In what accounts should the following be classified: U.S. Treasury bills (45 days to maturity) — NSF check — Restricted cash — Travel advances — Petty cash Compensating balance—
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- In what accounts should the following be classified:
- U.S. Treasury bills (45 days to maturity) —
- NSF check —
- Restricted cash —
- Travel advances —
- Petty cash
- Compensating balance—
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- In what accounts should the following items be classified? a. Coins and currency. b. U.S. Treasury (government) bonds. c. Certificate of deposit (matures in 5 months). d. Cash in a bank that is in receivership. e. NSF check (returned with bank statement). f. Deposit in foreign bank (exchangeability limited). g. Postdated checks. h. Cash to be used for retirement of long-term bonds. i. Deposits in transit. j. 100 shares of HP stock (intention is to sell in one year or less). k. Savings and checking accounts. l. Petty cash. m. Stamps. n. Travel advances.Which one of the following is classified as a cash or cash equivalent? Select one: a. Prepaid insurance b. Restricted bank account that cannot be used for operations c. Bank overdraft d. Government debt investment with 30 days to maturity e. Post-dated cheque19. A bank deducted OMR 50 from the customer’s account as a bank charge and customer noticed this only on the receipt of bank statements. How to reconcile this item in the bank reconciliation statement? a. Deduct from the bank statement balance b. Add to the bank statement balance c. Deduct from the cash book balance d. Add to the cash book balance
- As on 31 May 2005 the deposits awaiting clearance is RO18,240 and cheques yet to be presented for payment is RO21,590; while the bank balance as recorded in the Cash book was RO9,480. How much should be the bank balance as on 31 May 2005 as per bank statement? a. RO 12830 b. RO 6130 c. RO 12830 overdraft d. RO 6130 OverdraftWhich of the following entries would be required to account for a reimbursement to the petty cash float of $125 from the bank account?As on 31 May 2020 the deposits awaiting clearance is RO15,240 and cheques yet to be presented for payment is RO17,590; while the bank balance as recorded in the Cash book was RO 5,480. How much should be the bank balance as on 31 May 2020 as per bank statement? a. RO 6130 b. RO 6130 Overdraft c. RO 7830 d. RO 7830 overdraft -fast-
- Which of the following is true of a petty cash voucher? a.It must be issued once in a month by a bank. b.It must explain the purpose of the payment. c.It must only be used to account for payments of more than $5. d.It must be signed only by the person who authorized the payment.The following items may appear on a bank statement: Bank correction of an error from recording a $3,200 deposit as $2,300 EFT payment Note collected for company Service charge Using the format shown below, 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 balance of the company’s account.Which of the following is not one fo the examples of cash equivalent? a. a bank certificate of deposit maturing within 60 days of the reporting date. b. a newly issued corporate bond. c. a US Treasury Bill d. commerial paper
- Which of the following is considered cash? a. Thirty-day certificate of deposits b. Customer’s post-dated checks c. Six-month money market savings certificates d. Money market checking accounts6. Bank statements provide information about all of the following, except Group of answer choices bank charges for the period NSF checks errors made by the depositor checks cleared during the periodThe following items will result in a difference between the balances in the bank statement and the cash book except Interest charges Standing order O Dishonoured cheque Outstanding cheque
