accounting 447441

A response with a short explanation is required to recieve the points. These questions are multiple choice, I will leave this up here for awhile

1.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 2889 for December’s utilities was correctly written and drawn for $595, but was erroneously entered in the accounting records as $955. The journal entry to adjust the books for the bank reconciliation would include which of the following for this situation?

$955 increase to Cash

$50 increase to Cash and a $150 decrease to Utility Expense

$ 360 increase to Cash and a $ 360 decrease to Utility Expense

$ 360 decrease to Cash and a $ 360 decrease to Utility Expense

$50 decrease to Cash and a $50 decrease to Utility Expense

2.)
A company plans to decrease a $185 petty cash fund to $60. The current balance in the account includes $45 in receipts and $160 in currency. The entry to reduce the fund will include a:

	Credit to Petty Cash for $160
	Debit to Miscellaneous Expenses for $140
	Debit to Cash Short and Over for $15
	Debit to Cash for $100
	Credit to Cash for $100

3.) At the end of the day, the cash register’s record shows $1,350, but the count of cash in the cash register is $1,130. The correct entry to record the cash sales for the day is:

Cash	220
Sales		220

Cash	1,350
Sales		1,350

Cash	1,130
Cash over and short	220
Sales		1,350

Cash	1,130
Sales		1,130

Cash	1,350
Sales		1,130
Cash over and short		220

4.) In comparing the canceled checks on the bank statement with the entries in the accounting records, it is found that check number 4234 for April’s rent was correctly written and drawn for $3,505 but was erroneously entered in the accounting records as $7,300. When preparing the April bank statement, the company should:

	Add $3,795 to the book balance of cash
	Deduct $3,795 from the book balance of cash
	Add $7,300 to the book balance of cash
	Add $3,895 to the bank statement balance
	Deduct $3,795 from the bank statement balance

5.)
Triple Company’s accountant made an entry that included the following items: debit postage expense $12.47; debit office supplies expense $27.38, credit to cash over/short $2.24. If the original amount in petty cash is $320, how much was the credit to cash for the reimbursement?

	$39.85
	$42.09
	$282.39
	$37.61
	$320.00

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