Karlin Company gathered the following reconciling information in preparing its April bank reconciliation: $\begin{array}{lr} \text { Cash balance per books, } 4 / 30 & \$ 17,600 \\ \text { Deposits in transit } & 2,400 \\ \text { Notes receivable and interest collected by bank } & 5,920 \\ \text { Bank charge for check printing } & 200 \\ \text { Outstanding checks } & 12,000 \\ \text { NSF check } & 1,120 \end{array}$ The adjusted cash balance per books on April 30 is

A) $24600. B) $23520. C) $22200. D) $24440. A) $24600. B) $23520. C) $22200. D) $24440.

The following information was taken from Mitchell Company's cash budget for the month of July: \[\begin{array} { l r } \text { Beginning cash balance } & \$ 125,000 \\ \text { Cash receipts } & 120,000 \\ \text { Cash disbursements } & 170,000 \end{array}\] If the company has a policy of maintaining an end of the month cash balance of $125000 the amount the company would have to borrow is

A) $50000. B) $25000. C) $75000. D) $36000. A) $50000. B) $25000. C) $75000. D) $36000.

Exam 5: Fraud, Internal Control, and Cash

A check from one of Zoum Company's customers in the amount of $1650 was returned marked "NSF" with the company's June bank reconciliation.Use the following tabular analysis to determine the impact of the adjusting entry for the NSF check on Zoum's accounts:

(Multiple Choice)

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Question 141

Employees sometimes commit fraud because of personal financial problems caused by too much debt.

(True/False)

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Question 142

Which of the following bank reconciliation items would not result in an adjustment to the company's records?

(Multiple Choice)

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Question 143

In the month of May (its first month of operations)

(Multiple Choice)

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Question 144

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

(Multiple Choice)

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Question 145

Internal controls are concerned with

(Multiple Choice)

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Question 146

A traditional definition of internal control specifically includes all of the following features except

(Multiple Choice)

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Question 147

Which of the following is not a limitation of internal control?

(Multiple Choice)

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Question 148

In the month of May (its first month of operations)

(Multiple Choice)

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Question 149

Segregation of duties among employees eliminates the possibility of collusion.

(True/False)

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Question 150

In a small business the lack of certain separations of duties can best be overcome by

(Multiple Choice)

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Question 151

If a check correctly written and paid by the bank for $491 is incorrectly recorded on the company's books for $419 the appropriate treatment on the bank reconciliation would be to

(Multiple Choice)

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Question 152

A check returned by the bank marked "NSF" means

(Multiple Choice)

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Question 153

Before a check authorization is issued the following documents must be in agreement except for the

(Multiple Choice)

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Question 154

Karlin Company gathered the following reconciling information in preparing its April bank reconciliation: Cash balance per books, 4/30 \ 17,600 Deposits in transit 2,400 Notes receivable and interest collected by bank 5,920 Bank charge for check printing 200 Outstanding checks 12,000 NSF check 1,120 The adjusted cash balance per books on April 30 is

(Multiple Choice)

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Question 155

The control principle related to not having the same person authorize and pay for goods is known as

(Multiple Choice)

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Question 156

Internal control is most effective when several people are responsible for a given task.

(True/False)

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Question 157

The following information was taken from Mitchell Company's cash budget for the month of July: Beginning cash balance \ 125,000 Cash receipts 120,000 Cash disbursements 170,000 If the company has a policy of maintaining an end of the month cash balance of $125000 the amount the company would have to borrow is

(Multiple Choice)

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Question 158

The extent of internal control features adopted by a company must be evaluated in terms of cost-benefit.

(True/False)

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Question 159

Which of the following is not an internal control activity for cash?

(Multiple Choice)

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Question 160

Showing 141 - 160 of 196

A check from one of Zoum Company's customers in the amount of $1650 was returned marked "NSF" with the company's June bank reconciliation.Use the following tabular analysis to determine the impact of the adjusting entry for the NSF check on Zoum's accounts:

Employees sometimes commit fraud because of personal financial problems caused by too much debt.

Which of the following bank reconciliation items would not result in an adjustment to the company's records?

In the month of May (its first month of operations)

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

Internal controls are concerned with

A traditional definition of internal control specifically includes all of the following features except

Which of the following is not a limitation of internal control?

In the month of May (its first month of operations)

Segregation of duties among employees eliminates the possibility of collusion.

In a small business the lack of certain separations of duties can best be overcome by

If a check correctly written and paid by the bank for $491 is incorrectly recorded on the company's books for $419 the appropriate treatment on the bank reconciliation would be to

A check returned by the bank marked "NSF" means

Before a check authorization is issued the following documents must be in agreement except for the

The control principle related to not having the same person authorize and pay for goods is known as

Internal control is most effective when several people are responsible for a given task.

The extent of internal control features adopted by a company must be evaluated in terms of cost-benefit.

Which of the following is not an internal control activity for cash?

Introduction to Financial Statements

A Further Look at Financial Statements

The Accounting Information System

Accrual Accounting Concepts

Reporting and Analyzing Long-Lived Assets

Reporting and Analyzing Liabilities and Stockholders Equity

Financial Analysis: the Big Picture

Managerial Accounting

Cost-Volume-Profit

Incremental Analysis

Budgetary Planning

Budgetary Control and Responsibility Accounting

Standard Costs and Balanced Scorecard

Planning for Capital Investments

Activity Based Costing

Cost-Volume Profit Analysis: Additional Issues

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