5. At the end of the day, the cash register's record shows $1,500, but the count of cash in the cash regisr is $1,100. The correct entry to record the cash sales for the day is: 1,10 A. Cash B. Cash Cash over and short 40 400 D. Cash Sales Cash over and short 40 Sales Assume that the custodian of a S420 petty cash fund has $67.50 in coins and currency plus $379.00 in receipts at the end of the month. The entry to replenish the petty cash fund will include: 6. A. A debit to Petty Cash for $379.00 B. A credit to Cash Over and Short for $8.00 C. A credit to Cash for $352.50 D. A debit to Cash for $311.50 E. A debit to Cash for $352.50 A company had $50 missing from petty cash and that was not accounted for by petty cash receipts. The correct procedure is to: 7. A. Credit Petty Cash for $50 B. Credit Cash Over and Short for $50 C. Debit Petty Cash for $50 D. Debit Cash Over and Short for $50 E. Credit Cash for $50 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 $390, but was erroneously entered in the accounting records as $930. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation? 8. A. S-540 decrease to Cash and a S-540 deerase to Utility Expense B. S-540 increase to Cash and a S-540 decrease to Utility Expense C. $20 decrease to Cash and a $20 decrease to Utility Expense D. S20 increase to Cash and a $120 decrease to Utility Expense E. $930 increase to Cash Company's accountant made an entry that included the following items: debit postage expense $1247, debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in ty cash is $320, how much was the credit to cash for the reimbursement? A. $320.00 B. $282.39 C. $37.61 D. $39.85 E. $42.09 Given the following information: . $450.00 543 20 102 54 582.70 Business meal recei Office supplies rocei $76.41 What is the amount of cash over and short? A. Debit $83.73 B. Credit $83.73 C. Debit $160.14 D. Credit $160.14 E. No cash over or short would be recorded Fluffy Pet Grooming deposits all cash receipts on the day when they are received and all cash payments are made by check. At the close of business on June 30, its Cash account shows a $14,839, debit balance Fluffy Pet Grooming's June 30 bank statement shows $14,617 on deposit in the bank. Prepare a bank reconciliation: for Fluffy Pet Grooming using the following information for bank services Check No. 919, listed with the canceled checks, was correctly drawn for $567 in payment of a utility bill on June 15. Fluffy Pet cash in the amount of $675 June 30 cash receipt of $2,548 were placed in the bank's night depository after banking hours and were not recorded on the June 3 bank statement What is the adjusted bank balance? A. $14,321 B. $14,876 C. $14,602 D. $14,580 E. $14,802 made by check. At the close of business on June 30, its Cash account shows a $14,835, debit balance. Flufty Pet Grooming's June 30 bank statement shows $14,510 on deposit in the bank. Prepare a bank reconciliation: for Fluffy Pet Grooming using the following information 12. Flufty Pet Grooming deposits all cash receipts on the day when they are received and all paymer b The June 30 bank statement included a $73 debit memorandum for banks June 15. Flufty Pet Check No. 919, listed with the canceled checks, was correctly drawn for $789 in payment of a utility bill on mistakenly recorded it with a debit to utilities d The June 30 cash receipt of $2,546 were placed in the bank's night depository afher banking hours and were not What is the adjusting journal entry required to record the increase in cash for the adjusted bank balance? A. Debit to cash $2,285 credit to accounts receivable $2,285 B. Credit to accounts receivable $2,285 debit to cash $2,285 C. Debit to cash $35 debit to bank charges $73 credit to utilities expenses 108 D. Debit to cash $2,546 credit to accounts receivable $2,546 E. Credit to cash $2,546 credit to accounts receivable $2,546 13. Expenses that support the overall operations of a business and include the expenses relating to accounting, human resource management and financial management are called: A. Cost of goods sold B. Selling expenses C. Purchasing expenses D. General and administrative expenses E. Non-operating activities 14. Which of the following accounts would be closed out with a debit? A. Sales Discounts B. Sales Returns and Allowances C. Cost of Goods Sold D. Operating Expenses E. Sales 15. A debit to Sales Returns and Allowances and a credit to Accounts Receivable: A. Reflects un increase in amount due from a customer B. Recognizes that a customer returned merchandise and/or received an allowance C. Requires a debit memorandum to recognize the customer's return D. Is recorded when a customer takes a discount E. Reflects an increase in net sales
