Term
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Definition
| 1. In Scenario 4.01 B, calculate the adjusted checkbook balance. (NCCTE.9_12.BE.6311.CA04.01) |
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Term
| Debit Miscellaneous Expense $4.50, Credit Cash $4.50 |
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Definition
| In Scenario 4.01 D, what is the journal entry to record the bank service charge? (NCCTE.9_12.BE.6311.CA04.01) |
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Term
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Definition
| In Scenario 4.01 H, calculate the adjusted bank balance. (NCCTE.9_12.BE.6311.CA04.01) |
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Term
| Debit Miscellaneous Expense $3.00; credit Cash $3.00 |
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Definition
| In Scenario 4.01 B, what is the journal entry to record the bank service charge? (NCCTE.9_12.BE.6311.CA04.01) |
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Term
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Definition
| In Scenario 4.01 G, calculate the adjusted bank balance. (NCCTE.9_12.BE.6311.CA04.01) |
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Term
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Definition
On March 31, Iredell Company received a bank statement showing the following information.
Bank statement balance $2,345.00
Bank service charge $15.00
The records of the business show the following information:
Outstanding deposit, Mar. 29 $250.00 Outstanding checks:
No. 288 $225.00
No. 289 $25.00
Assuming that the bank statement balance is correct, what is the correct Cash account balance on March 31?
(NCCTE.9_12.BE.6311.CA04.01) |
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Term
| Debit Accounts Receivable-Hickory Hosiery $80.00; credit Cash $80.00 |
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Definition
| On April 16, Caldwell Company received notice from the bank of a dishonored check from Hickory Hosiery in the amount of $55.00. The bank charged a service fee of $25.00. What is the correct journal entry for Caldwell Company to record the dishonored check? (NCCTE.9_12.BE.6311.CA04.01) |
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Term
| Debit Accounts Receivable-Wilkes Company $225.00; credit Cash $225.00 |
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Definition
| On February 14, Watauga Enterprises received notice from the bank of a dishonored check from Wilkes Company in the amount of $200.00. The bank charged a service fee of $25.00. What is the correct journal entry for Watauga Enterprises to record the dishonored check? (NCCTE.9_12.BE.6311.CA04.01) |
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Term
| Debit Petty Cash $500 and credit Cash $500 |
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Definition
| Michael wants to establish a $500 petty cash fund for his business. He has requested a check for $500. What is the correct journal entry to record the transaction? (NCCTE.9_12.BE.6311.CA04.02) |
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Term
| Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25, and credit cash $140, credit Cash Short and Over $15 |
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Definition
| Timothy wants to replenish the $300 petty cash fund. He has receipts for the following total payments: postage (Office Expense), $35; supplies, $25; and repairs, $95. A cash count shows $160 in the petty cash box. What is the correct journal entry to record the transaction? (NCCTE.9_12.BE.6311.CA04.02) |
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Term
| Debit Repair Expense $32, debit Supplies $18, debit Cash Short and Over $5, and credit Cash $55 |
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Definition
| Steve wants to replenish the $200 petty cash fund. He has receipts for the following total payments: supplies, $18; and repairs, $32. A cash count shows $145 in the petty cash box. What is the correct journal entry to record the transaction? (NCCTE.9_12.BE.6311.CA04.02) |
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Term
| Debit Repair Expense $43, debit Supplies $75, and credit cash $110, credit Cash Short and Over $8 |
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Definition
| Joseph wants to replenish the $150 petty cash fund. He has receipts for the following total payments: supplies, $75; and repairs, $43. A cash count shows $40 in the petty cash box. What is the correct journal entry to record the transaction? (NCCTE.9_12.BE.6311.CA04.02) |
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Term
| Debit Repair Expense $55, debit Supplies $85, and credit Cash $125, credit Cash Short and Over $15 |
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Definition
| Jessica wants to replenish the $200 petty cash fund. She has receipts for the following total payments: supplies, $85; and repairs, $55. A cash count shows $75 in the petty cash box. What is the correct journal entry to record the transaction? (NCCTE.9_12.BE.6311.CA04.02) |
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Term
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Definition
| In FIGURE 4.03 C, what is the Social Security withholding for Sally? (NCCTE.9_12.BE.6311.CA04.03) |
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Term
| 40 Regular Hours, 8 Overtime Hours, and 48 Total Hours |
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Definition
| Brandon worked 7 hours on Monday, 8 hours on Tuesday, 10 hours on Wednesday, 9 hours on Thursday, 10 hours on Friday, and 4 hours on Saturday. Brandon's rate of pay is $12 per hour. Calculate Brandon's regular, overtime and total hours for the week. (NCCTE.9_12.BE.6311.CA04.03) |
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Term
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Definition
| In FIGURE 4.03 C, what is the Medicare withholding for Kevin? (NCCTE.9_12.BE.6311.CA04.03) |
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Term
| Debit Payroll Tax Expense $405.00; credit Social Security Tax Payable $225.00, Medicare Tax Payable $125.00, Federal Unemployment Tax Payable $55.00 |
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Definition
| Sports Incorporated has employer payroll taxes as follows: Social Security Tax $225.00, Medicare Tax $125.00 and Federal Unemployment Tax $55.00. What is the entry to record the employer's payroll taxes? (NCCTE.9_12.BE.6311.CA04.03) |
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Term
| Debit Social Security Tax Payable $240.00, Medicare Tax Payable $110.00, Federal Income Tax Payable $250.00; credit Cash $600.00 |
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Definition
| Burger Barn paid the following taxes: Social Security $240.00, Medicare $110.00, Federal Income Tax $250.00. What is the entry to journalize the payment of the payroll taxes? (NCCTE.9_12.BE.6311.CA04.03) |
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Term
| Debit State Unemployment Tax Payable $168.00, credit Cash $168.00 |
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Definition
| Watauga Office Supply paid state unemployment taxes of $168.00. What is the entry to journalize the payment of the unemployment taxes? (NCCTE.9_12.BE.6311.CA04.03) |
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Term
| Debit State Unemployment Tax Payable $95.00; credit Cash $95.00 |
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Definition
| WKRP Broadcasting paid state unemployment taxes of $95.00. What is the entry to journalize the payment of the unemployment taxes? (NCCTE.9_12.BE.6311.CA04.03) |
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Term
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Definition
| Greg has gross earnings of $245.00, Social Security withholding of $15.19, Medicare withholding of $3.55, federal income tax withholding of $50.00, and state income tax withholding of $15.93. What are Greg's total deductions? (NCCTE.9_12.BE.6311.CA04.03) |
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Term
| Debit Salary Expense $1,500.00; credit Social Security Tax Payable $93.00, Medicare Tax Payable $21.75, Federal Income Tax Payable $200.00, State Income Tax Payable $80.00, Cash $1,105.25 |
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Definition
| John's Seafood has $1,500.00 in wages, $93.00 in Social Security withholding, $21.75 in Medicare withholding, $200.00 in federal income tax withholding, and $80.00 in state income tax withholding. What is the correct entry for recording the company's payroll? (NCCTE.9_12.BE.6311.CA04.03) |
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Term
| Debit Payroll Tax Expense $405.00; Credit Social Security Tax Payable $225.00, Medicare Tax Payable $125.00, Federal Unemployment Tax Payable $55.00 |
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Definition
| Sports Incorporated has employer payroll taxes as follows: Social Security Tax $225.00, Medicare Tax $125.00 and Federal Unemployment Tax $55.00. What is the entry to record the employer's payroll taxes? (NCCTE.9_12.BE.6311.CA04.03) |
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Term
| Debit Federal Unemployment Tax Payable $28.00, credit Cash $28.00 |
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Definition
| WKRP Broadcasting paid federal unemployment taxes of $28. What is the entry to journalize the payment of the unemployment taxes? (NCCTE.9_12.BE.6311.CA04.03) |
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Term
| Debit Accounts Receivable-Davie Company $150.00, Credit Cash $150.00 |
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Definition
| On December 23, Wake Incorporated received notice from the bank of a dishonored check from Davie Company in the amount of $125.00. The bank charged a service fee of $25.00. What is the correct journal entry for Wake Incorporated to record the dishonored check? (NCCTE.9_12.BE.6311.CA04.01) |
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Term
| Debit Repair Expense $45, debit Supplies $25 and credit Cash $70 |
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Definition
| Mary wants to replenish the $200 petty cash fund. She has receipts for the following total payments: supplies, $25; and repairs, $45. A cash count shows $130 in the petty cash box. What is the correct journal entry to record the transaction? (NCCTE.9_12.BE.6311.CA04.02) |
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Term
| Debit Office Expense $27, debit Supplies $36 and credit Cash $63 |
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Definition
| David wants to replenish the $150 petty cash fund. He has receipts for the following total payments: supplies, $36; and postage (Office Expense), $27. A cash count shows $87 in the petty cash box. What is the correct journal entry to record the transaction? (NCCTE.9_12.BE.6311.CA04.02) |
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Term
| Debit Repair Expense $15, debit Supplies $35 and credit Cash $50 |
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Definition
| Scott wants to replenish the $225 petty cash fund. He has receipts for the following total payments: supplies, $35; and repairs, $15. A cash count shows $175 in the petty cash box. What is the correct journal entry to record the transaction? (NCCTE.9_12.BE.6311.CA04.02) |
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Term
| Debit Petty Cash $250 and credit Cash $250 |
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Definition
| Claire wants to establish a $250 petty cash fund for her business. She requested a check for $250. What is the correct journal entry to record the transaction? (NCCTE.9_12.BE.6311.CA04.02) |
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Term
| Debit Repair Expense $45, debit Supplies $25, debit Office Expense $40 and debit Cash Short and Over $15, and credit Cash $125 |
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Definition
| Michelle wants to replenish the $300 petty cash fund. She has receipts for the following total payments: postage (Office Expense), $40; supplies, $25; and repairs, $45. A cash count shows $175 in the petty cash box. What is the correct journal entry to record the transaction? (NCCTE.9_12.BE.6311.CA04.02) |
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