101. Which of the following items that appeared on the bank reconciliation did not require an adjusting entry?
A. bank service charges
B. deposits in transit
C. NSF checks
D. A check for $630, recorded in the check register for $360.
102. What entry is required in the company's accounts to record outstanding checks?
A. debit Accounts Receivable; credit Cash
B. debit Cash; credit Accounts Receivable
C. debit Cash; credit Accounts Payable
D. none
103. Accompanying the bank statement was a debit memo for an NSF check received from a customer. This item would be included on the bank reconciliation as a(n)
A. deduction from the balance per company's records
B. addition to the balance per bank statement
C. deduction from the balance per bank statement
D. addition to the balance per company's records
104. Accompanying the bank statement was a debit memo for an NSF check received from a customer. What entry is required in the company's accounts?
A. debit Other Income; credit Cash
B. debit Cash; credit Other Income
C. debit Cash; credit Accounts Receivable
D. debit Accounts Receivable; credit Cash
105. The amount of cash to be reported on the balance sheet at June 30 is the
A. total of the cash column in the cash receipts journal as of June 30
B. adjusted balance appearing in the bank reconciliation for June 30
C. total of the cash column in the cash payments journal as of June 30
D. balance as of June 30 on the bank statement
106. Which of the following would be deducted from the balance per books on a bank reconciliation?
A. Service charges
B. Outstanding checks
C. Deposits in transit
D. Notes collected by the bank
107. Which of the following would be added to the balance per books on a bank reconciliation?
A. Service charges
B. Outstanding checks
C. Deposits in transit
D. Notes collected by the bank
108. Which of the following would be subtracted from the balance per books on a bank reconciliation?
A. Outstanding checks
B. Deposits in transit
C. Notes collected by the bank
D. Service charges
109. Which of the following would be subtracted from the balance per bank on a bank reconciliation?
A. Outstanding checks
B. Deposits in transit
C. Notes collected by the bank
D. Service charges
110. A bank reconciliation should be prepared
A. whenever the bank refuses to lend the company money.
B. to explain any difference between the company's balance per books with the balance per bank.
C. when an employee is suspected of fraud.
D. by the person who is authorized to sign checks.