Answered: 9. is an example of the first line…

9. is an example of the first line defense against customer demand on deposit O trading account asset treasury bills since hey are easy to converted to cash federal fund sold O un-collected checks

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 16MC: Which of the following are found on the bank side of the bank reconciliation? A. NSF check B....

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

9.
is an example of the first line defense against customer demand on deposit
trading account asset
treasury bills since hey are easy to converted to cash
federal fund sold
O un-collected checks
loons 674 other

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2. When preparing a bank reconciliation, a not sufficient funds (NSF) check is
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Could you please explain to me how the cash balances are calculated???? Pro Forma Cash Flow Cash Received Cash from Operations Cash Sales $24,198 $100,099 $122,460 Cash from Receivables $46,108 $217,218 $342,905 Subtotal Cash from Operations $70,306 $317,317 $465,366 Additional Cash Received Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $40,000 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $0 $0 $0 Subtotal Cash Received $70,306 $357,317 $465,366 Expenditures Year 1 Year 2 Year 3 Expenditures from Operations Cash Spending $167,000 $225,200 $229,200 Bill Payments $75,294 $124,114 $152,785 Subtotal Spent on Operations $242,294 $349,314 $381,985 Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out $0 $0 $0…
10.The following are reconciling items in an enterprise's bank reconciliation statement.I. Deposit in transitII. Company check for P32,500 recorded in the books for P23,500III. Check of another company erroneously charged by bank in the company's accountIV. Deposit of another company erroneously credited by bank to the company's accountV. Bank service chargesVI. No sufficient fund check charged back by the bankVII. Company deposit for P32,500 recorded in the books for P23,500Which of the foregoing adjustments would be shown as deduction from the cash balance per books in order to arrive at the correct cash balance? a.II, IV, V, VI and VII b.II, V, VI and VII c.II, V and VI d.V, VI and VII