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Which would require the petty cash account to be credited

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Reference no: EM132902418

Problem 1: The proper treatment on the bank reconciliation of an NSF check of a customer that is returned with the bank statement is to show it as a(an)

A) addition per book balance of cash

B) deduction per book balance of cash

C) addition per bank statement balance

D) deduction per bank statement balance

Problem 2: Which of the following would require the Petty Cash account to be credited?

A) the petty cash fund is short by $3.50

B) the petty cash fund is over by $4.50

C) the petty cash account is being increased

D) the petty cash account is being decreased

Problem 3: If the petty cash fund is not replenished at the end of the accounting period,

A) the income statement and the balance sheet will not be correct

B) liabilities will be overstated on the balance sheet

C) the cash account will be understated

D) it indicates that the petty cash fund is probably short

Reference no: EM132902418

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