22. Sahara\'s cash account has an ending balance of $1050. The bank statement sh

Question

22. Sahara's cash account has an ending balance of $1050. The bank statement shows a $35 service fee and an NSF check for $400. A $350 deposit is in transit and outstanding checks total $500. What is Sahara's adjusted cash balance? 150 900 615 465 23. The petty cash fund had an initial balance of $250. It currently has petty cash tickets totaling $200 for office supplies. There is $41 left in the fund. The journal entry to replenish the fund would contain a credit to cash over and short for $9 a credit to cash for $209 a credit to cash for $50 a debit to petty cash for $209 a debit to petty cash for $50 24. Separation of duties is important for internal control of cash receipts cash disbursements neither of the above both a and b 25. The entry to record a write off of an uncollectible account using the direct write off method involves a credit to allowance for bad debts debit to cash debit to accounts receivable credit to accounts receivable credit to cash 26.Joelle Associates uses the allowance method for uncollectible accounts. At the beginning of the year, the allowance had a credit balance of $3,000 During the year, Joelle wrote off uncollectible accounts of $6,100. Joelle has an ending allowance balance of $4,900. What is bad debt expense? 7,900.00 1,900.00 8,000.00 11,000.00

Explanation / Answer

22. Answer is c. $615

Cash book balance = $1050

Less: NSF check = $ 400

Balance = $650

Less: Service fee =$35

Adjusted cash book = $615

23. Answer is b. $209

Beginning petty cash balance =$250

Ending balance = $41

Difference =$209

Tickets available =$200

Cash sort / excess =$9

Cash to replenish =$200 + $9 = $209   

24. Answer is d.

25. Answer is d.

26. Answer is c.$8,000

Ending balance $4,900

Written off   $6,100

$11,000

Less:Beginning balance $ 3,000

Bad debts expense $8,000

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