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A petty cash fund was established with a $250 balance. The petty cash custodian currently has cash of $29 in the petty cash box and

A petty cash fund was established with a $250 balance. The petty cash custodian currently has cash of $29 in the petty cash box and petty cash tickets or receipts totalling $219. Which of the following would be included in the entry to replenish the fund?

Question 18 options:

Debits to various expenses for $219 and a debit to Cash Shortage and Overage for $2

A credit to cash in bank for $250

A debit to petty cash for $219

A credit to petty cash for $219

Which of the following would be a legal consequence of violating the Sarbanes-Oxley Act?

Question 21 options:

The Public Company Oversight Board could require that the external auditor replace the internal control staff of a company for 3 to 5 years.

Internal control staff convicted of lack of independence could be sentenced to 25 years in prison.

An executive of the company that is convicted of making false sworn statements could be sentenced to 20 years in prison.

A company's internal control system could be dismantled and replaced by the Public Company Oversight Board.

Which of the following amounts appears as the cash balance on the November 30 balance sheet?

Question 24 options:

The amount of cash added to the book balance on the bank reconciliation.

The amount of cash deducted from the book balance on the bank reconciliation.

The amount reported on the November 30 bank statement.

The amount shown as the adjusted balance on the bank reconciliation.

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