A response with a short explanation is required to recieve the points. These que
ID: 2373337 • Letter: A
Question
A response with a short explanation is required to recieve the points. These questions are multiple choice, I will leave this up here for awhile1.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 2889 for December's utilities was correctly written and drawn for $595, but was erroneously entered in the accounting records as $955. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation? $955 increase to Cash $50 increase to Cash and a $150 decrease to Utility Expense $-360 increase to Cash and a $-360 decrease to Utility Expense $-360 decrease to Cash and a $-360 decrease to Utility Expense $50 decrease to Cash and a $50 decrease to Utility Expense
2.)
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a: Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
5.)
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement? $39.85 $42.09 $282.39 $37.61 $320.00
A response with a short explanation is required to recieve the points. These questions are multiple choice, I will leave this up here for awhile
1.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 2889 for December's utilities was correctly written and drawn for $595, but was erroneously entered in the accounting records as $955. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation? $955 increase to Cash $50 increase to Cash and a $150 decrease to Utility Expense $-360 increase to Cash and a $-360 decrease to Utility Expense $-360 decrease to Cash and a $-360 decrease to Utility Expense $50 decrease to Cash and a $50 decrease to Utility Expense
2.)
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a: Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
5.)
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement? $39.85 $42.09 $282.39 $37.61 $320.00
A response with a short explanation is required to recieve the points. These questions are multiple choice, I will leave this up here for awhile
1.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 2889 for December's utilities was correctly written and drawn for $595, but was erroneously entered in the accounting records as $955. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation? $955 increase to Cash $50 increase to Cash and a $150 decrease to Utility Expense $-360 increase to Cash and a $-360 decrease to Utility Expense $-360 decrease to Cash and a $-360 decrease to Utility Expense $50 decrease to Cash and a $50 decrease to Utility Expense
2.)
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a: Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
5.)
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement? $39.85 $42.09 $282.39 $37.61 $320.00
A response with a short explanation is required to recieve the points. These questions are multiple choice, I will leave this up here for awhile
1.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 2889 for December's utilities was correctly written and drawn for $595, but was erroneously entered in the accounting records as $955. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation? $955 increase to Cash $50 increase to Cash and a $150 decrease to Utility Expense $-360 increase to Cash and a $-360 decrease to Utility Expense $-360 decrease to Cash and a $-360 decrease to Utility Expense $50 decrease to Cash and a $50 decrease to Utility Expense
2.)
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a: Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
5.)
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement? $39.85 $42.09 $282.39 $37.61 $320.00
A response with a short explanation is required to recieve the points. These questions are multiple choice, I will leave this up here for awhile
1.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 2889 for December's utilities was correctly written and drawn for $595, but was erroneously entered in the accounting records as $955. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation? $955 increase to Cash $50 increase to Cash and a $150 decrease to Utility Expense $-360 increase to Cash and a $-360 decrease to Utility Expense $-360 decrease to Cash and a $-360 decrease to Utility Expense $50 decrease to Cash and a $50 decrease to Utility Expense
2.)
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a: Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
5.)
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement? $39.85 $42.09 $282.39 $37.61 $320.00
$955 increase to Cash $50 increase to Cash and a $150 decrease to Utility Expense $-360 increase to Cash and a $-360 decrease to Utility Expense $-360 decrease to Cash and a $-360 decrease to Utility Expense $50 decrease to Cash and a $50 decrease to Utility Expense
2.)
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a: Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
5.)
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement? $39.85 $42.09 $282.39 $37.61 $320.00
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a: Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a: Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a: Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a: Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 4.) Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement? $39.85 $42.09 $282.39 $37.61 $320.00
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement? $39.85 $42.09 $282.39 $37.61 $320.00
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement? $39.85 $42.09 $282.39 $37.61 $320.00
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement? $39.85 $42.09 $282.39 $37.61 $320.00
$39.85 $42.09 $282.39 $37.61 $320.00
$955 increase to Cash $50 increase to Cash and a $150 decrease to Utility Expense $-360 increase to Cash and a $-360 decrease to Utility Expense $-360 decrease to Cash and a $-360 decrease to Utility Expense $50 decrease to Cash and a $50 decrease to Utility Expense
2.)
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a: Credit to Petty Cash for $160 Debit to Miscellaneous Expenses for $140 Debit to Cash Short and Over for $15 Debit to Cash for $100 Credit to Cash for $100
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is: Cash 220 Sales 220 Cash 1,350 Sales 1,350 Cash 1,130 Cash over and short 220 Sales 1,350 Cash 1,130 Sales 1,130 Cash 1,350 Sales 1,130 Cash over and short 220 4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should: Add $3,795 to the book balance of cash Deduct $3,795 from the book balance of cash Add $7,300 to the book balance of cash Add $3,895 to the bank statement balance Deduct $3,795 from the bank statement balance
5.)
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement? $39.85 $42.09 $282.39 $37.61 $320.00
Explanation / Answer
1.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 2889 for December's utilities was correctly written and drawn for $595, but was erroneously entered in the accounting records as $955. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation? $-360 increase to Cash and a $-360 decrease to Utility ExpenseSince when wrong entry was passed cash is wrongly credited by $955 which is to be passed as $595 therfore wrongly credited amount is reversed by passing reverse entry of wrong amt credited
2.)
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a:
Debit to Cash for $100
It will decrease petty cash fund and the cash amount is transferred in cash a./c
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is:
Cash 1,130 Cash over and short 220 Sales 1,350 It is due to loss on cash collection
4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should:
Deduct $3,795 from the book balance of cash
it has been overstated which is to be corrected
5.)
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement?
$37.61
Creit to cash for reimbursement=12.47+27.38-2.24 = $37.61
$-360 increase to Cash and a $-360 decrease to Utility Expense
Since when wrong entry was passed cash is wrongly credited by $955 which is to be passed as $595 therfore wrongly credited amount is reversed by passing reverse entry of wrong amt credited
2.)
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a:
Debit to Cash for $100
It will decrease petty cash fund and the cash amount is transferred in cash a./c
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is:
Cash 1,130 Cash over and short 220 Sales 1,350 It is due to loss on cash collection
4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should:
Deduct $3,795 from the book balance of cash
it has been overstated which is to be corrected
5.)
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement?
$37.61
Creit to cash for reimbursement=12.47+27.38-2.24 = $37.61
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a:
Debit to Cash for $100
It will decrease petty cash fund and the cash amount is transferred in cash a./c
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is:
Cash 1,130 Cash over and short 220 Sales 1,350 It is due to loss on cash collection
4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should:
Deduct $3,795 from the book balance of cash
it has been overstated which is to be corrected
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a:
Debit to Cash for $100
It will decrease petty cash fund and the cash amount is transferred in cash a./c
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is:
Cash 1,130 Cash over and short 220 Sales 1,350 It is due to loss on cash collection
4.)
Debit to Cash for $100
It will decrease petty cash fund and the cash amount is transferred in cash a./c
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is:
Cash 1,130 Cash over and short 220 Sales 1,350 It is due to loss on cash collection
In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should:
Deduct $3,795 from the book balance of cash
it has been overstated which is to be corrected
In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should:
Deduct $3,795 from the book balance of cash
it has been overstated which is to be corrected
Deduct $3,795 from the book balance of cash
it has been overstated which is to be corrected
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement?
$37.61
Creit to cash for reimbursement=12.47+27.38-2.24 = $37.61
$37.61
Creit to cash for reimbursement=12.47+27.38-2.24 = $37.61
$-360 increase to Cash and a $-360 decrease to Utility Expense
Since when wrong entry was passed cash is wrongly credited by $955 which is to be passed as $595 therfore wrongly credited amount is reversed by passing reverse entry of wrong amt credited
2.)
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a:
Debit to Cash for $100
It will decrease petty cash fund and the cash amount is transferred in cash a./c
3.) At the end of the day, the cash register's record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is:
Cash 1,130 Cash over and short 220 Sales 1,350 It is due to loss on cash collection
4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April's rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should:
Deduct $3,795 from the book balance of cash
it has been overstated which is to be corrected
5.)
Triple Company's accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement?
$37.61
Creit to cash for reimbursement=12.47+27.38-2.24 = $37.61
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