Question 1
2 out of 2 points
Correct
A company made a bank deposit on September 30 that did not
appear on the bank statement dated September 30. In preparing the September 30
bank reconciliation, the company should:
deduct the deposit from the bank statement balance.
send the bank a debit memorandum.
deduct the deposit from the September 30 book balance and
add it to the October 1 book balance.
add the deposit to the end cash balance per bank statement.
Question 2
2 out of 2 points
Correct
A company made a bank deposit on September 30 that did not
appear on the bank statement dated September 30. In preparing the September 30
bank reconciliation, the company should:
deduct the deposit from the bank statement balance.
send the bank a debit memorandum.
deduct the deposit from the September 30 book balance and
add it to the October 1 book balance.
add the deposit to the end cash balance per bank statement.
Question 3
0 out of 2 points
Incorrect
What journal entry must be prepared when the company is
notified by the bank that a customer’s check that had been deposited in the
amount of $776 was returned NSF?
Selected Answer:
Debit Accounts Receivable and credit Cash in the amount of
$776.
Debit Cash and credit Accounts Receivable in the amount of
$776.
Debit NSF Check Expense and credit Accounts Receivable in
the amount of $776.
No journal entry is necessary.
Question 4
2 out of 2 points
Correct
Outstanding checks refer to checks that have been:
written, recorded, sent to payees, and received and paid by
the bank.
written and not yet recorded in the company books.
written, recorded, sent to the payees, but not yet paid by
the bank.
paid by the bank.
Question 5
0 out of 2 points
Incorrect
The following information was available to the accountant of
Horton Company when preparing the monthly bank reconciliation:
The amount of cash that should appear on the balance sheet
following completion of the reconciliation and adjustment of the accounting
records is:
$660.
$640.
$620.
$305.
Question 6
0 out of 2 points
DigDug Corporation had outstanding checks totaling $5,400 on
its June bank reconciliation. In July, DigDug issued checks totaling $38,900.
The July bank statement shows that $26,300 in checks cleared the bank in July.
The amount of outstanding checks on DigDug’s July bank reconciliation should
be:
$12,600.
$18,000.
$5,400.
$7,200.
Question 1
2 out of 2 points
Correct
A company made a bank deposit on September 30 that did not
appear on the bank statement dated September 30. In preparing the September 30
bank reconciliation, the company should:
deduct the deposit from the bank statement balance.
send the bank a debit memorandum.
deduct the deposit from the September 30 book balance and
add it to the October 1 book balance.
add the deposit to the end cash balance per bank statement.
Question 2
2 out of 2 points
Correct
A company made a bank deposit on September 30 that did not
appear on the bank statement dated September 30. In preparing the September 30
bank reconciliation, the company should:
deduct the deposit from the bank statement balance.
send the bank a debit memorandum.
deduct the deposit from the September 30 book balance and
add it to the October 1 book balance.
add the deposit to the end cash balance per bank statement.
Question 3
0 out of 2 points
Incorrect
What journal entry must be prepared when the company is
notified by the bank that a customer’s check that had been deposited in the
amount of $776 was returned NSF?
Selected Answer:
Debit Accounts Receivable and credit Cash in the amount of
$776.
Debit Cash and credit Accounts Receivable in the amount of
$776.
Debit NSF Check Expense and credit Accounts Receivable in
the amount of $776.
No journal entry is necessary.
Question 4
2 out of 2 points
Correct
Outstanding checks refer to checks that have been:
written, recorded, sent to payees, and received and paid by
the bank.
written and not yet recorded in the company books.
written, recorded, sent to the payees, but not yet paid by
the bank.
paid by the bank.
Question 5
0 out of 2 points
Incorrect
The following information was available to the accountant of
Horton Company when preparing the monthly bank reconciliation:
The amount of cash that should appear on the balance sheet
following completion of the reconciliation and adjustment of the accounting
records is:
$660.
$640.
$620.
$305.
Question 6
0 out of 2 points
DigDug Corporation had outstanding checks totaling $5,400 on
its June bank reconciliation. In July, DigDug issued checks totaling $38,900.
The July bank statement shows that $26,300 in checks cleared the bank in July.
The amount of outstanding checks on DigDug’s July bank reconciliation should
be:
$12,600.
$18,000.
$5,400.
$7,200.
Question 1
2 out of 2 points
Correct
A company made a bank deposit on September 30 that did not
appear on the bank statement dated September 30. In preparing the September 30
bank reconciliation, the company should:
deduct the deposit from the bank statement balance.
send the bank a debit memorandum.
deduct the deposit from the September 30 book balance and
add it to the October 1 book balance.
add the deposit to the end cash balance per bank statement.
Question 2
2 out of 2 points
Correct
A company made a bank deposit on September 30 that did not
appear on the bank statement dated September 30. In preparing the September 30
bank reconciliation, the company should:
deduct the deposit from the bank statement balance.
send the bank a debit memorandum.
deduct the deposit from the September 30 book balance and
add it to the October 1 book balance.
add the deposit to the end cash balance per bank statement.
Question 3
0 out of 2 points
Incorrect
What journal entry must be prepared when the company is
notified by the bank that a customer’s check that had been deposited in the
amount of $776 was returned NSF?
Selected Answer:
Debit Accounts Receivable and credit Cash in the amount of
$776.
Debit Cash and credit Accounts Receivable in the amount of
$776.
Debit NSF Check Expense and credit Accounts Receivable in
the amount of $776.
No journal entry is necessary.
Question 4
2 out of 2 points
Correct
Outstanding checks refer to checks that have been:
written, recorded, sent to payees, and received and paid by
the bank.
written and not yet recorded in the company books.
written, recorded, sent to the payees, but not yet paid by
the bank.
paid by the bank.
Question 5
0 out of 2 points
Incorrect
The following information was available to the accountant of
Horton Company when preparing the monthly bank reconciliation:
The amount of cash that should appear on the balance sheet
following completion of the reconciliation and adjustment of the accounting
records is:
$660.
$640.
$620.
$305.
Question 6
0 out of 2 points
DigDug Corporation had outstanding checks totaling $5,400 on
its June bank reconciliation. In July, DigDug issued checks totaling $38,900.
The July bank statement shows that $26,300 in checks cleared the bank in July.
The amount of outstanding checks on DigDug’s July bank reconciliation should
be:
$12,600.
$18,000.
$5,400.
$7,200.
Question 1
2 out of 2 points
Correct
A company made a bank deposit on September 30 that did not
appear on the bank statement dated September 30. In preparing the September 30
bank reconciliation, the company should:
deduct the deposit from the bank statement balance.
send the bank a debit memorandum.
deduct the deposit from the September 30 book balance and
add it to the October 1 book balance.
add the deposit to the end cash balance per bank statement.
Question 2
2 out of 2 points
Correct
A company made a bank deposit on September 30 that did not
appear on the bank statement dated September 30. In preparing the September 30
bank reconciliation, the company should:
deduct the deposit from the bank statement balance.
send the bank a debit memorandum.
deduct the deposit from the September 30 book balance and
add it to the October 1 book balance.
add the deposit to the end cash balance per bank statement.
Question 3
0 out of 2 points
Incorrect
What journal entry must be prepared when the company is
notified by the bank that a customer’s check that had been deposited in the
amount of $776 was returned NSF?
Selected Answer:
Debit Accounts Receivable and credit Cash in the amount of
$776.
Debit Cash and credit Accounts Receivable in the amount of
$776.
Debit NSF Check Expense and credit Accounts Receivable in
the amount of $776.
No journal entry is necessary.
Question 4
2 out of 2 points
Correct
Outstanding checks refer to checks that have been:
written, recorded, sent to payees, and received and paid by
the bank.
written and not yet recorded in the company books.
written, recorded, sent to the payees, but not yet paid by
the bank.
paid by the bank.
Question 5
0 out of 2 points
Incorrect
The following information was available to the accountant of
Horton Company when preparing the monthly bank reconciliation:
The amount of cash that should appear on the balance sheet
following completion of the reconciliation and adjustment of the accounting
records is:
$660.
$640.
$620.
$305.
Question 6
0 out of 2 points
DigDug Corporation had outstanding checks totaling $5,400 on
its June bank reconciliation. In July, DigDug issued checks totaling $38,900.
The July bank statement shows that $26,300 in checks cleared the bank in July.
The amount of outstanding checks on DigDug’s July bank reconciliation should
be:
$12,600.
$18,000.
$5,400.
$7,200.
