Which of the following item would cause cash per the hank statement to be smaller than the balance of cash show in the accounting Check #777 written by the company in payment of a debt for $730.10 a recorded by the bank as $701.30 Deposits in transit Interest earned on the average balance of the checking accounted Outstanding checks All of the above would cause the balance per bank statement to be greater than the balance per books. If net tales arc $420,000 and the gross profit rate is 40%, w hat a the gross profit? The physical count of Rosanna Company inventory had a cost of $3, 500 at the end of the fiscal year The unadjusted balance in Inventory on the same date was $3, 800 Rosanna will make which of the following entries at year end? A debit to Inventory for $300 and a credit to Cost of Goods Sold for $300 A debit to Income Summary for $300 and a credit to Inventory for $300 A debit to Cost of Goods Sold for $300 and a credit to Inventory for $300 A debit to Cost of Goods Sold for $3, 500 and a credit to Inventory for $3, 500 None of the above In a period of increasing prices, which inventory flow assumption will result in the lowest amount of tax expense? Average Cost FIFO LIFO All of the above None of the above. When of the following would appear on the income statement of both a merchandising company and a service company? Coat of goods sold Gross profit Operating expensed Sales revenue None of the above 34. After preparing a bank reconciliation, which one of these situations would require a journal entry on your company's books' Interest earned on the company's checking account A deposit made by another company with a similar name and credited to your company's account. A deposit in transit A check for $63 given to a supplier but not yet recorded by the Company's bank All of the above