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Business Math Chapter Test 5
Al Resse and Marci Rey received a total of $210,000 from a deceased relative's estate. They decided to put away $50,000 in a trust for their child and divide the remainder into 1/4 for Marci and 3/4 for Al. How much will Al receive? $120,000 At Shaw's Market, apples cost $10 per case and bananas cost $6 per case. If an order comes in for a total of 300 cases for $2,000, What was the specific number of cases of apples? (Hint: Let A = cases of apples.) 50 Scholastic Books sells 4 times as many textbooks as Keller Publishing; together they sold 7,775 textbooks. How many did Scholastic sell? 6,220 Dolls cost $140 per carton, and trucks cost $430 per carton. If an order comes in for a total of 100 cartons for $28,500, What was the number of cartons of dolls? (Hint: Let T = cartons of dolls.) 50 C + 100 = 55; C equals: -45 Q + 92 = 128; Q equals: 36 Rick and Ranger sell Toyotas for Tom's Auto. Over the past year they sold 360 cars. Assuming Rick sells 5 times as many as Ranger, how many Toyotas did Ranger sell? 60 One-ninth of all sales at a local Subway are for cash. If cash sales for the week were $690, What were Subway's total sales? $6,210 +31 - (-16) equals: 47 Jerry's age 10 years ago can be expressed as: A - 10 The process of analyzing the differences between the bank statement balance and the checkbook balance is: Bank reconciliation Checks written that do not appear on your bank statement are: Paid from the previous month. Not written correctly. Appear as a deposit. Credited to savings. None of these In the reconciliation process the unrecorded bank service charge is: Deducted from checkbook balance. When you are reconciling a bank statement, it's recommended that you do the following: List your balance. List your bank statements balance. Record checks outstanding. Record deposits outstanding. All of these Online banking Is usually safe. Concord Pizza's checkbook balance is $1,799.59. The bank statement has a balance of $2,314.22. Interest earned on the statement was $35.50. With checks outstanding of $504.13 and a monthly service charge of $25.00, the reconciled balance is: None of these or ($1,810.09) Which of the following are debited from a checking account? ATM withdrawal. Returned check fee. Monthly service charge. Monthly electronic payment of utilities. All are debits The checkbook balance of Lester Co. was $922.55. The bank statement revealed a balance of $3,881.14. The bank statement showed interest earned of $77 and a service charge of $38.22, along with a deposit in transit of $9,555.88. Outstanding checks totaled $6,142.88. The bookkeeper in further analyzing the bank statement noticed a collection of a note by the bank for $6,815.00. Lester Co. forgot to deduct a check for $482.19 during the month. The reconciled balance is: $7,294.14 The bank statement for Mat Co. revealed a balance of $900, and the checkbook balance showed $1,420. Checks outstanding totaled $35. A check printing charge for $5 was on the bank statement. There was a $50 NSF shown on the bank statement. There was a $500 deposit in transit. What is the reconciled balance? None of these or ($1,365.00) On December 31, the checkbook balance of Ray Co. was $5,420.95. The bank statement balance showed $5,102.88. Checks outstanding totaled $813.53. The statement did not show a deposit in transit of $1,102.95. Check charges were $15.88. The company earned interest income of $29.32 that was shown on the report. The bookkeeper forgot to record a check for $42.09. The reconciled balance is: $5,392.30 |
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