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Please help me answer these correctly and as soon as possible. Thanks. 15) A cash budget does all of the following EXCEPT: A) controls operations.

Please help me answer these correctly and as soon as possible. Thanks.
15) A cash budget does all of the following EXCEPT:
A) controls operations.
B) determines if the company will need to borrow money.
C) helps coordinate business activities.
D) helps a company manage cash by planning receipts and payments.
16) Hints of where fraud, mistakes or financial harm can occur in a company is called: A) control procedures. B) the tone at the top.
C) the control environment. D) risk assessment.
17) If a bank statement included a bank collection and related interest revenue, the journal entry to record this reconciling item should include a:
A) debit to Note Receivable. B) debit to Note Payable. C) debit to Cash. D) credit to Cash.
18) The ending bank statement balance for November is $9,845. The bank statement shows a service charge of $95, electronic funds receipts of $500, and a NSF check for $350. Deposits in transit total $2,050 and outstanding checks are $1,835. What is the adjusted bank balance?
A) $10,060 B) $13,730 C) $8,900 D) $10,115
19) An unrealized gain:
A) is recorded when the fair value of the trading security is more than its cost. B) is recorded when a trading security is sold for less than its cost.
C) is recorded when the fair value of the trading security is less than its cost. D) is recorded when a trading security is sold for more than its cost.
20) When a company receives a cash dividend from a trading security, the journal entry includes:
A) a debit to cash and credit to trading investment. B) a debit to cash and credit to dividend revenue. C) a debit to dividend revenue and credit to cash. D) none of the above.
21) A business offers credit terms of 1/15, n/30. These terms indicate that: A) no discount is offered for early payment.
B) the buyer can take a 1% discount if the bill is paid within 15 or 30 days.
C) the total amount of the invoice must be paid within 15 days.
D) a discount of 1% can be taken if the invoice is paid within 15 days.
22) Under the allowance method, the entry to write off a $2,600 uncollectible account includes a: A) debit to Allowance for Uncollectible Accounts for $2,600.
B) credit to Uncollectible-Account Expense for $2,600.
C) credit to Allowance for Uncollectible Accounts for $2,600.
D) debit to Accounts Receivable for $2,600.
23) ABC company sells goods to the XYZ Company for $1,000, It offers credit terms of 2/10, n/30. If XYZ Company pays the invoice within the discount period, ABC Company will record a debit to cash in the amount of:
A) $20. B) $980. C) $200. D) $1,000.
24) The balance in Accounts Receivable was $650,000 at the beginning of the year and $350,000 at the end of the year. Credit sales for the year totaled $4,100,000. During the year, $400,000 in customer accounts were written off. How much cash was collected from customers during the period?
A) $4,400,000 B) $3,750,000 C) $4,000,000 D) $4,800,000
25) Martson and Co. made the following journal entries:
Accounts Receivable
25,000
Sales Revenue
25,000
Cost of Goods Sold
10,000
Inventory
10,000
What is Martson's gross profit from this sale?
A) $15,000 B) $35,000 C) $25,000 D) $10,000
26) Company A purchased inventory for $100,000. In addition they had purchase returns of $7,000 and paid freight-in of $8,000.Company A's net purchases would be:
A) $101,000. B) $ 85,000. C) $115,000. D) $ 99,000.
27) An example of an intangible asset is: A) goodwill.
B) land.
C) coal mine. D) equipment.
28) On January 2, 2011, KJ Corporation acquired equipment for $260,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is $20,000. What is the balance in Accumulated Depreciation on December 31, 2012, if KJ Corporation uses the double-declining- balance method of depreciation?
A) $166,400 B) $38,400 C) $104,000 D) $208,000
29) Blue Moon Company has the following data for the year:
Beginning inventory $80,000 Net purchases $115,000
Net sales revenue $200,000 Normal gross profit percentage 45%
What is the estimated ending inventory? A) $65,000
B) $85,000
C) $80,000
D) $105,000

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