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No need explanation. Just want to check my answer. Question 13 (2 points) Outstanding checks: OA) have been returned to the business for nonpayment. OB)
No need explanation. Just want to check my answer.
Question 13 (2 points) Outstanding checks: OA) have been returned to the business for nonpayment. OB) have been deducted from the bank balance but not the checkbook records. c) have not been presented to the bank for payment and have not been subtracted from the checkbook. D) have not been presented to the bank for payment but have been subtracted in the checkbook. Question 14 (2 points) Determine the adjusted cash balance per bank for Sheryl's Packaging on November 30, from the following information: Cash balance on the bank statement Customer's check returned- INSF Customer's note collected by the bank Deposits in transit, November $3,200 300 600 30 1.000 Outstanding checks, November 30 3,700 OA) $1,600 OB) $1,800 OC) $1,900 OD) $500 Question 15 (2 points) The May bank statement for Accounting Services shows a balance of $6,200, but the balance per books shows a cash balance of $7,680. Other information includes: 1. A check for $190 to pay the electric bill was recorded on the books as $30. 2. Included on the bank statement was a note collected by the bank for $370 plus interest of $30. 3. Checks outstanding totaled $270. 4. Bank service charges were $50. 5. Deposits in transit were $1,880. The adjusted cash balance at the end of May should be: OA) $7,810. O B) $9,560. OC) $7,590. OD) $7,140. Question 16 (2 points) A payment for $27 is incorrectly recorded on the checkbook stub as $72. The $45 error should be shown on the bank reconciliation as: OA) added to the balance per bank statement. OB) deducted from the balance per bank statement. OC) added to the balance per books. OD) deducted from the balance per books. Question 17 (2 points) The journal entry to record the entry of a customer's nonsufficient funds check would include a: OA) credit to Cash. OB) debit to Revenue. debit to Collection Expense. OD) credit to Accounts Receivable. Question 18 (2 points) The bank deducted another company's check from our account. This would be included on the bank reconciliation as a(n): O A) addition to the balance per books. addition to the balance per bank. O C) subtraction from the balance per books. subtraction from the balance per bankStep by Step Solution
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