TB MC Qu. 06-146 (Static)

Meng Company maintains a... Meng Company maintains a $300 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $80 for office supplies, $160 for merchandise inventory, and $20 for miscellaneous expenses. There is a cash shortage of $8. Based on this information, the amount of cash in the fund before the replenishment is:

Multiple Choice

$300.

$260.

$40.

$48.

$32.

TB MC Qu. 06-138 (Static) Franklin Company deposits...

Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on August 31, its Cash account shows a debit balance of $13,162. Franklin's August bank statement shows a $14,237 balance in the bank. Determine the adjusted cash balance using the following information:

Deposit in transit	$ 4,500
Outstanding checks	$ 3,900
Bank service fees, not yet recorded by company	$ 50
The bank collected on a note receivable, not yet recorded by the company	$ 1,725

The adjusted cash balance should be:

Multiple Choice

• $18,737

• $10,337

• $14,887

• $13,112

• $14,837