Question : 111. Which of the following would be subtracted from the balance : 1234119

 

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 depositor’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. Jones Company had checks outstanding totaling $5,400 on its June bank reconciliation. In July, Jones Company issued checks totaling $38,900. The July bank statement shows that $26,300 in checks cleared the bank in July. A check from one of Jones Company’s customers in the amount of $300 was also returned marked “NSF.” The amount of outstanding checks on Davis Company’s July bank reconciliation should be             A. $7,200.B. $12,600.C. $17,700.D. $18,000.

114. Santos Company gathered the following reconciling information in preparing its August bank reconciliation: 

 

 

Cash balance per books, 8/31

$3,500

 

 

Deposits in transit

150

 

 

Notes receivable and interest collected by bank

850

 

 

Bank charge for check printing

20

 

 

Outstanding checks

2,000

 

 

NSF check

170

     The adjusted cash balance per books on August 31 is

 

 

 

 

A. $4,160.B. $4,010.C. $2,310.D. $2,460.

115. Jonas Company gathered the following reconciling information in preparing its April bank reconciliation: 

 

 

Cash balance per books, 4/30

$2,200

 

 

Deposits in transit

300

 

 

Notes receivable and interest collected by bank

740

 

 

Bank charge for check printing

25

 

 

Outstanding checks

1,500

 

 

NSF check

140

     The adjusted cash balance per books on April 30 is

 

 

 

 

A. $3,075.B. $2,940.C. $2,775.      D.       $3,055.

116. Marcus Company developed the following reconciling information in preparing its September bank reconciliation: 

Cash balance per bank, 9/30

$11,000

Note receivable collected by bank

6,000

Outstanding checks

9,000

Deposits-in-transit

4,500

Bank service charge

75

NSF

1,200

 

 

      Using the above information, determine the cash balance per books (before adjustments) for the Marcus Company. A. $9,775B. $15,725C. $15,500D. $1,775

117. Morris Company developed the following reconciling information in preparing its December bank reconciliation: 

 

Cash balance per bank, 12/31

$13,000

 

Note receivable collected by bank

6,000

 

Outstanding checks

8,000

 

Deposits-in-transit

4,500

 

Bank service charge

75

 

NSF check

1,200

 

 

 

      Using the above information, determine the cash balance per books (before adjustments) for the Morris Company. A. $4,775B. $14,225C. $15,500D. $17,725

118. A $100 petty cash fund has cash of $18 and receipts of $80. The journal entry to replenish the account would include a A. credit to Petty Cash for $84.B. debit to Cash for $80.C. debit to Cash Over and Short for $2.D. credit to Cash for $80

119. A $100 petty cash fund has cash of $16 and receipts of $86. The journal entry to replenish the account would include a A. credit to Petty Cash for $86.B. debit to Cash for $86.C. credit to Cash Over and Short for $2.D. credit to Cash for $80

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.