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ACC 291T Week 3 Practice: Connect® Knowledge Check//tutorfortune.com

ACC 291T Week 3 Practice: Connectu00ae Knowledge Check//tutorfortune.com<br><br>Click on below link to buy<br>https://tutorfortune.com/products/acc-291t-week-3-practice-connect-knowledge-check<br><br>ACC 291T Week 3 Practice: Connectu00ae Knowledge Check<br><br>Complete the Week 3 Knowledge Check in Connectu00ae.<br><br>Note: You have unlimited attempts available to complete this practice assignment. The highest scored attempt will be recorded.<br><br>These assignments have earlier due dates, so plan accordingly.<br><br>Grades must be transferred manually to eCampus by your instructor. Donu2019t worry, this might happen after your due date.<br><br>The bank statement did not show a check for $630 that was written and recorded by the company during the month. The journal entry needed for this reconciling item includes:<br><br>Multiple Choice<br><br>a credit to Accounts Payable.<br>no journal entry is required for the reconciling item.<br><br>a debit to cash.<br><br>a credit to Cash.<br><br>Included with its bank statement a firm may receive a credit memorandum, which could indicate<br><br>Multiple Choice<br>a fee for printing new business checks.<br><br>a bank service charge deducted from the firmu2019s account balance.<br>an addition to the firmu2019s account balance because the bank collected the amount due on a promissory note from a customer of the firm.<br><br>the banku2019s return of a dishonored (NSF) check that was issued by a credit customer of the firm.<br><br>A firm appropriately wrote a check for $78 but entered the amount as payment of $87 in its records. On a bank reconciliation statement this error would be shown as<br><br>Multiple Choice<br><br>a deduction of $9 from the book balance.<br><br><br>an addition of $9 to the book balance.<br><br><br>a deduction of $9 from the bank statement balance.<br><br><br>an addition of $9 to the bank statement balance.<br><br>Which of the following is not a reason why the book balance of cash may not agree with the balance on the bank statement?<br><br>Multiple Choice<br><br>Outstanding checks<br><br>End of the month<br><br>Service charges and other deductions<br><br>Deposit in transit<br><br>The bank statement did not show a deposit of $850 that had been recorded by the firm. The journal entry needed for this reconciling item includes:<br><br>Multiple Choice<br><br>a credit to Accounts Receivable.<br><br>a credit to Cash.<br><br>no journal entry is required for the reconciling item.<br>a debit to cash.<br><br>The bank statement showed an NSF check from a customer, which the company listed as a reconciling item on the bank reconciliation statement. The journal entry needed for this reconciling item includes:<br><br>a debit to Petty Cash Fund and a credit to Cash.<br>ACC 291T Week 3 Practice: Connectu00ae Knowledge Check<br><br><br>Click on below link to buy<br>https://tutorfortune.com/products/acc-291t-week-3-practice-connect-knowledge-check<br><br><br>

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ACC 291T Week 3 Practice: Connect® Knowledge Check//tutorfortune.com

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  1. ACC 291T Week 3 Practice: Connect® Knowledge Check//tutorfortune.com Click on below link to buy https://tutorfortune.com/products/acc-291t-week-3-practice-connect-knowledge-check A C C 2 9 1 T We e k 3 P r a c t i c e : C o n n e c t ® K n o w l e d g e C h e c k C o mp l e t e t h e We e k 3 K n o w l e d g e C h e c k i n C o n n e c t ® . N o t e : Y o u h a v e u n l i mi t e d a t t e mp t s a v a i l a b l e t o c o mp l e t e t h i s p r a c t i c e a s s i g n me n t . T h e h i g h e s t s c o r e d a t t e mp t w i l l b e r e c o r d e d . T h e s e a s s i g n me n t s h a v e e a r l i e r d u e d a t e s , s o p l a n a c c o r d i n g l y . 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 . T h e b a n k s t a t e me n t d i d n o t s h o w a c h e c k f o r $ 6 3 0 t h a t w a s w r i t t e n a n d r e c o r d e d b y t h e c o mp a n y d u r i n g t h e mo n t h . T h e j o u r n a l e n t r y n e e d e d f o r t h i s r e c o n c i l i n g i t e m i n c l u d e s : Mu l t i p l e C h o i c e a c r e d i t t o A c c o u n t s P a y a b l e . 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 d e b i t t o c a s h . a c r e d i t t o C a s h . I n c l u d e d w i t h i t s b a n k s t a t e me n t a fi r m ma y r e c e i v e a c r e d i t me mo r a n d u m, w h i c h c o u l d i n d i c a t e Mu l t i p l e C h o i c e a f e e f o r p r i n t i n g n e w b u s i n e s s c h e c k s . a b a n k s e r v i c e c h a r g e d e d u c t e d f r o m t h e fi r m’ s a c c o u n t b a l a n c e . a n a d d i t i o n t o t h e fi r m’ s a c c o u n t b a l a n c e b e c a u s e t h e b a n k c o l l e c t e d t h e a mo u n t d u e o n a p r o mi s s o r y n o t e f r o m a c u s t o me r o f t h e fi r m. t h e b a n k ’ s r e t u r n o f a d i s h o n o r e d ( N S F ) c h e c k t h a t w a s i s s u e d b y a c r e d i t c u s t o me r o f t h e fi r m. A fi r m a p p r o p r i a t e l y w r o t e a c h e c k f o r $ 7 8 b u t e n t e r e d t h e a mo u n t a s p a y me n t o f $ 8 7 i n i t s r e c o r d s . O n a b a n k r e c o n c i l i a t i o n s t a t e me n t t h i s e r r o r w o u l d b e s h o w n a s Mu l t i p l e C h o i c e

  2. a d e d u c t i o n o f $ 9 f r o m t h e b o o k b a l a n c e . a n a d d i t i o n o f $ 9 t o t h e b o o k b a l a n c e . a d e d u c t i o n o f $ 9 f r o m t h e b a n k s t a t e me n t b a l a n c e . a n a d d i t i o n o f $ 9 t o t h e b a n k s t a t e me n t b a l a n c e . Wh i c h o f t h e f o l l o w i n g i s n o t a r e a s o n w h y t h e b o o k b a l a n c e o f c a s h ma y n o t a g r e e w i t h t h e b a l a n c e o n t h e b a n k s t a t e me n t ? Mu l t i p l e C h o i c e O u t s t a n d i n g c h e c k s E n d o f t h e mo n t h S e r v i c e c h a r g e s a n d o t h e r d e d u c t i o n s D e p o s i t i n t r a n s i t T h e b a n k s t a t e me n t d i d n o t s h o w a d e p o s i t o f $ 8 5 0 t h a t h a d b e e n r e c o r d e d b y t h e fi r m. T h e j o u r n a l e n t r y n e e d e d f o r t h i s r e c o n c i l i n g i t e m i n c l u d e s : Mu l t i p l e C h o i c e a c r e d i t t o A c c o u n t s R e c e i v a b l e . a c r e d i t t o C a s h . 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 d e b i t t o c a s h . T h e b a n k s t a t e me n t s h o w e d a n N S F c h e c k f r o m a c u s t o me r , w h i c h t h e c o mp a n y l i s t e d a s a r e c o n c i l i n g i t e m o n t h e b a n k r e c o n c i l i a t i o n s t a t e me n t . T h e j o u r n a l e n t r y n e e d e d f o r t h i s r e c o n c i l i n g i t e m i n c l u d e s : 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 C C 2 9 1 T We e k 3 P r a c t i c e : C o n n e c t ® K n o w l e d g e C h e c k

  3. Click on below link to buy https://tutorfortune.com/products/acc-291t-week-3-practice-connect-knowledge-check

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