100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MBA 5100 - Quiz 5 Questions and answers latest update $14.99   Add to cart

Exam (elaborations)

MBA 5100 - Quiz 5 Questions and answers latest update

 2 views  0 purchase
  • Course
  • Institution

MBA 5100 - Quiz 5 Questions and answers latest update

Preview 1 out of 2  pages

  • March 12, 2024
  • 2
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
  • Unknown
avatar-seller
MBA 5100 - Quiz 5
a bank reconciliation should be prepared periodically because - correct answer any differences between
the depositor's records and the bank's records should be determined, and any errors made by either
party should be discovered and corrected.



Day Time Company records the receipts from cash sales of $41,200 as $12,400. What adjustment is
required by the bank? - correct answer no adjustment needed



A cashed check for $1,900 was erroneously recorded by the bank as $9,100. How is the error adjusted in
a bank reconciliation? - correct answer the amount is added to the cash balance in the bank section of
the reconciliation



The ratio of cash to monthly cash expense is computed as - correct answer cash and cash equivalents
divided by monthly cash expenses



If a company's net cash flows from operating activities is $1,500,000 for a year and its end of the year
cash and cash equivalents balance is $750,000, determine the company's ratio of cash to monthly cash
expenses - correct answer 6:1



=1,500,000/750,000

=2



2/12 months = 1/6

6:1



The bank statement of Jade Co. shows a balance of $4,555 as of December 31. The following reconciling
items were identified:

(i) deposit not recorded in bank statement, $50

(ii) total outstanding checks, $105

(iii)Check of $100 returned because of not sufficient funds (NSF)

What is the adjusted balance according to the bank statement? - correct answer $4,500

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Schoolflix. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $14.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

85443 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$14.99
  • (0)
  Add to cart