C & CE Flashcards
1
Q
Cash
A
unrestricted
2
Q
Cash Equivalents
What is the rule?
A
3 month rule (date of purchase)
3
Q
Petty Cash Fund
ERA REVERSE
A
Establish
Expense - no entry
Reimburse/Replenish
Adjust at Year-End
Reverse at Beginning of next year
4
Q
Bank Reconciliation
A
Bank + DIT + OC = Adjusted Bank Balance
5
Q
Proof of Cash
A
Beginning | Increase in Cash | Decrease in Cash | Ending
6
Q
Proof of Cash
A
For Beginning and Ending
+ DIT, - OC
+ CM, - DM
For This Month
- Last Month, + This Month
