1- Hill Company established a petty cash fund of? $500. Thefirst transaction was the purchase of stamps for? $46. Which of thefollowing statements is? CORRECT?
A.
The amount of cash on hand and the cash voucher should bemaintained in a cash box or other secure device.
B.
The amount of cash on hand should equal? $454.
C.
The petty cash custodian prepares a petty cash voucher to listthe item purchased.
D.
All of the statements are correct.
2-In a bank? reconciliation, a NSF check? is:
A.
added to the bank balance.
B.
added to the book balance.
C.
subtracted from the book balance.
D.
subtracted from the bank balance.
3-The following accounts and balances are taken from Moore?Company's adjusted trial? balance:
Accounts Payable
?$12,000
Accounts Receivable
2900
Accumulated Depreciation
1500
Depreciation Expense
1100
Dividends
2400
Insurance Expense
2600
Interest Revenue
1140
Prepaid Insurance
2020
Retained Earnings
?10,600
Salary Expense
?22,100
Service Revenue
?37,800
What is the ending balance in Retained Earnings after theclosing entries are? completed?
A.
?$10,740
B.
?$21,340
C.
?$38,940
D.
?$13,140
1- Hill Company established a petty cash fund of? $500. Thefirst transaction was the purchase of stamps for? $46. Which of thefollowing statements is? CORRECT?
A.
The amount of cash on hand and the cash voucher should bemaintained in a cash box or other secure device.
B.
The amount of cash on hand should equal? $454.
C.
The petty cash custodian prepares a petty cash voucher to listthe item purchased.
D.
All of the statements are correct.
2-In a bank? reconciliation, a NSF check? is:
A.
added to the bank balance.
B.
added to the book balance.
C.
subtracted from the book balance.
D.
subtracted from the bank balance.
3-The following accounts and balances are taken from Moore?Company's adjusted trial? balance:
Accounts Payable | ?$12,000 |
Accounts Receivable | 2900 |
Accumulated Depreciation | 1500 |
Depreciation Expense | 1100 |
Dividends | 2400 |
Insurance Expense | 2600 |
Interest Revenue | 1140 |
Prepaid Insurance | 2020 |
Retained Earnings | ?10,600 |
Salary Expense | ?22,100 |
Service Revenue | ?37,800 |
What is the ending balance in Retained Earnings after theclosing entries are? completed?
A.
?$10,740
B.
?$21,340
C.
?$38,940
D.
?$13,140