Page 1

AC 107 Entire Course

For more course tutorials visit

www.tutorialrank.com AC 107 Week 1 Unit 1 Assignment (Score 49.5/50) AC 107 Week 1 Discussion AC 107 Week 2 Unit 2 Assignment (Score 47/50) AC 107 Week 2 Discussion

AC 107 Week 3 Unit 3 Assignment (Score 40/50) AC 107 Week 4 Unit 4 Key Assessment AC 107 Week 4 Discussion AC 107 Week 5 Unit 5 Assignment (Score 48/50) AC 107 Week 5 Discussion AC 107 Week 6 Unit 6 Assignment (Score 45/50) AC 107 Week 7 Discussion AC 107 Week 7 Unit 7 Key Assessment CLO 3


AC 107 Final Exam Guide (100% Score) AC 107 Week 1 Quiz (100% Score) AC 107 Week 2 Quiz (100% Score) AC 107 Week 3 Quiz (100% Score) AC 107 Week 4 Midterm Exam (100% Score) AC 107 Week 5 Quiz (100% Score) AC 107 Week 6 Quiz (100% Score) **********************************

AC 107 Final Exam Guide (100% Score)

For more course tutorials visit

www.tutorialrank.com Question 1

On any given day, it is unlikely that the balance in the Cash account in the depositor's general ledger will be the same as the bank balance.

Question 2


In the journal entry to record the daily cash receipts for sales, a cash shortage in a change fund is entered as a debit to Cash Short and Over for the amount of the shortage.

Question 3 To reconcile the bank statement, which of the following amounts would be added to the bank statement ending balance?

Question 4

The check written to establish the petty cash fund is recorded in the journal by entering a debit to Petty Cash and a credit to Cash for the amount of the check written.

Question 5 Part of the Sarbanes-Oxley Act (SOX) requires that management of publicly traded companies provide a statement that they understand their responsibility for maintaining adequate internal controls as well as a report on the effectiveness of the current controls. 6 The control activities of internal controls include the following:

Question 7


Management creates the control environment for a business by setting the ethical and professional norms.

Question 8

The Sales Returns and Allowance account is credited for the selling price of any merchandise returned by a customer.

Question 9 Sales Revenue less sales returns and allowances and less sales discounts equals net sales.

Question 10

The amount of sales tax collected is recorded in the Sales Tax Revenue account.

Question 11

A customer returns merchandise that was delivered in poor condition and that does not meet specifications. The account that the customer would credit for the amount of the return is

Profile for PrescottLunt1005

AC 107 Inspiring Innovation--tutorialrank.com  

For more course tutorials visit www.tutorialrank.com AC 107 Week 1 Unit 1 Assignment (Score 49.5/50) AC 107 Week 1 Discussion AC 107 Week 2...

AC 107 Inspiring Innovation--tutorialrank.com  

For more course tutorials visit www.tutorialrank.com AC 107 Week 1 Unit 1 Assignment (Score 49.5/50) AC 107 Week 1 Discussion AC 107 Week 2...

Advertisement