

A debit balance in Cash Over and Short is reported as a

Which of the following is not included in the cash disbursements section of a cash budget?

Which one of the following items would never appear on a cash budget?

Introduction to Financial Statements

A Further Look at Financial Statements

The Accounting Information System

Merchandising Operations and the Multiple-Step Income Statement

Reporting and Analyzing Inventory

Reporting and Analyzing Receivables

Reporting and Analyzing Long-Lived Assets

Reporting and Analyzing Liabilities

Reporting and Analyzing Stockholders Equity

Statement of Cash Flows

Financial Analysis: The Big Picture

Managerial Accounting

Job Order Costing

Process Costing

Activity-Based Costing

Cost-Volume-Profit

Cost-Volume-Profit Analysis: Additional Issues

Incremental Analysis

Budgetary Planning

Budgetary Control and Responsibility Accounting

Standard Costs and Balanced Scorecard

Planning for Capital Investments

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