31)

 

Column 1

Column 2

Column 3

Column 4

Cash Short & Over

 

 

 

 

 

 

32)

 

Column 1

Column 2

Column 3

Column 4

Change Fund

 

 

 

 

 

 

33)

 

Column 1

Column 2

Column 3

Column 4

Delivery Expense

 

 

 

 

 

 

6.2   Learning Objective 6-2

 

1) The bank statement shows:

A) the beginning bank balance of the cash at the start of the month.

B) the checks the bank has paid and any deposits received.

C) any other charges or additions to the bank balance.

D) All of these answers are correct.

 

2) Scotch Services received a credit memorandum from the bank. During the bank reconciliation they should:

A) increase their cash account on the company’s books.

B) decrease their cash account on the company’s books.

C) increase the ending cash balance on the bank statement.

D) decrease the ending cash balance on the bank statement.

3) Checks that have been processed by the bank and are no longer negotiable are:

A) outstanding checks.

B) canceled checks.

C) checks in process.

D) blank checks.

4) On a bank reconciliation, deposits added to the bank side are called:

A) deposits in transit.

B) late deposits.

C) deposits on hold.

D) outstanding deposits.

 

5) Outstanding checks:

A) have been subtracted on the bank records but not the checkbook records.

B) have not been presented to the bank for payment and have not been subtracted from the checkbook.

C) have not been presented to the bank for payment but have been subtracted in the checkbook.

D) have been returned to the business for nonpayment.

 

6) A nonsufficient funds check was returned to your company. How does the bank treat this on your bank statement?

A) It is added to the bank balance.

B) It is shown as a debit memo.

C) It is shown as a credit memo.

D) None of these answers are correct.

7) The bank statement included bank charges. On the bank reconciliation, the item is:

A) an addition to the balance per company books.

B) an addition to the balance per bank statement.

C) a deduction from the balance per bank statement.

D) a deduction from the balance per company books.

 

 

 



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