Easton Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on June 30, its Cash account shows a debit balance of $63,209. Easton's June bank statement shows a $60,749 balance in the bank. Determine the adjusted cash balance using the following information: 17 Deposit in transit Outstanding checks Check printing fee, not yet recorded by company Interest earned, not yet recorded by the company $ 4,700 $ 2,225 $ 21 $36 points The adjusted cash balance should be: eBook Multiple Choice Print References O $63,188 0 $63.245 $65,449 O $58,524 $63,22 $63.224 TB MC Qu. 06-105 (Algo) Spencer Company has a... 18 Spencer Company Normal 0 false false false EN-US X-NONE X-NONE has a $220 petty cash fund. At the end of the first month the accumulated receipts represent $45 for delivery expenses. $135 for merchandise inventory, and $14 for miscellaneous expenses. The fund has a balance of $26. The journal entry to record the reimbursement of the account includes a: 1 points Multiple Choice eBook Debit to Petty Cash for $220. Print References O Debit to Cash Over and Short for $26. O Credit to Cash for $194. O Credit to Inventory for $135. Credit to Cash Over and Short for $26. O TB MC Qu. 06-143 (Algo) Havermill Company establishes... 19 Havermill Company establishes a $310 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $79 for Office Supplies, $149 for merchandise inventory, and $28 for miscellaneous expenses. The fund has a balance of $54. On October 1, the accountant determines that the fund should be increased by $62. The journal entry to record the establishment of the fund on September 1 is: 1 points Multiple Choice eBook Print Debit Cash $310; credit Petty Cash $310. References Debit Petty Cash $310; credit Accounts Payable $310. Debit Miscellaneous Expense $310: credit Cash $310. Debit Petty Cash $310; credit Cash $310. Debit Cash $310; credit Accounts Payable $310. TB MC Qu. 06-100 (Algo) At the end of the day, the cash... 20 At the end of the day, the cash register tape shows $1,160 in cash sales but the count of cash in the register is $1,210. The proper entry to account for this excess is: 1 points Multiple Choice eBook Debit Cash $1,160: credit Sales $1,160 Print References O Debit Cash $1.210: credit Sales $1.210 Debit Cash $1,210: credit Sales $1.160: credit Cash Over and Short $50 O O O Debit Cash $1,160: debit Cash Over and Short for $50: credit Sales $1.210. O Debit Cash Over and Short $50: credit Cash $50
