Accounting Warren 23rd Edition Test Bank

Accounting Warren 23rd Edition Test Bank

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Accounting Warren 23rd Edition Test Bank

ACHIEVEMENT TEST SOLUTIONS—CHAPTER 8

TEST 8A TEST 8B
Problem 1 Problem 1
Bank Reconciliation Financial Statements

1. A 1. D
2. D 2. C
3. D 3. B
4. C 4. C
5. D 5. D
6. A 6. D
7. B 7. A
8. C 8. C
9. C 9. B
10. B 10. D

Fill-in-the-Blank Fill-in-the-Blank
Principles and Terminology Principles and Terminology

1. internal controls 1. $12,426

2. purchase order 2. $12,678
3. supplier’s invoice 3. credit
4. receiving report 4. expense
5. petty cash fund 5. Sarbanes-Oxley
6. compensating balance 6. (3)
7. liquid 7. (4)
8. notes to financial statements 8. internal control
9. signature card 9. detective controls
10. Cash Short and Over 10. drawer
11. control environment 11. drawee
12. control procedures 12. payee
13. detective controls 13. remittance advice
14. Other Expense 14. adjusted balance

Problem 2 Problem 2
Analysis of Transactions Analysis of Transactions

Debit Credit Debit Credit

1. A 2. E, I 1. I 2. A
3. O 4. E 3. A 4. E, I
5. E, F 6. Q 5. A 6. E
7. E 8. M 7. E 8. Q, F
9. B 10. E 9. J, K 10. E
11. N, J, K 12. E 11. E 12. H, M

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