WorksheetsIntermediate Acccounting - Cash and Cash Equivalent
Total questions: 13
Worksheet time: 13mins
Money in the form of bills or coins
debit card
cash
bank account
pocket change
procedures which are considered to be the most effective
best practices
cash controls
GAAP
IFS
place money in a bank
check
withdraw
IFT
deposit
take money out of a bank
withdraw
deposit
debit card
petty cash
How to record the adjustment entry for the Non Sufficient Fund stated in this bank reconciliation?
Debit Non sufficient fund, credit bank
Debit accounts receivable, credit bank
Debit accounts payable, credit bank
No adjustment entry needed
Which of the following items should not be recorded in the cash account?
Money Orders
Certificates of Deposits
Postage Stamps
Ordinary checks
Which of the following is a cash equivalent?
Certificates of deposit
Notes payable
Which of the following is not a “cash equivalent”?
Time deposits
Marketable securities
The following are the common controls over cash except...
Segregation of duties
Computerized control totals and edits tests
Perform an overall estimate of depreciation expense
Independent bank reconciliations by employees who do not handle cash
2,575,000.00
2,825,000.00
3,025,000.00
5,025,000.00
1,315,000.00
1,425,000.00
1,495,000.00
1,725,000.00
Define Cash.
Use for restricted use.
Readily available for unrestricted use.
It is a standard medium of exchange.
None
How is cash measured?
Fair value or face amount
Historical value
Face mask
Future value
