Question :
111. Which of the following would be subtracted from the balance : 1247173
111. Which of the following would be subtracted from the balance per bank on a bank reconciliation? A. Outstanding checksB. Deposits in transitC. Notes collected by the bankD. Service charges
112. A bank reconciliation should be prepared A. whenever the bank refuses to lend the company money.B. to explain any difference between the company’s balance per books with the balance per bank.C. when an employee is suspected of fraud.D. by the person who is authorized to sign checks.
113. Harris Company had checks outstanding totaling $15,400 on its May bank reconciliation. In June, Harris Company issued checks totaling $64,900. The June bank statement shows that $37,600 in checks cleared the bank in June. A check from one of Harris Company’s customers in the amount of $300 was also returned marked “NSF.” The amount of outstanding checks on Harris Company’s June bank reconciliation should be A. $49,500.B. $53,000.C. $37,600.D. $42,700.
114. Meredith Company gathered the following reconciling information in preparing its May bank reconciliation:
Cash balance per books, 5/31
$2,500
Deposits in transit
150
Notes receivable and interest collected by bank
650
Bank charge for check printing
40
Outstanding checks
1,800
NSF check
140
The adjusted cash balance per books on May 31 is
A. $2,970.B. $3,120.C. $5,280.D. $1,320.
115. Derek Company gathered the following reconciling information in preparing its September bank reconciliation:
Cash balance per books, 9/30
$2,750
Deposits in transit
200
Notes receivable and interest collected by bank
630
Bank charge for check printing
30
Outstanding checks
1,250
NSF check
190
The adjusted cash balance per books on September 30 is
A. $5,050.B. $2,110.C. $3,160.D. $1,910.
116. Jamison Company developed the following reconciling information in preparing its June bank reconciliation:
Cash balance per bank, 6/30
$13,000
Note receivable collected by bank
4,000
Outstanding checks
7,000
Deposits-in-transit
2,500
Bank service charge
35
NSF
1,900
Using the above information, determine the cash balance per books (before adjustments) for the Jamison Company. A. $8,065B. $10,565C. $15,065D. $6,435
117. Thompson Company developed the following reconciling information in preparing its October bank reconciliation:
Cash balance per bank, 10/31
$17,000
Note receivable collected by bank
4,800
Outstanding checks
6,500
Deposits-in-transit
3,000
Bank service charge
50
NSF check
2,300
Using the above information, determine the cash balance per books (before adjustments) for the Thompson Company. A. $11,050B. $19,450C. $15,950D. $11,150
118. A $150 petty cash fund has cash of $28 and receipts of $110. The journal entry to replenish the account would include a A. credit to Petty Cash for $82.B. debit to Cash for $110.C. debit to Cash Over and Short for $12.D. credit to Cash for $110
119. A $135 petty cash fund has cash of $44 and receipts of $93. The journal entry to replenish the account would include a A. credit to Petty Cash for $93.B. debit to Cash for $93.C. credit to Cash Over and Short for $2.D. credit to Cash for $49.
120. Entries are made to the Petty Cash account when A. making payments out of the fund.B. recording shortages in the fund.C. replenishing the petty cash fund.D. establishing the fund.
