1) If the amount of cash sales registered does not match the cash receipts on hand, the

A. cash short and over account is debited for the shortage amount.

B. cash short and over account is credited for the shortage amount.

C. sales account is debited for the amount of cash receipts on hand.

D. sales account is credited for the amount of cash receipts on hand.

2) If the amount of cash sales registered does not match the cash receipts on hand, the

A. cash short and over account is debited for the shortage amount.

B. cash short and over account is credited for the shortage amount.

C. sales account is debited for the amount of cash receipts on hand.

D. sales account is credited for the amount of cash receipts on hand.

3) Which of the following is NOT a reason for which a bank issues debit memos?

A.Service charges

B.Customer checks returned for not sufficient funds

C.Payments made by electronic funds transfer

D.Interest earned on the companys account

4) When preparing a bank reconciliation, outstanding checks are

A.deducted from the bank balance.

B.added to the bank balance.

C.deducted from the companys cash balance.

D.added to the companys cash balance.

5) When preparing a bank reconciliation, a not sufficient funds (NSF) check is

A.deducted from the bank balance.

B.added to the bank balance.

C.deducted from the companys cash balance.

D.added to the companys cash balance.

6) A petty cash fund of $500 is established on October 1. The entry to journalize this transaction is debit __________ and credit __________.

A.Petty Cash; Cash

B.Cash; Petty Cash

C.Petty Cash Expense; Cash

D.Retained Earnings; Petty Cash

7) Replenishing the petty cash fund requires a __________ to __________.

A.debit; Cash

B.credit; Cash

C.debit; Petty Cash

D.credit; Petty Cash

8) Days cash on hand is computed as __________ divided by __________.

A.cash and short-term investments; daily cash operating expenses

B.daily cash operating expenses; cash and cash equivalents

C.cash and cash equivalents; daily cash operating expenses

D.daily cash operating expenses; cash and short-term investments

9) Financial data for a company are provided below:

Cash (end of year)	$500,000
Short-term investments (end of year)	400,000
Operating expenses	750,000
Depreciation expense	100,000

What is the companys days cash on hand?

A.243.33

B.280.77

C.438

D.505.39