1. Efficient management of cash includes which of the following concepts? A. Pay cach bill as soon as the invoice is received. B. Deposit all cash receipts and make all cash disbursements at the end of cach week. C. Prepare monthly cash budgets (forecasts). D. Pay suppliers in cash out of cash sales receipts before depositing them in the bank.

Construct a list of steps for making a cash withdrawal from an automated teller machine (ATM). Assume that the process begins at the ATM with your bank card in hand. Then identify the potential failure points (i.e., where problems might arise in the process). For each failure point, state onepotential problem.

please step by step solution.

1. Cash control systems are the methods and procedures used to ensure --   a. That current obligations are met b. That excess cash does not exists c. The safeguarding of cash d. That unused cash is invested   2. Bank reconciliation -   a. Is the process of transferring money in or out of a bank account b. Requires that every transaction which will result in a cash payment be verified, approved and recorded before a bank check is prepared. c. Is an analysis that reflects the bank transactions made by the depositor d. Explains the difference between the bank balance and the balance shown in the depositor’s records   3. The journal entries for bank reconciliation -   a. are taken from the balance per bank only b. may include a debit to office expense for bank service charges c. may include a credit to accounts receivable for an NSF check d. may include a debit to accounts…

Cash receipts should be deposited on the day of receipt or the following business day. Select the most appropriate audit procedure to determine that cash is promptly deposited. a. Review the functions of cash receiving and disbursing for proper separation of duties. b. Review cash register tapes prepared for each sale. c. Review the functions of cash handling and maintaining accounting records for proper segregation of duties. d. Compare the daily cash receipts totals with the bank deposits

A $180 petty cash fund has cash of $15 and receipts of $180. Which of the following would be part of the journal entry to replenish the account? Select the correct answer. a-debit to Cash for $15 b-credit to Cash Short and Over for $15 c-credit to Petty Cash for $180 d-credit to Cash for $180

After posting the journal entries to the Cash T-account, the balance in the Cash T- account should equal the True Cash Balance on the Bank Reconciliation the Cash Balance per Books O today's Cash Balance on the Bank's internet site. the Cash Balance per Bank

Which of the following can be considered as an effective control of cash?A. One person handles the receipts and disbursements of cash.B. Cash is deposited monthly into a bank.C. There is approval of cash payments.D. A reconciliation of the bank balance with the cash balance is prepared twice a year.

The following selected transactions relate to cash collections for a firm that maintains a $100 change fund at all times. Present entries to record the transactions for each of the two days of cash receipts from sales. a. Actual cash in cash register, $5,154; cash receipts per cash register tally, $5,170. b. Actual cash in cash register, $4,339; cash receipts per cash register tally, $4,228. If an amount box does not require an entry, leave it blank. a. Cash 5,154 Cash Short and Over 13 Sales 5,170 b. Cash 4,339 Cash Short and Over 4,228 Sales Previous Next

The following selected transactions relate to cash collections for a firm that maintains a $100 change fund at all times. Present entries to record the transactions for each of the two days of cash receipts from sales. a. Actual cash in cash register, $5,757; cash receipts per cash register tally, $5,780. b. Actual cash in cash register, $5,601; cash receipts per cash register tally, $5,488. If an amount box does not require an entry, leave it blank. a. b. Accounts Payable Accounts Receivable Cash Sales Sales Discounts