Question 1

Gabana Inc.'s €100 petty cash fund has cash of €6 and receipts of €91. The journal entry to replenish the account would include

Accepted Answer

A)  credit to Cash Over and Short for €3. 
B)  credit to Petty Cash for €94. 
C)  debit to Cash for €91. 
D)  credit to Cash for €94. 
A)  credit to Cash Over and Short for €3. 
B)  credit to Petty Cash for €94. 
C)  debit to Cash for €91. 
D)  credit to Cash for €94.

Question 2

Bellingham Company's ₤150 petty cash fund has cash of ₤28 and receipts of ₤120. The journal entry to replenish the account would include a

Accepted Answer

A)  debit to Cash for ₤150. 
B)  debit to Cash Over and Short for ₤2. 
C)  credit to Petty Cash for ₤120. 
D)  credit to Cash for ₤120. 
A)  debit to Cash for ₤150. 
B)  debit to Cash Over and Short for ₤2. 
C)  credit to Petty Cash for ₤120. 
D)  credit to Cash for ₤120.

Question 3

Related selling activities do not include

Accepted Answer

A)  ordering the merchandise. 
B)  making a sale. 
C)  shipping the goods. 
D)  billing the customer. 
A)  ordering the merchandise. 
B)  making a sale. 
C)  shipping the goods. 
D)  billing the customer.

Question 4

The ______________ of an asset should not have access to the accounting records of that asset.

Accepted Answer

The answer of The ______________ of an asset should not...

Question 5

Listed below are items that may be useful in preparing the March 2014, bank reconciliation for Grider Machine Works.
Using the following code, insert in the space before each item the letter where the amount would be located or otherwise treated in the bank reconciliation process.

Accepted Answer

1. B 
2. D
3. B 
4.

Question 6

Journal entries are required by the depositor for all of the following except

Accepted Answer

A)  collection of a note receivable. 
B)  bank errors. 
C)  bank service charges. 
D)  an NSF check. 
A)  collection of a note receivable. 
B)  bank errors. 
C)  bank service charges. 
D)  an NSF check.

Question 7

When making a payment from the petty cash fund for postage stamps, the following journal entry is made.

Accepted Answer

The answer of When making a payment from the petty...

Gabana Inc.'s €100 petty cash fund has cash of €6 and receipts of €91. The journal entry to replenish the account would include

Bellingham Company's ₤150 petty cash fund has cash of ₤28 and receipts of ₤120. The journal entry to replenish the account would include a

Related selling activities do not include

The ______________ of an asset should not have access to the accounting records of that asset.

Listed below are items that may be useful in preparing the March 2014, bank reconciliation for Grider Machine Works. Using the following code, insert in the space before each item the letter where the amount would be located or otherwise treated in the bank reconciliation process.

Journal entries are required by the depositor for all of the following except

When making a payment from the petty cash fund for postage stamps, the following journal entry is made.

Accounting in Action

The Recording Process

Adjusting the Accounts

Completing the Accounting Cycle

Accounting for Merchandising Operations

Inventories

Accounting for Receivables

Plant Assets, Natural Resources, and Intangible Assets

Liabilities

Corporations: Organization, Share Transactions, Dividends, and Retained Earnings

Investments

Statement of Cash Flows

Financial Statement Analysis

Accounting Principles and Contingent Liabilities in Business Operations

Filters

Exam 7: Fraud, Internal Control, and Cash

Gabana Inc.'s €100 petty cash fund has cash of €6 and receipts of €91. The journal entry to replenish the account would include

Bellingham Company's ₤150 petty cash fund has cash of ₤28 and receipts of ₤120. The journal entry to replenish the account would include a

Related selling activities do not include

The ______________ of an asset should not have access to the accounting records of that asset.

Listed below are items that may be useful in preparing the March 2014, bank reconciliation for Grider Machine Works. Using the following code, insert in the space before each item the letter where the amount would be located or otherwise treated in the bank reconciliation process.

Journal entries are required by the depositor for all of the following except

When making a payment from the petty cash fund for postage stamps, the following journal entry is made.

Accounting in Action

The Recording Process

Adjusting the Accounts

Completing the Accounting Cycle

Accounting for Merchandising Operations

Inventories

Accounting for Receivables

Plant Assets, Natural Resources, and Intangible Assets

Liabilities

Corporations: Organization, Share Transactions, Dividends, and Retained Earnings

Investments

Statement of Cash Flows

Financial Statement Analysis

Accounting Principles and Contingent Liabilities in Business Operations

Filters