To determine the true cash balance Multiple Choice add bank collections of depositors' accounts receivable to the unadjusted book balance. subtract bank service charges from the unadjusted book balance. add interest earned from bank to the unadjusted book balance. All of the answers describe adjustments that must be made to the unadjusted book balance in order to determine the true cash balance. Kelly Company's unadjusted bank balance on May 31 is $9,500. An analysis of the bank statement revealed $1,400 of deposits in transit and $900 of outstanding checks. In addition, the bank statement showed a $200 NSF check. Based on this information, Kelly's true cash balance is Multiple Choice $9,000 $9,800 $10,000. $10,200. O O O Expenses are recognized Multiple Choice when a petty cash account is established. when an employee is reimbursed for expenses incurred on behalf of the business. when cash is collected from a customer. when the petty cash fund is replenished. Which of the following shows how disbursing funds from a petty cash fund will affect a company's financial statements? Multiple Choice Account Titles Debit Credit Petty Cash XXX Cash XXX Debit Credit Account Titles Miscellaneous Expenses XXX Cash XXX Account Titles Debit Credit Miscellaneous Expenses XXX Petty Cash XXX Journal entries are normally not made at the time of reimbursement. If an auditor has insufficient information to determine whether a company's statements are prepared in accordance with Generally Accepted Accounting Principles, the auditor should issue a(n) Multiple Choice unqualified opinion. qualified opinion. adverse opinion. disclaimer of opinion