Question :
48.In preparing the April bank reconciliation for Oscar Company, it : 1254462
48.In preparing the April bank reconciliation for Oscar Company, it was discovered that on April 10 a check was written to pay delivery expense of $45 but the check was erroneously recorded as $54 in the company’s books. The journal entry required to correct the error is
A.
B.
C.
D.
49.Which of the following is not a procedure to maintain internal controls over cash payments?
A. Checks should be properly authorized with approval signatures.
B. A receipt should be provided to each cash customer.
C. All checks should be prenumbered.
D. Spoiled checks should be voided and retained.
50.While preparing its bank reconciliation, Mayhew Company determined that its bank had collected a $950 account receivable for the company and deducted a $35 collection fee. Which of the following shows the effect of this transaction on the financial statements?
A. Option A
B. Option B
C. Option C
D. Option D
51.While performing its monthly bank reconciliation, the bookkeeper for the Maynard Company discovered that a check written for $241 for advertising expense was recorded in the firm’s books as $421. Which of the following shows the effect of the correcting entry on the financial statements?
A. Option A
B. Option B
C. Option C
D. Option D
52.While performing its monthly bank reconciliation, the bookkeeper for the Gee Corporation noted that a deposit of $900 (received from a customer on account) was recorded in the company books as $990. Which of the following shows the effect of the correcting entry on the financial statements?
A. Option A
B. Option B
C. Option C
D. Option D
53.While performing the monthly bank reconciliation, the bookkeeper for Marcus Company made the journal entry for a bank service charge of $49. Which of the following correctly shows the effect of the entry on the financial statements?
A. Option A
B. Option B
C. Option C
D. Option D
54.Which document issued by a bank reflects a transaction that decreases a company’s checking account balance?
A. A debit memo.
B. A credit entry.
C. A credit memo.
D. A reconciling entry.
55.In a bank reconciliation, a customer’s NSF check included with the bank statement is:
A. deducted from the bank’s cash balance to get the true cash balance.
B. added to the bank’s cash balance to get the true cash balance.
C. deducted from the company’s cash balance to get the true cash balance.
D. added to the company’s cash balance to get the true cash balance.
56.How will a certified check be treated in a company’s bank reconciliation?
A. As a deduction to the company’s unadjusted book balance.
B. As an increase to the bank’s unadjusted bank balance.
C. As a deduction to the bank’s unadjusted bank balance.
D. None of these.
57.In the reconciliation of the June bank statement, a deposit made on June 30 did not appear on the June bank statement. In preparing the bank reconciliation, this deposit in transit should be
A. subtracted from the unadjusted book balance.
B. added to the unadjusted bank balance.
C. subtracted from the unadjusted bank balance.
D. added to the unadjusted book balance.
or Waypoint 
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