Activity 2

1.How would customer's NSF checks be dealt with in a bank reconciliation? a. added to company’s book balanceb. deducted from company’s book balancec. added to bank statement balanced. deducted from bank statement balance 2. Which one of the following documents is used in the control of cash receipts? a. Purchase requisitionsb. Receiving reportsc. Canceled checks from customersd. Bank deposit slips 3.The following set of items describes activities completed by a company in purchasing and paying for merchandise. For each activity, identify whether or not the activity adheres to or violates sound internal control procedures.All documents attached to an invoice approval form are canceled before a check is signed. a. Adheres to sound internal control proceduresb. Violates sound internal control proceduresc. Neither strengthens nor violates internal control 4.In the reconciliation of a bank statement, "deposits in transit" should be: a. added to the unadjusted book balanceb. subtracted from…

Which one of the following documents is used in the control of cash receipts?a. Purchase requisitionsb. Receiving reportsc. Canceled checks from customersd. Bank deposit slips

Please help which option is the correct one

#18

The bank reconciliation Select one: A. is sent to the bank for verification B. is for information purposes only C. should be prepared by an employee who records cash transactions D. is part of the internal control system

rlons to bas od A M5-4 Matching Cash Receipt Processes to Internal Control Principles Match each of the following cash receipt activities to the internal control principle to which it best relates. Enter the appropriate letter in the space provided. 1. A list of checks received in the mail is prepared. 2. Total cash receipts are compared to the amount on the bank deposit slip.ciep ingiz vinmouths enotazionidbem aningiz-doado sdT A. Establish responsibility B. Segregate duties C. Restrict access 2010 BM D. Document procedures E. Independently verify lood staoibal evneor 3. A password is required to open the cash register. 4. Price changes at the checkout require a manager's MS-15 (approval. nor bidde Laing 5. Cashiers are required to count the cash in their register at the beginning and end of each shift. are the journal mati prilibriode LO 5-2,5-3 201

multiple choice question When the petty cash imprest system is established:   the bank account is debited. the petty cash account is credited. the bank account is debited and the petty cash account is credited. 4.the bank account is credited and the petty cash account is debited

Question 4 of 20 Which type of source document is best for providing evidence of disbursements of funds from petty cash? A. A bank statement B. A lockbox check image C. A credit card receipt D. A supplier invoice SUBMIT E PREVIOUS % &

2. Which of the following items must be added to the cash balance per ledger in preparing a bank reconciliation which ends with the adjusted cash balance?    a. Note receivable collected by bank in favor of the depositor and credited to the account of the depositor b. NSF customer check c. Service charge d. Erroneous bank debit

The following items may appear on a bank statement: 1. Bank correction of an error from posting another customer's check (disbursement) to the company's account 2. EFT deposit 3. Loan proceeds 4. NSF check Using the following format, indicate whether each item would appear as a debit or credit memo on the bank statement and whether the item would increase or decrease the bal- ance of the company's account: Appears on the Bank Statement as a Debit or Credit Increases or Decreases the Balance of the Company's Bank Account Item No. Memo

An NSF check returned by the bank should be entered in the depositor's accounting records by a debit to:A. Accounts Receivable.B. An expense account.C. Cash.D. Cash Over and Short.