Question
A business has a petty cash fund of $100. On its replenishment date of June 20, the petty cash fund has $10 cash and receipts
A business has a petty cash fund of $100. On its replenishment date of June 20, the petty cash fund has $10 cash and receipts for postage $25, office supplies $30, and miscellaneous $40. At the same time as replenishing the fund, the petty cash fund was increased by $50 to a total of $150. What is the amount credited to Cash when the petty cash fund was filled and increased in amount?
Select one:
a.$145
b.$150
c.$140
d.$100
e.$95
Which the following would result in a journal entry after preparing the bank reconciliation?
Select one:
a.EFT payment from customer on account.
b.A $250 outstanding cheque was issued by the company but hasnt yet cleared the chequing account.
c.The company deposited $650 at the bank but the deposit wasnt yet recorded in the bank statement.
d.The bank made a mistake. A $650 company deposit was recorded as $560 in the bank statement.
The following asset balances were as follows: Cash, $9,650; Accounts Receivable, $21,600; and Allowance for Doubtful Accounts, $5,540. The next day, you record the collection of a customer account for $2,010 that had been written off six months earlier. Record the balances of each of these accounts after the customer collection.
Select one:
a.Cash, $9,600; Accounts Receivable, $21,600; Allowance for Doubtful Accounts, $7,550
b.Cash, $9,600; Accounts Receivable, $23,610; Allowance for Doubtful Accounts, $5,540
c.Cash, $11,660; Accounts Receivable, $23,610; Allowance for Doubtful Accounts, $5,540
d.Cash, $11,660; Accounts Receivable, $21,600; Allowance for Doubtful Accounts, $7,550
e.Cash, $9,600; Accounts Receivable, $21,600; Allowance for Doubtful Accounts, $5,540
Before year end adjusting entries, Accounts Receivable had a $215,000 balance. The Allowance for Doubtful Accounts had $5,640 credit balance. Based on % of receivables method, $25,600 of year-end receivables are estimated to be uncollectible. After the year end adjusting entry for bad debt expense, what are the balances in the following accounts?
Select one:
a.Bad Debt Expense, $19,960 and Allowance for Doubtful Accounts, $19,960
b.Bad Debt Expense, $25,600 and Allowance for Doubtful Accounts, $25,600
c.Bad Debt Expense, $19,960 and Allowance for Doubtful Accounts, $25,600
d.Bad Debt Expense, $31,240 and Allowance for Doubtful Accounts, $31,240
e.Bad Debt Expense, $25,600 and Allowance for Doubtful Accounts, $31,240
PLEASE SOLVE ALL. I NEED ALL
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