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ACC 291T Week 3 Apply: Connectu00ae Exercise//tutorfortune.com<br><br>Click on below link to buy<br>https://tutorfortune.com/products/acc-291t-week-3-apply-connect-exercise<br><br>ACC 291T Week 3 Apply: Connectu00ae Exercise<br><br>Review the Knowledge Check in preparation for this assignment.<br><br>Complete the Week 3 Exercise in Connectu00ae.<br><br>Note: You have only one attempt available to complete this assignment.<br><br>Grades must be transferred manually to eCampus by your instructor. Donu2019t worry, this might happen after your due date<br><br>Which of the following statements is not correct?<br><br>Multiple Choice<br><br>In accounting, the term u201ccashu201d includes checks, money orders, and funds on deposit in a bank as well as currency and coins.<br><br>In a well managed business, most bills are paid by cash.<br><br>The cash register proof is used to enter the cash sales and sales tax in the journal.<br><br>The petty cash account balance is usually listed separately from the Cash account on the Balance Sheet.<br><br>Most businesses use the petty cash fund to pay for<br><br>Multiple Choice<br><br>internal expenses.<br><br>accounts payable.<br><br>small expenditures.<br><br>merchandise purchases.<br><br>Which of the following statements is correct?<br><br>Multiple Choice<br><br>An endorsement is a written authorization that transfers ownership of a check.<br><br>If a check is negotiable, it means that ownership cannot be transferred.<br><br>A check is a written order signed by an authorized person, the drawee.<br><br>Most businesses make one monthly deposit of cash receipts in order to maintain better control over their cash.<br><br>The entry to replenish a petty cash fund typically includes<br><br>Multiple Choice<br><br>a debit to Cash and a credit to Petty Cash.<br><br>debits to various asset and expense accounts and a credit to Cash.<br><br>debits to various expense accounts and a credit to Petty Cash Fund.<br>a debit to Petty Cash Fund and a credit to Cash.<br><br>ABC Office Suppliers keeps a $200 change fund in its cash register. The cash sales per the cash register tape on May 30 were $700. The cash count was $908. Identify the correct journal entry below to record the sales and cash overage (or shortage) for May 30.<br><br>no journal entry is required for the reconciling item.<br>ACC 291T Week 3 Apply: Connectu00ae Exercise<br>Click on below link to buy<br>https://tutorfortune.com/products/acc-291t-week-3-apply-connect-exercise<br><br>
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ACC 291T Week 3 Apply: Connect® Exercise//tutorfortune.com Click on below link to buy https://tutorfortune.com/products/acc-291t-week-3-apply-connect-exercise A C C 2 9 1 T We e k 3 A p p l y : C o n n e c t ® E x e r c i s e R e v i e w t h e K n o w l e d g e C h e c k i n p r e p a r a t i o n f o r t h i s a s s i g n me n t . C o mp l e t e t h e We e k 3 E x e r c i s e i n C o n n e c t ® . N o t e : Y o u h a v e o n l y o n e a t t e mp t a v a i l a b l e t o c o mp l e t e t h i s a s s i g n me n t . G r a d e s mu s t b e t r a n s f e r r e d ma n u a l l y t o e C a mp u s b y y o u r i n s t r u c t o r . D o n ’ t w o r r y , t h i s mi g h t h a p p e n a f t e r y o u r d u e d a t e Wh i c h o f t h e f o l l o w i n g s t a t e me n t s i s n o t c o r r e c t ? Mu l t i p l e C h o i c e I n a c c o u n t i n g , t h e t e r m “ c a s h ” i n c l u d e s c h e c k s , mo n e y o r d e r s , a n d f u n d s o n d e p o s i t i n a b a n k a s w e l l a s c u r r e n c y a n d c o i n s . I n a w e l l ma n a g e d b u s i n e s s , mo s t b i l l s a r e p a i d b y c a s h . T h e c a s h r e g i s t e r p r o o f i s u s e d t o e n t e r t h e c a s h s a l e s a n d s a l e s t a x i n t h e j o u r n a l . T h e p e t t y c a s h a c c o u n t b a l a n c e i s u s u a l l y l i s t e d s e p a r a t e l y f r o m t h e C a s h a c c o u n t o n t h e B a l a n c e S h e e t . Mo s t b u s i n e s s e s u s e t h e p e t t y c a s h f u n d t o p a y f o r Mu l t i p l e C h o i c e i n t e r n a l e x p e n s e s . a c c o u n t s p a y a b l e . s ma l l e x p e n d i t u r e s . me r c h a n d i s e p u r c h a s e s . Wh i c h o f t h e f o l l o w i n g s t a t e me n t s i s c o r r e c t ? Mu l t i p l e C h o i c e
A n e n d o r s e me n t i s a w r i t t e n a u t h o r i z a t i o n t h a t t r a n s f e r s o w n e r s h i p o f a c h e c k . I f a c h e c k i s n e g o t i a b l e , i t me a n s t h a t o w n e r s h i p c a n n o t b e t r a n s f e r r e d . A c h e c k i s a w r i t t e n o r d e r s i g n e d b y a n a u t h o r i z e d p e r s o n , t h e d r a w e e . Mo s t b u s i n e s s e s ma k e o n e mo n t h l y d e p o s i t o f c a s h r e c e i p t s i n o r d e r t o ma i n t a i n b e t t e r c o n t r o l o v e r t h e i r c a s h . T h e e n t r y t o r e p l e n i s h a p e t t y c a s h f u n d t y p i c a l l y i n c l u d e s Mu l t i p l e C h o i c e a d e b i t t o C a s h a n d a c r e d i t t o P e t t y C a s h . d e b i t s t o v a r i o u s a s s e t a n d e x p e n s e a c c o u n t s a n d a c r e d i t t o C a s h . d e b i t s t o v a r i o u s e x p e n s e a c c o u n t s a n d a c r e d i t t o P e t t y C a s h F u n d . a d e b i t t o P e t t y C a s h F u n d a n d a c r e d i t t o C a s h . A B C O ffi c e S u p p l i e r s k e e p s a $ 2 0 0 c h a n g e f u n d i n i t s c a s h r e g i s t e r . T h e c a s h s a l e s p e r t h e c a s h r e g i s t e r t a p e o n Ma y 3 0 w e r e $ 7 0 0 . T h e c a s h c o u n t w a s $ 9 0 8 . I d e n t i f y t h e c o r r e c t j o u r n a l e n t r y b e l o w t o r e c o r d t h e s a l e s a n d c a s h o v e r a g e ( o r s h o r t a g e ) f o r Ma y 3 0 . n o j o u r n a l e n t r y i s r e q u i r e d f o r t h e r e c o n c i l i n g i t e m. A C C 2 9 1 T We e k 3 A p p l y : C o n n e c t ® E x e r c i s e Click on below link to buy https://tutorfortune.com/products/acc-291t-week-3-apply-connect-exercise
