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i cant figure out how to solve these or understand what the right answer is. plz help fast. Question 10 (15 points) Before reconciling its
i cant figure out how to solve these or understand what the right answer is. plz help fast.
Question 10 (15 points) Before reconciling its bank statement, Rollin Corporation's general ledger had a month-end balance in the cash account of $9,450. The bank reconciliation for the month contained the following items: Given the above information, what is the up-to-date ending cash balance Rollin should report at month-end? $8,100 $8,676 $9,288 $10,062 Which of the following items will require an adjusting journal entry on a company's books? EFT received from a customer Error made by the bank Outstanding checks Deposits in transit Which of the following statements concerning a petty cash fund is not correct? A petty cash fund acts as a control by establishing a limited amount of cash to use for specific types of expenses. The company's petty cash custodian is responsible for operating the petty cash fund. A petty cash fund is similar to an imprest payroll account in acting as a control of a limited amount of cash. To avoid the administrative costs of the use of purchasing cards, or Pcards, many organizations have started using petty cash funds. The entry to establish a petty cash fund is a Cash. to Cash and a to Petty credit; debit credit; credit debit; debit debit; credit What journal entry must be prepared when the company is notified by the bank that a customer's check that had been deposited in the amount of $776 was returned NSF? Debit Cash and credit Accounts Receivable in the amount of $776. No journal entry is necessary. Debit NSF Check Expense and credit Accounts Receivable in the amount of $776. Debit Accounts Receivable and credit Cash in the amount of $776 Step by Step Solution
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