Question : 77. The valuation principle of “mark-to-market” applied to investments classified as : 1229752

 

 

77. The valuation principle of “mark-to-market” applied to investments classified as available for sale securities: 
A. Affects the current period income statement, but not the balance sheet.
B. Enhances usefulness of the balance sheet in evaluating solvency of a business.
C. Applies to marketable securities and inventories.
D. Requires a corporation to adjust its capital stock account to reflect current market value of its outstanding capital stock.

 

 

78. A bank reconciliation explains the differences between: 
A. Cash receipts and cash disbursements for the period.
B. The balance of cash in the bank and the budgeted expenditures for the upcoming accounting period.
C. The balance per bank statement and the cash balance per the accounting records of the depositor.
D. The balance per bank statement and cash expected to be on hand according to the cash forecast.

 

 

79. In reconciling a bank statement, which of the following items could cause the cash per the bank statement to be greater than the balance of cash shown in the depositor’s accounting records? 
A. An outstanding check.
B. A check returned to the depositor marked NSF.
C. Check 457 written for $643 was recorded by the depositor as $463.
D. A bank service charge.

 

 

80. When preparing a bank reconciliation, deposits in transit will: 
A. Increase the balance per depositor’s records.
B. Decrease the balance per depositor’s records.
C. Increase the balance per the bank statement.
D. Decrease the balance per the bank statement.

 

 

81. An NSF check returned by the bank should be entered in the depositor’s accounting records by a debit to: 
A. Accounts Receivable.
B. An expense account.
C. Cash.
D. Cash Over and Short.

 

 

82. In preparing a bank reconciliation, a service charge shown on the bank statement should be: 
A. Added to the balance per the bank statement.
B. Deducted from the balance per the bank statement.
C. Added to the balance per the depositor’s records.
D. Deducted from the balance per the depositor’s records.

 

 

83. Enclosed with the bank statement received by Sydney Company at October 31 was an NSF check for $300. No entry has yet been made by the company to reflect the bank’s action in charging back the NSF check. During preparation of the bank reconciliation, the NSF check should be: 
A. Deducted from the balance per the depositor’s records.
B. Deducted from the balance per the bank statement.
C. Added to the balance per the bank statement.
D. Added to the balance per the depositor’s records.

 

 

84. When a bank reconciliation has been satisfactorily completed, the only related entries to be made in the depositor’s records are: 
A. To correct errors made by the bank in recording the dollar amounts of cash transactions during the period.
B. To reconcile items that explain the difference between the balance per the books and the balance per the bank statement.
C. To record outstanding checks and bank service charges.
D. To record items that explain the difference between the balance per the accounting records and the adjusted cash balance.

 

 

85. During preparation of a bank reconciliation, outstanding checks should be: 
A. Added to the balance per the bank statement.
B. Deducted from the balance per the bank statement.
C. Added to the balance per the depositor’s records.
D. Deducted from the balance per the depositor’s records.

 

 

86. When the account Allowance for Doubtful Accounts is used, writing-off of an uncollectible accounts receivable will: 
A. Reduce income.
B. Reduce an expense.
C. Not change income or total assets.
D. Increase total assets.

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more