Question 1 in preparing a bank reconciliation, outstanding checks are

Question 1 

In preparing a bank reconciliation, outstanding checks are


deducted from the balance per bank. 

added to the balance per bank. 

deducted from the balance per books. 

added to the balance per books.


Question 2 

Which one of the following would not cause a bank to debit a depositor’s account?


Bank service charge 

Checks marked NSF 

Wiring of funds to other locations 

Collection of a note receivable


Question 3 

Rebekah Grace has worked for Specoly Inc., for 20 years without taking a vacation. An internal control feature that would address this situation would be


documentation procedures. 

establishment of responsibility. 

physical controls. 

other controls.


Question 4 

An example of poor internal control is


The custodian of an asset should not maintain or have access to the accounting records.

The accountant should not have physical custody of the asset nor access to it. 

One person should be responsible for handling related transactions. 

A salesperson makes the sale, and a different person ships the goods.


Question 5 

Jolene is warehouse custodian and also maintains the accounting record of the inventory held at the warehouse.  An assessment of this situation indicates


documentation procedures are violated. 

independent internal verification is violated. 

segregation of duties is violated. 

establishment of responsibility is violated.


Question 6 

At June 30, Yaddof Company has the following bank information: cash balance per bank $1,800; outstanding checks $340; deposits in transit $275; credit memo for interest $75; bank service charge $10. What is Mareska’s adjusted cash balance on June 30?







Question 7 

In the month of November, Kinsey Company Inc. wrote checks in the amount of $27,750. In December, checks in the amount of $37,974 were written. In November, $25,404 of these checks were presented to the bank for payment, and $32,649 were presented in December. What is the amount of outstanding checks at the end of December?







Question 8 

A petty cash fund of $100 is replenished when the fund contains $4 in cash and receipts for $93. The entry to replenish the fund would


credit Cash Over and Short for $3. 

debit Miscellaneous Expense for $3. 

credit Miscellaneous Revenue for $3. 

debit Cash Over and Short for $3.      


Question 9 

Winter Gloves Company had checks outstanding totaling $12,800 on its May bank reconciliation. In June, Winter Gloves Company issued checks totaling $79,800. The July bank statement shows that $71,400 in checks cleared the bank in July. A check from one of Winter Gloves Company’s customers in the amount of $2,000 was also returned marked “NSF.” The amount of outstanding checks on Winter Gloves Company’s July bank reconciliation should be







Question 10 

Electric Sunset Company gathered the following reconciling information in preparing its July bank reconciliation:


Cash balance per books, 7/31$22,000

Deposits in transit1,200

Notes receivable and interest collected by bank4,400

Bank charge for check printing80

Outstanding checks8,000

NSF check680


The adjusted cash balance per books on July 31 is







Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10