You are watching: The ratio of cash to monthly cash expenses is calculated as
a. 11explanation: Monthly Cash Expenses = Negative Cash Flow / 12Ratio of Cash to Monthly Cash Expenses = Cash as of Year-End / Monthly Cash Expenses Solve:Monthly Cash Expenses | 540 / 12 = 45Ratio of Cash to Monthly Cash Expenses | 495 / 45 = 11.0
Grace Company type of gathered the following reconciling information in preparing its July financial institution reconciliation:Cash balance per books, 7/31 $4,500Deposits in transit 150Notes receivable and interemainder accumulated by financial institution 850Bank charge for inspect printing 20Outstanding checks 2,000NSF inspect 170The changed cash balance per the publications on July 31 is a. $5,010.b. $3,460.c. $5,160.d. $3,310.
Which of the adhering to would appear as a credit memorandum on the bank statement?a. EFT depositb. Bank correction of an error from recording a $300 examine phelp as $30c. NSF checkd. Service charge
A $100 petty cash fund has actually cash of $20 and receipts of $82. The journal enattempt to replenish the account would incorporate aa. delittle bit to Cash for $80.b. credit to Cash for $82.c. crmodify to Petty Cash for $82.d. credit to Cash Short and Over for $2.
If the very same perkid orders offers, verifies receipt of the offers and also pays the supplier, which of the following is a feasible negative result?a. The quantity and high quality of gives obtained might not be confirmed, thus resulting in the company to pay for offers not received or for poor-quality gives.b. Supplies might be stolen by employees.c. Orders may be inserted on the basis of friendship quite than on price, quality, and also amount of gives.d. All of these choices are correct.
Monthly cash costs area. approximated from the Financing section of the cash flow statement.b. approximated from the Investing section of the cash circulation statement.c. referred to as cash burn.d. Namong these options are correct.
Which of the complying with is not a factor that Congress passed the Sarbanes-Oxley Act of 2002?a. To require companies to maintain solid and also efficient inner controls over the recording of financial transactionsb. To regulate private companiesc. To answer the public outcry concerned the financial scandals of the early on 2000sd. To call for service providers to maintain solid and also efficient internal controls over the preparation of financial statements
Cash is commonly listeda. last in the Current Assets area of the balance sheet.b. first in the Current Assets area of the balance sheet.c. first in the Investment section of the balance sheet.d. on the revenue statement.
The agency section of the bank reconciliationa. ends through the readjusted balance.b. deducts delittle bit memos that have actually not been taped.c. starts via the cash balance according to the firm records.d. All of these choices are correct.
Palm Company type of gathered the complying with reconciling indevelopment in preparing its April financial institution reconciliation:Cash balance per publications, 4/30 $4,300Deposits in transit 150Notes receivable and interemainder collected by financial institution 850Bank charge for check printing 20Outstanding checks 2,000NSF check 170The readjusted cash balance per the books on April 30 isa. $4,960.b. $2,450.c. $3,110.d. $2,280.
The petty cash money isa. establiburned by estimating payments essential.b. a special cash fund.c. used to pay tiny amounts that occur often.d. All of these options are correct.
Given the following indevelopment for the year finished December 31, what is the proportion of cash to monthly cash expenses?Negative cash flow from operations $(450)Cash and also cash equivalents as of year-finish 375a. 10.0b. 12.0c. 14.4d. None of these choices are correct.
Which of the adhering to is not true concerning the Internal Control—Incorporated Framework?a. The framework is the commonly accepted conventional by which carriers style inner controls.b. It is frequently the basis of a conversation of inner controls.c. It was issued by the FASB.d. The framework is the extensively welcomed standard whereby carriers analyze and also evaluate inner controls.
Which of the complying with is not an inner manage task for cash?a. All cash receipts need to be appropriately recorded according to the amount and also reason.b. Bank accounts should be reconciled at least monthly.c. The number of persons who have access to cash have to be limited.d. The attributes of cash record maintaining and also cash custody should be combined.
The crmodify tape-recorded in the journal to reimburse the petty cash fund is toa. Accounts Receivable.b. various accounts for which the petty cash was disbursed.c. Petty Cash.d. Cash.
The crmodify balance in Cash Short and Over at the finish of an bookkeeping period is reported asa. an price on the income statement.b. an ascollection on the balance sheet.c. earnings on the income statement.d. a licapacity on the balance sheet.
A bank correction of an error from recording a $50 inspect passist as $500 appears on the financial institution statement as aa. credit memorandum that increases the account balance.b. crmodify memorandum that decreases the account balance.c. delittle memorandum that increases the account balance.d. debit memorandum that decreases the account balance.
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A $100 petty cash money consists of $91 in petty cash receipts and also $11 in money and coins. The journal entry to document the replenishment of the fund would certainly encompass aa. credit to Cash for $91.b. delittle bit to Cash Quick and also Over for $2.c. credit to Petty Cash for $91.d. crmodify to Cash Quick and Over for $2.