X
7.
6.
Cash balance per bank, 5/30
$12,000
Note receivable collected by bank
6,000
Outstanding checks
9,000
Deposits in transit
4,500
Bank service charge
75
NSF check
1,200
Determine the cash balance per books (before adjustments) for Zebb Company.
a. $8,775.
b. $16,500.
c. $2,775.
d. $12,000.
6. Most companies involved in interstate commerce are required to compute overtime at
a. the worker's regular hourly wage.
b. 1.25 times the worker's regular hourly wage.
c. 1.5 times the worker's regular hourly wage.
d. 2.5 times the worker's regular hourly wage.
7. Losses on the exchange of similar assets are
a. not possible.
b. deferred.
c. recognized immediately.
d. deducted from the cost of the new asset acquired.