Term
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Definition
| In Scenario 4.01 B, calculate the adjusted checkbook balance. |
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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? |
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Term
| No, the adjusted checkbook balance is $140.50 too low. |
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Definition
| In Scenario 4.01 F, does the bank statement reconcile? |
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Term
| Yes, the adjusted checkbook balance and the adjusted bank balance agree. |
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Definition
| In Scenario 4.01 G, does the bank statement reconcile? |
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Term
| No, the adjusted checkbook balance is $12.25 too high. |
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Definition
| In Scenario 4.01 H, assuming that the bank balance is correct, does the bank statement reconcile? |
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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? |
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Term
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Definition
| In Scenario 4.01 D, what is the adjusted checkbook balance? |
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Term
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Definition
| In Scenario 4.01 F, what is the adjusted bank balance? |
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Term
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Definition
| Assuming that the bank statement balance is correct, what is the correct Cash account balance on October 31? |
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Term
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Definition
| In Scenario 4.01 H, calculate the adjusted bank balance. |
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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? |
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Term
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Definition
| In Scenario 4.01 G, calculate the adjusted bank balance |
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Term
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Definition
| Assuming that the bank statement balance is correct, what is the correct Cash account balance on March 31? |
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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? |
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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? |
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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? |
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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? |
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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? |
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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? |
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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? |
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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? |
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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? |
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Term
| Debit Repair Expense $35, debit Supplies $55, debit Cash Short and Over $15, and credit Cash $105 |
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Definition
| Emily wants to replenish the $300 petty cash fund. She has receipts for the following total payments: supplies, $55; and repairs, $35. A cash count shows $195 in the petty cash box. What is the correct journal entry to record the transaction? |
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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? |
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Term
| Debit Repair Expense $76, debit Office Expense $34, debit Cash Short and Over $40, and credit Cash $150 |
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Definition
| Daniel wants to replenish the $250 petty cash fund. He has receipts for the following total payments: postage, $34; and repairs, $76. A cash count shows $100 in the petty cash box. What is the correct journal entry to record the transaction? |
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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? |
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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? |
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Term
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Definition
| In FIGURE 4.03 C, what is the Social Security withholding for Sally? |
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Term
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Definition
| Matt has gross earnings of $300.00 and total deductions of $126.75. What is Matt's net pay? |
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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. |
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