sua.Questions-for-Ch x Study er Tools Add-ons Help Accessibility All changes saved in Drive Itext 1. Entries are made to the petty cash accoun whe a making payments out of the fund b recording, shortages in tihe fund c replen shing the petty cash fnd d establishing the fund 2. The amount of the oustanding checks is incloded on the bank reconcilanion an a deduction from the balace per company's records b. addition to the balance per bank statement c deduction from the balance per bank statement d additiomto the balexce per company's records 3. Gunnar Company gahered the following reconciling, information in preparing its Septrmber bank recoscilation Calule the adjusted cash balacr per books on September 30 utstanding chec a $5,130 $3,690 c. 53,040 d. $1,590 4 EFT a ans Efficiens Funds Transfer b can process certain cash twansactions at less cost than by using the mail inar e Corporate Financial Ac Mail-justinjackson 03 Study Questions for cr x Stud nent/d/1fk3Np0eYB7CYgskZwj ZcKSColtfT46UB6ww3rmNCYO/edit s Add-ons Help Accessibility Allchanges savedin Drive a means Efficient Funds Transfer b. can process certain cash transactions at less cost than by using the mail c. makes it erasier to document purchase and sale wansactions d. means Efective Funds Transfer 5. A check drawn by a company for $340 im payment of a liability was reconded in the journal as 5430 This nem would be inchuded on the bank reconciluation as afn) a addsion to the belance per the company's records b. addition to the balance per the hank ssatement c dedaction from the balance per the bank stment d deduction from the balance per the company's records 6 Which of the following should not be considered cach by an accoun C c e g Corporate Finan x C Corporate Financial Acc x e.com/document/d/1fk3NpDeYB7CYgskZwj ZcKSColtfT46UB6ww3rmNCYO/edit hapter,7 mat Tools Add-ons Help Accessibility All changes saved in Drive ormal text Times New9 0P Mail-justin Jjackson 03 E Study Questions Jor Ch 6 Which of the following shouild eot be considered cash by an acountan a money onders b. bank checking accounts c postage stams d. travelers' checks 7 Accompanying the bank statemt was a debit meo for bank service charges. What emtry is required in the company's accouns a debit Miscellaneous Expemse, credit Cmh bdebir Cash, areder Other Inc debit Cash, credit Accounts Payable d debit Accounts Payable, credx Cash &. Accompanying the bank stanement was a dei memo for bank service charges. On the bank reconcilanon, the item is adeduction from the balance per company's reconds b. an addition to the balance per bank snem a deduction from the balance per bank statement d an addition to the balance per company's records 9. Accompanying the bank statement was a caredit memo for a shon-em ote tr bnk suami vasm for a shor m noe collected by the bank for the cusnomes What eniry is requised in de Wha e a debit Notes Recevable, cred Cas c orporate Finan x C Corporate Finacial Ac x :Mail justin Jac n/document/d/1fk3Np0eYB7CYgskZwj ZcKSColtfT46UB6ww3rmNCYO/edit oter 7 t Tools Add-ons Help Accessibility All changes saved in Drive al text . Financial Acc X Study, Questions for.Ch Stuby 9. Accompanying the bank statement was a credit memo for a shons-tem note collected by the bank for the customer What entry is requiered in the company's accounts? a debit Notes Receivable, credit Cash b. debi Cash, credit Miscellaneous Income c debit Cash, credit Notes Receivable and Interest Reven d debit Accounts Receivable, credit Cash 10 In the normal operation of business, yos receive a check from a cusomer and deposit it into your checking account With your bank sutement you are advised that this check for $775 is "NSF. The bank also informs you thae dur to the amount of activity on your business accoune the monthly service charge is $75. During a bank reconciliation, you will a subtract both values froen balance according to bank c add both valoes to balance according to bank d. subtract both values from balance according to books 11. Credit memos from the bank a decrease a bank cussomer's accou b are used to show a bink service chge C show that & company has deposited a customer's NSE check d show the bank has colected a mote recevable for the cussomer 12. The amount of cash to be reported on the belance sheet at June 30 is the a sotal of the cash colms in the cash receipts journal as of June 30 b. adjusted balance appoaring in the bank reconcilation for Juse 30 tosal of the cash column in the cash paymt journal as of June 30 d. balance as of June 30 on the bank stement 13. The portion of an ineokce that in returned with payment is a