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quiz 4&5 - Jump to Navigation Frame Your location...

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Jump to Navigation Frame Your location: Home Page Quizzes Quiz Chapters 6 & 7 Assessments View All Submissions View Attempt View Attempt 1 of 1 Title: Quiz Chapters 6 & 7 Started: September 19, 2009 5:17 PM Submitted: September 19, 2009 7:05 PM Time spent: 01:48:01 Total score: 50/100 = 50% Total score adjusted by 0.0 Maximum possible score: 100 1. Hamilton Company has cash in bank of $10,000, legally restricted cash in a separate account of $3,000, and a bank overdraft in an account at another bank of $1,000. Hamilton should report cash of Student Response Value Correct Answer Feedback 1. $9,000 2. $10,000 100% Legally restricted cash of $3,000 is not reported with "cash" and $1,000 overdraft must be presented as a current liability unless with the same bank -- which in this case it isn't the same bank. So answer is $10,000. 3. $12,000 4. $13,000 Score: 10/10 2.
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If a petty cash fund is established in the amount of $250, and contains $150 in cash and $100 in receipts for disbursements when it is replenished, the journal entry to record replenishment should include credits to the following accounts: Student Response Value Correct Answer Feedback 1. Petty Cash $75 2. Petty Cash $100 3. Cash $95; Cash over and Short $5 4. Cash $100 100% The credit would be to cash to use it to replenish the petty cash fund and the debit(s) would go to expense for amounts expended. Score: 10/10 3.
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In preparing its bank reconciliation for the month of April 2007, Gregg, Inc. has available the following information.
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