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Chapter 7 Sample Problems. 5. Michelle Darby received cash from customers. Her other assigned job is to post the collections to customer accounts.

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Presentation on theme: "Chapter 7 Sample Problems. 5. Michelle Darby received cash from customers. Her other assigned job is to post the collections to customer accounts."— Presentation transcript:

1 Chapter 7 Sample Problems

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6 5. Michelle Darby received cash from customers. Her other assigned job is to post the collections to customer accounts receivable. Her company has weak

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8 7. The petty cash fund had an initial imprest balance of $100. It currently has $20 and petty cash tickets totaling $75 for office supplies. The entry to replenish the fund would contain

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10 9. Sahara Company’s Cash account shows an ending balance of $650. The bank statement shows a $29 service charge and an NSF check for $150. A $240 deposit is in transit, and outstanding checks total $420. What is Sahara’s adjusted cash balance?

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