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    Cash and Cash Equivlents, BNK Recon

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    Cash and Cash Equivlents, BNK Recon

    Uploaded by

    chezyl cadinong
    10 views4 pages

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    (Cash and Cash Equivlents, Bnk Recon)

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    © © All Rights Reserved

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    10 views4 pages

    Cash and Cash Equivlents, BNK Recon

    Uploaded by

    chezyl cadinong

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    CHAPTER 1: Cash and Cash Equivalent

    Page 26-33

    Problem 1-10
    ANSWER: C. (4,600,000)
    Problem 1-17
    ANSWER: D. (8,050,000)
    Problem 1-11
    ANSWER: D. (6,450,000)
    Problem 1-18
    ANSWERS: 1.) B. 7,440,000
    Problem 1-12
    2.) C. 5,500,000
    ANSWER: A. (4,500,000)
    Problem 1-19
    Problem 1-13
    ANSWERS: 1.) A. 3,400,000
    ANSWER: A. (6,940,000)
    2.) A. 3,500,000
    Problem 1-14 Problem 1-20
    ANSWER: B. (9,150,000)
    ANSWERS: C. 37,000
    Problem 1-15 Problem 1-21
    ANSWER: C. (2,375,000)
    ANSWER: C. 6,000
    Problem 1-16 Problem 1-22
    ANSWER: B. (5,150,000)
    ANSWERS: 1.) B. 4,200,000
    2.) A. 4,645,000

    Problem 1-23 | multiple choice


    Page 34-35
    1.) D. (IOU) 7.) B. (NONCURRENT ASSET WITH
    2.) B. (CHECKING ACCOUNT) APPROPRIATE DISCLOSURE)

    3.) A. (TRAVEL CASH ADVANCE) 8.) D. (MINIMUM DEPOSIT REQUIRED TO BE


    4.) B. (MONEY MARKET INSTRUMENT) MAINTAINED IN CONNECTION WITH A
    BORROWING ARRANGEMENT)
    5.) D. (ALL OF THESE STATEMENTS ARE
    TRUE ABOUT OVERDRAFT) 9.) A. (FUND IN A BANK ACCOUNT THAT
    CANNOT BE SPENT)
    6.) C. (RESTRICTED CASH)
    10.) C. (WHICH LEGALLY RESTRICTED AND
    RELATED TO A SHORT-TERM LOAN IS
    CLASSIFIED SEPARATELY AS CURRENT
    ASSET)

    Problem 1-24 | multiple choice


    Page 36

    1.) D. (IS SO NEAR MATURITY THAT IT 3.) C. (EQUITY INVESTMENTS)


    PRESENTS INSINIFICANT RISK OF 4.) B. (HIGH GRADE MARKETABLE EQUITY
    CHANGE IN INTEREST) INVESTMENTS)
    2.) A. (FROM THE DATE THE INVESTMENTS 5.) D. (ALL OF THESE ARE FEATURES CASH
    ARE ACQUIRED EQUIVALENTS

    Problem 1-25 | multiple choice


    Page 37
    1.) D. (IMPREST SYSTEM) 4.) C. (IS DEBITED WHEN THE PETTY

    2.) D. (TO EFFECTIVELY CONTROL CASH FUND PROVES OUT SHORT)

    CASH DISBURSEMENT) 5.) B. (MONEY KEPT ON HAND FOR

    3.) C. (WHEN THE FUND IS CREATED MAKING MINOR DISBURSEMENTS

    AND WHEN THE SIZE OF THE FUND OF COIN AND CURRENCY RATHER

    IS INCREASED) THAN BY WRITING CHECKS)

    Chapter 2 | Bank Reconciliation


    Page 68-74 Problem 2-11
    ANSWER: A. 1,500,000
    Problem 2-1O
    ANSWER: A. 1,855,000 Problem 2-12
    ANSWER: B. 3,660,000 ANSWERS: 1.) C. 9,000,000

    Problem 2-13 2.) C. NET DEBIT 500,000

    ANSWER: B. 1,530,000 Problem 2-17

    Problem 2-14 ANSWERS: 1.) A. 2,120,000

    2.) B. 3,070,000
    ANSWER: A. 900,000

    Problem 2-18
    Problem 2-15
    ANSWERS: 1.) A. 7,750,000
    ANSWER: A. 2,500,000
    2.) A. 7,070,000

    3.) A. 8, 700,000

    Problem 2-19
    ANSWERS: 1.) A. 700,000

    Problem 2-16 2.) B. 920,000

    3.) C. 990,000

    Problem 2-20 | multiple choice


    Page 75-77 STATEMENT AND THE CASH BALANCE
    1.) D. (A SCHEDULE THAT ACCOUNTS FOR SHOWN ON THE GENERAL LEDGER)
    THE DIFFERENCES BETWEEN CASH 2.) A. (NOTE RECEIVABLE COLLECTED BY
    BALANCE SHOWN ON THE BANK BANK IN FAVOR OF THE DEPOSIT AND
    CREDITED TO THE ACCOUNT OF THE 8.) D. (ERRORS MADE BY THE DEPOSITOR)

    DEPOSIT) 9.) C. (A CERTIFIED CHECK IN ONE DRAWN


    3.) C. (DEPOSIT IN TRANSIT) BY A BANK UPON ITSELF

    4.) B. (OUTSTANDING CHECK) 10). A. (BANK SERVICE CHARGE WILL

    5.) C. (DEPOSIT TRANSITS) CAUSE THE CASH BALANCE PER LEDGER TO

    6.) A. (DEPOSITS CREDITED BY THE BANK BE HIGHER THAN THAT REPORTED BY THE

    BUT NOT YET RECORDED BY THE BANK, ALL OTHER THINGS BEING EQUAL

    DEPOSITOR)

    7.) B. (ALL TIMES EXCEPT BANK ERRORS,

    OUTSTADING CHECKS AND DEPOSIT

    TRANSIT)

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