Cash and Cash Equivalents.docx - CASH AND CASH EQUIVALENTS 1 Which of the following will not require an adjusting entry on the depositor's books a Loan

Cash and Cash Equivalents.docx - CASH AND CASH EQUIVALENTS...

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CASH AND CASH EQUIVALENTS1.Which of the following will not require an adjusting entry on the depositor's books?a.Loan proceeds credited to the depositor's accountb.Deposit of another entity credited by the bank to the account of the depositorc.Collection from a customer amounting to P90,000 recorded by depositor as P900,000.d.DAIF check from a customerFinancial Accounting and Reporting - Cash and Cash Equivalents (Easy)2.In a statement of cash flows, interest payments to lenders and other creditors should be classified as cash outflows forFinancial Accounting and Reporting - Statement of Cash Flows (Easy)3.Preparing the statement of cash flows involves all of the following except determining theFinancial Accounting and Reporting - Statement of Cash Flows (Easy)4.LMN Company issued a note solely in exchange for cash. Assuming that the items below differ in amount the present value of note at issuance is equal to theFinancial Accounting and Reporting - Cash and Cash Equivalents (Easy)5.Petty cash fund isa.Money kept on hand for making minor disbursements of coins and currencyb.Set aside for the payment of payroll
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c.Separately classified as a current assetd.Restricted cashFinancial Accounting and Reporting - Cash and Cash Equivalents (Easy)6.Which one of the following term best describes the amount of cash or cash equivalents that could currently be obtained by selling an asset in an orderly disposal?Financial Accounting and Reporting - Cash and Cash Equivalents (Easy)7.Which of the following transactions will not be recognized in cash basis accounting?Financial Accounting and Reporting - Cash and Accrual Basis (Easy)
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