Chapter 7 Sample Problems. 5. Michelle Darby received cash from customers. Her other assigned job is to post the collections to customer accounts.

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Presentation transcript:

Chapter 7 Sample Problems

5. Michelle Darby received cash from customers. Her other assigned job is to post the collections to customer accounts receivable. Her company has weak

7. The petty cash fund had an initial imprest balance of $100. It currently has $20 and petty cash tickets totaling $75 for office supplies. The entry to replenish the fund would contain

9. Sahara Company’s Cash account shows an ending balance of $650. The bank statement shows a $29 service charge and an NSF check for $150. A $240 deposit is in transit, and outstanding checks total $420. What is Sahara’s adjusted cash balance?