W. Bradley Consulting Service sold services for cash. This transaction would result in a(n)
a. increase to Income from Services with a debit.
b. increase to cash with a credit.
c. increase to Income from Services with a credit.
d. decrease to cash with a credit.
c
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The risk that an auditor will examine a fraudulent check and not recognize it as being fraudulent is called _________
a. sampling risk b. non-sampling risk c. systematic risk d. systemic risk
Anthony Delivery Service has a weekly payroll of $32,000. December 31 falls on Tuesday and Anthony will pay its employees the following Monday (January 6 ) for the previous full week
Assume that Anthony has a five-day workweek and has an unadjusted balance in Salaries Expense of $925,000. What is the December 31 balance of Salaries Expense after adjusting entries are recorded and posted? A) $925,000 B) $957,000 C) $944,200 D) $937,800
More than 90 percent of working Americans have access to paid leave, and all working Americans are covered by the Family and Medical Leave Act of FMLA.
Answer the following statement true (T) or false (F)
Following are seven items a through g that would cause Rembrandt Company's book balance of cash to differ from its bank statement balance of cash.a. A service charge imposed by the bank.b. A check listed as outstanding on the previous period's reconciliation and still outstanding at the end of this month.c. A customer's check returned by the bank is marked "Not Sufficient Funds (NSF)".d. A deposit mailed to the bank on the last day of the current month and not recorded on this month's bank statement.e. A check paid by the bank at its correct $190 amount recorded in error in the company's check register at $109.f. An unrecorded credit memorandum indicating that bank collected a note receivable for Rembrandt Company and deposited the proceeds in the company's account.g. A check written in
the current period that is not yet paid or returned by the bank.Indicate where each item, letters a-g, would appear on Rembrandt Company's bank reconciliation by placing its identifying letter in the parentheses in the proper section of the form below.Bank statement cash balance?Book balance of cash?Add:( )Add:( )?( )?( )?( )?( )Deduct:( )Deduct:( )?( )?( )?( )?( )????Reconciled balance?Reconciled balance? What will be an ideal response?