ACCT 2331 Chap 4 Problem Shells(1).docx - ACCT 2331 Chapter 4 Problem Shells BE4–7 Match each term associated with a bank reconciliation with its

ACCT 2331 Chap 4 Problem Shells(1).docx - ACCT 2331 Chapter...

This preview shows page 1 - 3 out of 10 pages.

ACCT 2331 Chapter 4 Problem Shells BE4–7 Match each term associated with a bank reconciliation with its description. Terms Descriptions 1. Checks outstanding D a. Cash receipts received by the company but not yet recorded by the bank. 2. NSF checks F b. Fees imposed by the bank to the company for providing routine services. 3. Company error C c. Checks written to the company that are returned by the bank as not having adequate funds. 4. Interest earned E d. Checks written by the company but not yet recorded by the bank. 5. Deposits outstanding A e. Money earned on the average daily balance of the checking account. 6. Bank service fees B f. The company recorded a deposit twice. E4–2 Below are several statements about the Sarbanes-Oxley Act (SOX). 1. SOX represents legislation passed in response to several accounting scandals in the early 2000s. 2. The requirements outlined in SOX apply only to those companies expected to have weak internal controls or to have manipulated financial statements in the past. 3. Section 404 of SOX requires both company management and
Image of page 1

Subscribe to view the full document.

auditors to document and assess the effectiveness of a company's internal control processes that could affect financial reporting.
Image of page 2
Image of page 3
  • Fall '08
  • Staff
  • Cheque, 1977

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes