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10-16 if possible please thank you 10) Deposits in transit a) have been recorded on the company's books but not yet by the bank. b)
10-16 if possible please thank you
10) Deposits in transit a) have been recorded on the company's books but not yet by the bank. b) have been recorded by the bank but not yet by the company. c) have not been recorded by the bank or the company. d) are checks from customers which have not yet been received by the company. 11) Which of the following items are found on a book side of the bank reconciliation? a. interest income. b. beginning bank balance. c. outstanding checks. d. deposits in transit. 12) What would be a reason a company would want to understate income? a) to help nudge its stock price higher. b) to lower its tax bill. c) to show an increase in overall profits. d) to increase investor confidence 13) Blank checks a. should be safeguarded. b. should be pre-signed. c. do not need to be safeguarded since they must be signed to be valid. d. should not be prenumbered. 14) Storing cash in a company safe is an application of which internal control principle? a. Segregation of duties b. Documentation procedures c. Physical controls d. Establishment of responsibility 15) List three common-sense reasons why a receivable may become uncollectible. 16) After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $479,000 and Allowance for Doubtrul Accounts has a balance of $30,000. What is the net realizable value of the accounts receivable Step by Step Solution
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