Century 21 Accounting General Journal
11th Edition
ISBN: 9781337680059
Author: Gilbertson
Publisher: Cengage
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True (t) or False (f)
______ Certificates of deposit are usually classified as cash on the
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- How are the cash proceeds determined when a note receivable is transferred?arrow_forwardWhat are the components of cash? What items may be confused with cash, but normally are categorized under other balance sheet captions?arrow_forwardTrue (t) or False (f) ______ Savings accounts are usually classified as cash on the balance sheet.arrow_forward
- In the deposit function, the bank is the _____ and the depositors are the ______ a. drawee - payees b. debtor - creditors c. payee - drawers d. creditor - debtorsarrow_forward1. Savings accounts are usually classified as cash on the balance sheet. TRUE FALSEarrow_forwardA(n) electronic _____ is the electronic exchange of money or scrip. a. cash transfer b. array c. payment d. exchangearrow_forward
- In a bank reconciliation, an EFT cash payment isa. deducted from the bank balance.b. added to the bank balance.c. added to the book balance.d. deducted from the book balance.arrow_forwardDefine the following concepts? a. Petty cash funds. b. Escrow payment. c. Chart of accounts.arrow_forwardThe amount of cash that is actually expected to be collected on accounts receivable is referred to as:arrow_forward
- The portion of an entity’s cash account that is held as a compensating balance must be aggregated with cash only if the related borrowings are current liabilities. Select one: True Falsearrow_forwardIn a bank reconciliation, an EFT cash payment is A. added to the bank balance in the general ledger B. deducted from the bank balance on the bank statement C. added to the bank balance on the bank statement D. deducted from the bank balance in the general ledgerarrow_forwardWhich item is not considered cash and cash equivalents on the balance sheet? a. Unrestricted funds on deposit with the bank b. money market funds c. postdated checks d. bank draftsarrow_forward
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