111.The debit recorded in the journal to reimburse the petty cash fund is to
a.Petty Cash
b.Accounts Receivable
c.Cash
d.various accounts for which the petty cash was disbursed
112.A $200 petty cash fund has cash of $20 and receipts of $177. The journal entry to replenish the account wouldinclude a credit to
a.Cash for $20
b.Cash Over and Short for $3
c.Petty Cash for $190
d.Cash for $180
113.Cash equivalents include
a.checks
b.coins and currency
c.money market accounts and commercial paper
d.stocks and short-term bonds
114.Cash equivalents
a.are illegal in some states
b.will be converted to cash within two years
c.will be converted to cash within 90 days
d.will be converted to cash within 120 days
115.A minimum cash balance required by a bank is called
a.cash in bank
b.a cash equivalent
c.a compensating balance
d.an EFT
ACCT.ACBSP.APC.15 - Current Assets ReportingACCT.AICPA.FN.03 - Measurement
116.Which of the following would
notbe included with the cash and cash equivalents on the balance sheet?
a.commercial paper
b.short-term receivables
c.certificates of deposit
d.money market mutual funds
117.Pilger Corporation has cash on hand at year-end of $201,000 and a negative cash flow from operations of $144,000.What is the ratio of cash to monthly cash expenses?
a.12.0 months
b.7.2 months
c.1.4 months
d.16.8 months
118.During the year, Tempo Inc. has monthly cash expenses of $115,000. On December 31, its cash balance is$1,437,500. The ratio of cash to monthly cash expenses is
a. 8.0
b. 12.5
c. 87.5
d. 11.5