Unit 6

Question 1

Adjusting entries are recorded for the reconciling items on the

Answer 1

book side

Question 2

current asset on the balance sheet; normal debit balance; Includes
currency, coins, checks, and deposits in bank accounts.

Answer 2

Cash Account

Question 3

The balance of a checking account reported on
the bank statement rarely equals the balance in the depositor’s accounting records

Answer 3

Bank Reconvciliation

Question 4

Entry To record cash overage
Cash in register is more than cash record

Answer 4

Cash /debit
Cash over and Short /Credit
Sales / Credit

Question 5

Entry to record cash under
Cash in registar is less than cash record

Answer 5

Cash/ Debit
Cash over and short/ Debit
Sales /Credit

Question 6

+Deposits in Transit
-Outstanding Checks
Banks Errors

Answer 6

Bank balance adjustments

Question 7

+Interest earned and unrecorded cash reciepts
_Banks fees and NSF checks

Answer 7

Book balance

Question 8

Days Sales uncollected

Answer 8

acct recievable/net sales *365