Accounting

6a) A check returned by the bank marked “NSF” means    a. no service fee.   b.   no signature found.   c. not satisfactorily filled-out.  d.   not sufficient funds.

6b) If the month-end bank statement shows a balance of $58,000, outstanding checks are

Don't use plagiarized sources. Get Your Custom Essay on
Accounting
Just from $13/Page
Order Essay

$15,000, a deposit of $7,000 was in transit at month end, and a check for $600 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is

a. $49,400.
b. $50,600.
c. $65,400.
d. $66,600.

6c) If a check correctly written and paid by the bank for $724 is incorrectly recorded on the company's books for $742, the appropriate treatment on the bank reconciliation would be to   a. add $18 to the bank's balance.   b.   add $18 to the book's balance.   c. deduct $724 from the bank's balance   . d.   deduct $724 from the book's balance.   6d) A petty cash fund should not be used for   a. postage due.   b.   loans to the petty cash custodian.   c. taxi fares.

d.   customer lunches.

Place Order
Grab A 14% Discount on This Paper
Pages (550 words)
Approximate price: -
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Try it now!

Grab A 14% Discount on This Paper

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.