51.

On December 31, before completing a bank reconciliation, Box Companys Cash account balance in its ledger was $4,000. However, according to its bank statement, the companys checking account balance was $5,000. When a bank reconciliation was completed, the reconciled balance per books and per bank statement totaled $$3,000. On the companys December 31 balance sheet, cash should be reported at:

		a. $3,000
		b. $4,000
		c. $5,000

40.

A company began December with 300 units of an item that cost $20 per unit. On 12/16 the company sold 100 units for a price of $40 per unit. The company then purchased 200 more units at $30 each. Using Weighted Average Costing perpetual, the Cost of Goods Sold would be:

		a. $2, 000
		b. $ 2,400
		c. $ 2,500
		d. $ 3,000

46.

During August, X Company deposited $5,400 into its checking account but recorded the event in its accounting records as a deposit of $4,500. How would you show this item on a bank reconciliation for August if you are reconciling the cash balance per books and the cash balance per bank statement to the correct cash balance?

		a. Addition of $900 to balance per books
		b. Deduction of $900 from balance per books
		c. Addition of $900 to balance per bank statement
		d. Deduction of $900 from balance per bank statement
		e. Would not appear on the August bank reconciliation form

47. X Companys cash receipts of $1,150 received on August 31 were deposited in the banks overnight depository on that date. This deposit was not listed on the August bank statement. How would you show this item on a bank reconciliation for August if you are reconciling the cash balance per books and the cash balance per bank statement to the correct cash balance?

		a. Addition to balance per books
		b. Deduction from balance per books
		c. Addition to balance per bank statement
		d. Deduction from balance per bank statement
		e. Would not appear on the August bank reconciliation form