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Exam
Name___________________________________
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) If a company uses the completed contract method rather than the percentage of 1)
completion method, the total profit the company recognizes from the beginning of the
project throughout its completion will be which of the following?
A) The same for both methods.
B) Greater if the completed contract method is used.
C) Greater for the completed-contract method only if the project takes longer than five
years to complete.
D) Greater if the percentage of-completion method is used.
Answer: A
Explanation: A)
B)
C)
D)
2) On Eli Corp's June bank reconciliation, cheques outstanding totaled $5,400. In July, the 2)
corporation issued cheques totalling $38,900. The July bank statement shows that
$26,300 in cheques cleared the bank in July. A cheque from one of Eli Corp's customers
in the amount of $300 was also returned marked "NSF." The amount of outstanding
cheques on Eli's July bank reconciliation should be
A) $18,000. B) $7,200. C) $12,600. D) $17,700.
Answer: A
Explanation: A) $5,400 + $38,900 - $26300 = $18,000
B) $5,400 + $38,900 - $26300 = $18,000
C) $5,400 + $38,900 - $26300 = $18,000
D) $5,400 + $38,900 - $26300 = $18,000
1
3) Vida Corporation gathered the following reconciling information in preparing its July bank 3)
reconciliation:
The adjusted cash balance per books at July 31 is

A) $2,310. B) $4,010. C) $4,160. D) $2,460.
Answer: C
Explanation: A) Calculation: $3,500 + $850 - $20 - $170 = $4,160
B) Calculation: $3,500 + $850 - $20 - $170 = $4,160
C) Calculation: $3,500 + $850 - $20 - $170 = $4,160
D) Calculation: $3,500 + $850 - $20 - $170 = $4,160
4) Which of the following is required for effective control of cash? 4)

A) A reconciliation of the bank balance with the cash balance be prepared twice a year.
B) One person handles the receipts and disbursements of cash.
C) Cash be deposited monthly in a bank.
D) Cheques be pre-numbered.
Answer: D
Explanation: A)
B)
C)
D)
2
5) A credit sale of $2,500, terms 1/20, n/30, should be recorded with which of the following 5)
journal entries?
A) Choice 1 B) Choice 2 C) Choice 3 D) Choice 4

Answer: C
Explanation: A)
B)
C)
D)
6) In 2013, G CO. reported product sales of $717.8 million and trade receivables of $79.4 6)
million. In 2012, product sales were $584.9 million and trade receivables were $71.4
million. What was its receivables turnover ratio for 2013?
A) 9.52 B) 8.64 C) 8.19 D) 9.04
Answer: A
Explanation: A) Calculation: $717.8 ÷ {($79.4 + $71.4) ÷ 2} = 9.52
B) Calculation: $717.8 ÷ {($79.4 + $71.4) ÷ 2} = 9.52
C) Calculation: $717.8 ÷ {($79.4 + $71.4) ÷ 2} = 9.52
D) Calculation: $717.8 ÷ {($79.4 + $71.4) ÷ 2} = 9.52
7) Profit for T Co. in 2013 was $59,156 (in thousands). There was a deduction from profit 7)
on the statement of cash flows for $2,781 (in thousands) for the change in trade
receivables. The trade receivables balance on December 31, 2013 was $79,024 (in
thousands). How much was the trade receivables balance on December 31, 2012?
A) $56,375 B) $76,243 C) $61,937 D) $81,805
Answer: B
Explanation: A) Calculation: $79,024 - $2,781 = $76,243
B) Calculation: $79,024 - $2,781 = $76,243
C) Calculation: $79,024 - $2,781 = $76,243
D) Calculation: $79,024 - $2,781 = $76,243
3
8) Which of the following is true about bad debt expense? 8)
A) It should not appear in the financial statements.
B) It should appear on the statement of financial position as a contra asset.
C) It should appear on the income statement as a contra revenue.
D) It should appear on the income statement as part of selling expenses.
Answer: D
Explanation: A)
B)
C)
D)
9) Under the completed contract method, revenue is recognized 9)

A) when the customer pays.
B) periodically as work is completed.
C) when the product is delivered to the customer.
D) when the initial contract is signed.
Answer: C
Explanation: A)
B)
C)
D)
10) When is revenue recognized under the percentage of completion method? 10)
A) Throughout the project, based upon the amount of cash received from the customer.
B) When construction begins on the project.
C) When the project is complete.
D) Throughout the project, based upon the amount of work completed each year.
Answer: D
Explanation: A)
B)
C)
D)
11) Central Company sold goods for $5,000 to Western Company on March 12 on credit. 11)
Terms of the sale were 2/10, n/30. At the time of the sale, Central recorded the
transaction by debiting Trade Receivables for $5,000 and crediting Sales Revenue for
$5,000. Western paid the balance due on April 9. To record the April 9 transaction,
Central would debit which of the following?
A) Sales discounts for $100. B) Trade Receivables for $5,000.
C) Cash for $5,000. D) Cash for $4,900.
Answer: C
Explanation: A)
B)
C)
D)
4
12) If a customer pays her bill after her account has already been written off, the company 12)
receiving the payment should record the account reinstatement with which of the
following?
A) A debit to bad debt expense.
B) A credit to cash.
C) A credit to bad debt expense.
D) A credit to allowance for doubtful accounts.
Answer: D
Explanation: A)
B)
C)
D)
13) The WD Co. reported revenue of $23,402 million for 2013. Their trade receivables 13)
balance was $3,999 million in 2013 and $3,633 million in 2012. How much cash was
collected from customers?
A) $23,306 B) $23,768 C) $23,036 D) $23,402
Answer: C
Explanation: A) Calculation: $23,402 - ($3,999 - $3,633) = $23,036
B) Calculation: $23,402 - ($3,999 - $3,633) = $23,036
C) Calculation: $23,402 - ($3,999 - $3,633) = $23,036
D) Calculation: $23,402 - ($3,999 - $3,633) = $23,036
14) Bank errors 14)

A) are infrequent in occurrence.
B) are corrected by making an adjusting entry on the depositor's books.
C) must be corrected by debits.
D) occur because of time lags.
Answer: A
Explanation: A)
B)
C)
D)
15) In 2013, T Co. reported a receivables turnover ratio of 11.1 and their competitor, WWW 15)
Co., reported a ratio of 4.6. Which of the following is true?
A) WWW Co. needs to focus on improving their credit and collection process
B) T Co. needs to decrease their ratio in order to improve collection time
C) WWW Co. has done a better job of collecting their receivables than T Co.
D) All of the statements are true
Answer: A
Explanation: A)
B)
C)
D)
5
16) For accounting purposes, cash includes which of the following? 16)
A) IOU's received from employees.
B) A note received from a customer in settlement of an overdue trade account
receivable.
C) Balances on deposit in banks.
D) A post-dated cheque received from a customer.
Answer: C
Explanation: A)
B)
C)
D)
17) What do credit terms of 2/10, n/30 indicate? 17)

A) Two percent discount for early payment is available within ten days of the invoice
date.
B) Two percent discount for early payment is available if the invoice is paid after the
tenth day, but before the thirtieth day of the invoice date.
C) Two percent discount for early payment is available if the invoice is paid before the
tenth day of the month following the month the sale.
D) Ten percent discount for early payment is available if the invoice is paid within two
days of the date of the invoice.
Answer: A
Explanation: A)
B)
C)
D)
18) When do most companies usually recognize revenue as earned and record the revenue? 18)
A) When payment is received
B) When the order is delivered
C) When title and risks of ownership pass to the buyer
D) When the customer's order is received
Answer: C
Explanation: A)
B)
C)
D)
6
19) Prior to the write off of a $30 customer account, Kraft Company had the following 19)
account balances:
What was the net realizable value of the receivables before and after the write-off?
A) Choice A B) Choice B C) Choice C D) Choice D

Answer: A
Explanation: A)
B)
C)
D)
20) If an account is collected after having been previously written off, 20)
A) there will be both a debit and a credit to trade accounts receivable.
B) only the control account needs to be credited.
C) the allowance account should be debited.
D) both statement of earnings and balance sheet accounts will be affected.
Answer: A
Explanation: A)
B)
C)
D)
21) A customer purchased a $200 item at Best Bike Shop, paying with a credit card (VISA). 21)
The merchant is charged a 2% fee by the credit card company. When recording this sale,
the merchant would do which of the following?
A) Credit sales revenue for $196.
B) Credit unearned sales revenue for $200.
C) Credit sales revenue for $200.
D) Debit trade receivables for $200.
Answer: C
Explanation: A)
B)
C)
D)
7
22) In 2013, A Co. reported product sales revenue of $2,514.4 million and trade receivables 22)
of $319.9 million for 2013 and $269.0 million in 2012. What was the cash flow
generated by sales?
A) $2,463.5 million B) $2,565.3 million
C) $2,514.4 million D) $2,194.5 million
Answer: A
Explanation: A) Calculation: $2,514.4 - ($319.9 - $269) = $2,463.5
B) Calculation: $2,514.4 - ($319.9 - $269) = $2,463.5
C) Calculation: $2,514.4 - ($319.9 - $269) = $2,463.5
D) Calculation: $2,514.4 - ($319.9 - $269) = $2,463.5
23) If C Co.'s trade receivables balance was $1,666 million in 2012 and $1,798 million in 23)
2013, what would be the impact on the statement of cash flows?
A) A decrease in cash flow from investing activities
B) An increase in cash flow from operating activities
C) A decrease in cash flow from operating activities
D) An increase in cash flow from investing activities
Answer: C
Explanation: A)
B)
C)
D)
24) Under the allowance method for uncollectible accounts, when a specific account is 24)
written off
A) net earnings will decrease. B) total assets will be unchanged.
C) total assets will increase. D) total assets will decrease.
Answer: B
Explanation: A)
B)
C)
D)
25) An aging of a company's trade receivables indicates that $6,500 is estimated to be 25)
uncollectible. If Allowance for Doubtful Accounts has a $1,200 debit balance, the
adjustment to record bad debts for the period will require a
A) debit to Bad Debts Expense for $6,500.
B) debit to Bad Debts Expense for $7,700.
C) debit to Bad Debts Expense for $5,300.
D) debit to Allowance for Doubtful Accounts for $6,500.
Answer: B
Explanation: A)
B)
C)
D)
8
26) The following information was available to the accountant of Dove Company when 26)
preparing the monthly bank reconciliation:
What was the cash balance per books of Dove Company prior to beginning the bank
reconciliation?
A) $2,336. B) $2,270. C) $2,238. D) $2,354.
Answer: A
Explanation: A) Calculation: $3,450 - $972 + $351 + $58 + $33 - $575 - $9 = $2,336
B) Calculation: $3,450 - $972 + $351 + $58 + $33 - $575 - $9 = $2,336
C) Calculation: $3,450 - $972 + $351 + $58 + $33 - $575 - $9 = $2,336
D) Calculation: $3,450 - $972 + $351 + $58 + $33 - $575 - $9 = $2,336
27) When preparing a bank reconciliation, which of the following would be deducted from 27)
the company's cash balance?
A) Note receivable collected by the bank.
B) Outstanding cheques.
C) Deposits in transit.
D) Bank service charges.
Answer: D
Explanation: A)
B)
C)
D)
9
28) Dobson Corporation gathered the following reconciling information in preparing its 28)
September bank reconciliation:
The adjusted cash balance per bank at September 30 is

A) $15,500. B) $1,775. C) $6,500. D) $9,725.
Answer: C
Explanation: A) Calculation: $11,000 + $4,500 - $9,000 = $6,500
B) Calculation: $11,000 + $4,500 - $9,000 = $6,500
C) Calculation: $11,000 + $4,500 - $9,000 = $6,500
D) Calculation: $11,000 + $4,500 - $9,000 = $6,500
Liberty Company estimates that its annual bad debts approximate 4% of credit sales. Liberty had the following
balances at year-end prior to recording adjusting entries:
29) Following the completion of an aging analysis, the accountant for Liberty estimated that 29)
$1,100 of the receivables would be uncollectible. The year-end adjusting entry to record
bad debt expense would include which of the following?
A) Credit to allowance for doubtful accounts of $1,100.
B) Debit to bad debt expense of $1,000.
C) Debit to bad debt expense of $900.
D) Credit to allowance for doubtful accounts of $1,200.
Answer: D
Explanation: A) Calculation: $100 + $1,100 = $1,200
B) Calculation: $100 + $1,100 = $1,200
C) Calculation: $100 + $1,100 = $1,200
D) Calculation: $100 + $1,100 = $1,200
10
30) When using the allowance method for bad debts, how should bad debt expense be 30)
recorded?
A) When a particular account is written off.
B) Whenever the allowance for doubtful accounts has a debit balance.
C) As an adjusting entry at the end of the accounting period.
D) Whenever the allowance for doubtful accounts has a zero balance.
Answer: C
Explanation: A)
B)
C)
D)
31) The books of Tweed Company provided the following information: 31)
Beginning balances:
Transactions during the year:
Past collection experience has indicated that 1% of credit sales normally is not collected.
Therefore, an adjusting entry for bad debt expense should be made in the amount of which
of the following?
A) $6,500. B) $500. C) $2,500. D) $6,000.
Answer: D
Explanation: A) Calculation: ($1,800,000 × 1/3) × 1% = $6,000
B) Calculation: ($1,800,000 × 1/3) × 1% = $6,000
C) Calculation: ($1,800,000 × 1/3) × 1% = $6,000
D) Calculation: ($1,800,000 × 1/3) × 1% = $6,000
11
32) Under the percentage of completion method, the amount of work completed in a 32)
particular year is typically determined by comparing which of the following?
A) The total costs incurred to date divided by the contract price.
B) The cost incurred that year divided by the contract price.
C) The total costs incurred to date divided by the cash collected to date from the
customer.
D) The costs incurred that year divided by the estimated total costs of the project.
Answer: D
Explanation: A)
B)
C)
D)
33) A company purchased goods on credit with credit terms of 3/15, n/45. Although the 33)
company does not have cash available to pay within the discount period, the manager of
the company is considering borrowing money to take advantage of the discount. In order
to make the appropriate decision, the manager computed the annual interest rate
associated with the sales discount. What is the approximate annual rate?
A) 56%. B) 18%. C) 25%. D) 38%.
Answer: D
Explanation: A) Calculation: [($3 ÷ $97) ÷ 30 days] × 365 days = .38
B) Calculation: [($3 ÷ $97) ÷ 30 days] × 365 days = .38
C) Calculation: [($3 ÷ $97) ÷ 30 days] × 365 days = .38
D) Calculation: [($3 ÷ $97) ÷ 30 days] × 365 days = .38
34) To aid internal control, the individual authorized to sign cheques should be which of the 34)
following?
A) Purchasing agent. B) Accounts payable bookkeeper.
C) Supervisor of receiving. D) Treasurer.
Answer: D
Explanation: A)
B)
C)
D)
35) Albert Company agreed to build a bowling complex for Pins R Us for a price of 35)
$2,000,000. The project is expected to take three years to complete. Albert estimated that
the total cost of the project would be $1,600,000. During the first year, construction costs
amount to $600,000. If Albert uses the percentage of completion method, how much
revenue will be recognized for the first year?
A) $750,000. B) $600,000. C) $0. D) $150,000.
Answer: A
Explanation: A) Calculation: $2,000,000 × $600,000/$1,600,000 = $750,000
B) Calculation: $2,000,000 × $600,000/$1,600,000 = $750,000
C) Calculation: $2,000,000 × $600,000/$1,600,000 = $750,000
D) Calculation: $2,000,000 × $600,000/$1,600,000 = $750,000
12
36) A high receivables turnover ratio indicates 36)
A) customers are making payments slowly.
B) the company's sales are increasing.
C) a large proportion of the company's sales are on credit.
D) customers are making payments very quickly.
Answer: D
Explanation: A)
B)
C)
D)
37) The balance in Allowance for Doubtful Accounts would have a debit balance when 37)
A) an uncollectible account is later recovered.
B) write-offs during the year have been less than previous provisions.
C) write-offs during the year have exceeded previous provisions.
D) the percentage of receivables basis is used.
Answer: C
Explanation: A)
B)
C)
D)
38) If a company has the opportunity to take a discount of 2/10, n/30 but must borrow money 38)
at an annual rate of 16%, what would be the net advantage of taking the discount?
A) 8.3% B) 8.8% C) 21.2% D) 20.5%
Answer: C
Explanation: A) Calculation: {[($2 ÷ $98) ÷ 20 days] × 365 days} - .16 = .212
B) Calculation: {[($2 ÷ $98) ÷ 20 days] × 365 days} - .16 = .212
C) Calculation: {[($2 ÷ $98) ÷ 20 days] × 365 days} - .16 = .212
D) Calculation: {[($2 ÷ $98) ÷ 20 days] × 365 days} - .16 = .212
39) Upon completing an aging analysis of trade receivables, the accountant for Rosco Works 39)
estimated that $5,000 of the current $98,000 of trade receivables would be uncollectible.
The allowance for doubtful accounts had a $400 credit balance at year-end prior to
adjustment. What amount of bad debt expense should appear in Rosco's income
statement for the year?
A) $5,000. B) $5,400. C) $4,600. D) $0
Answer: C
Explanation: A) Calculation: $5,000 - $400 = $4,600
B) Calculation: $5,000 - $400 = $4,600
C) Calculation: $5,000 - $400 = $4,600
D) Calculation: $5,000 - $400 = $4,600
13
40) A company had the following partial list of account balances at year-end: 40)
What amount of Net Sales would be shown on the income statement?

A) $57,200. B) $64,200. C) $55,700. D) $56,000.
Answer: D
Explanation: A) Calculation: $57,200 - $500 - $700 = $56,000
B) Calculation: $57,200 - $500 - $700 = $56,000
C) Calculation: $57,200 - $500 - $700 = $56,000
D) Calculation: $57,200 - $500 - $700 = $56,000
41) The revenue recognition principle indicates that revenue should be recognized in the 41)
accounting records
A) when it is earned.
B) in the period that income taxes are paid.
C) when cash is received.
D) when expenses are incurred.
Answer: A
Explanation: A)
B)
C)
D)
42) On Liberty's income statement for the year, what would bad debt expense amount to? 42)
A) $6,500. B) $6,300. C) $6,400. D) $5,200.
Answer: C
Explanation: A) Calculation: $160,000 × 4% = $6,400
B) Calculation: $160,000 × 4% = $6,400
C) Calculation: $160,000 × 4% = $6,400
D) Calculation: $160,000 × 4% = $6,400
14
43) The following information was available to the accountant of Midland Company when 43)
preparing the monthly bank reconciliation:
What is the corrected cash balance per books following completion of the reconciliation?
A) $430. B) $620. C) $645. D) $120.
Answer: B
Explanation: A) Calculation: $145 - $25 + $500 = $620
B) Calculation: $145 - $25 + $500 = $620
C) Calculation: $145 - $25 + $500 = $620
D) Calculation: $145 - $25 + $500 = $620
44) Liberty estimates that its annual bad debts approximate 4% of credit sales. What would 44)
the net realizable value of the receivables on Liberty's year-end balance sheet be?
A) $23,600. B) $23,700. C) $29,900. D) $23,500.
Answer: B
Explanation: A) Calculation: $30,000 - (-$100 + $6,400) = $23,700
B) Calculation: $30,000 - (-$100 + $6,400) = $23,700
C) Calculation: $30,000 - (-$100 + $6,400) = $23,700
D) Calculation: $30,000 - (-$100 + $6,400) = $23,700
15
45) An NSF cheque should appear in which section of the bank reconciliation? 45)
A) Addition to the balance per bank.
B) Deduction from the balance per books.
C) Deduction from the balance per bank.
D) Addition to the balance per books.
Answer: B
Explanation: A)
B)
C)
D)
46) A customer purchased $2,000 of goods on credit from Holiday Party Supply on May 1. 46)
The customer received the bill on May 15 and mailed a $2,000 cheque on May 28.
Holiday received the cheque on May 30. In recording this transaction, Holiday should
credit Sales Revenue for $2,000 on which of the following dates?
A) May 1. B) May 28. C) May 30. D) May 15.
Answer: A
Explanation: A)
B)
C)
D)
47) Following the completion of an aging analysis, the accountant for Liberty estimated that 47)
$1,100 of the receivables would be uncollectible. What would the net realizable value of
the receivables on Liberty's year-end balance sheet be?
A) $30,100. B) $28,900. C) $29,900. D) $28,800.
Answer: B
B) Calculation: $30,000 - $1,100 = $28,900
C) Calculation: $30,000 - $1,100 = $28,900
D) Calculation: $30,000 - $1,100 = $28,900
16
48) Under the allowance method for uncollectible accounts, when a year-end adjustment is 48)
made for estimated uncollectible accounts,
A) liabilities decrease. B) net earnings is unchanged.
C) total assets decrease. D) total assets are unchanged.
Answer: C
Explanation: A)
B)
C)
D)
49) In 2013, C Co. reported net sales revenues of $19.8 billion and cost of goods sold for 49)
$6.0 billion. What was their gross profit percentage for 2013?
A) 30.3% B) 76.74% C) 43.5% D) 69.7%
Answer: D
Explanation: A) Calculation: ($19.8 - $6.0) ÷ $19.8 = .697
B) Calculation: ($19.8 - $6.0) ÷ $19.8 = .697
C) Calculation: ($19.8 - $6.0) ÷ $19.8 = .697
D) Calculation: ($19.8 - $6.0) ÷ $19.8 = .697
50) What is the annual interest rate of a sales discount of 2/10, n/30? 50)
A) 37.2% B) 24.3% C) 24.8% D) 36.5%
Answer: A
51) A Co. and G Co. are competitors in the biotechnology market. In 2013, A Co. reported a 51)
gross profit percentage of 86.3% while G Co's percentage was 80.7%. What is the most
likely cause of G Co.'s lower gross profit percentage?
A) Increased product selling prices B) Decreased product costs
C) Larger scale operations than A Co. D) Smaller scale operations than A Co.
Answer: D
Explanation: A)
B)
C)
D)
17
52) Central Company sold goods for $5,000 to Western Company on March 12 on credit. 52)
Terms of the sale were 2/10, n/30. At the time of the sale, Central recorded the
transaction by debiting trade receivables for $5,000 and crediting sales revenue for
$5,000. Western paid the balance due, less the discount, on March 21. To record the
March 21 transaction, Central would debit which of the following?
A) Cash for $5,000. B) Trade receivables for $4,900.
C) Cash for $4,900. D) Trade receivables for $5,000.
Answer: C
Explanation: A) Calculation: $5,000 × 2% = 100
Therefore, the amount to be debited by Central Company would be: $5,000
- $100 = $4,900.
B) Calculation: $5,000 × 2% = 100
- $100 = $4,900.
C) Calculation: $5,000 × 2% = 100
- $100 = $4,900.
D) Calculation: $5,000 × 2% = 100
- $100 = $4,900.
53) Which of the following accounts is always treated as a contra revenue and not as a 53)
selling expense?
A) Net sales B) Purchase returns and allowances
C) Cash equivalents D) Sales returns and allowances
Answer: D
Explanation: A)
B)
C)
D)
54) On the April 30 bank reconciliation, a deposit made by a company to its bank account on 54)
April 18 will appear as a(n)
A) deduction from the balance per books.
B) deduction from the balance per bank.
C) addition to the balance per books.
D) this will not affect the current period's bank reconciliation.
Answer: D
Explanation: A)
B)
C)
D)
18
55) What is the impact of treating sales returns and allowances as a contra revenue but 55)
treating sales discounts and credit card discounts as selling expenses?
A) Gross margin is reduced by sales returns and allowances, sales discounts and credit
card discounts.
B) Gross margin is reduced by sales returns and allowances but all three accounts
cause a decrease in profit from operations.
C) Gross margin is reduced by sales discounts and credit card discounts but all three
accounts cause a decrease in profit from operations.
D) Gross margin is reduced by sales returns and allowance but operating profit is only
reduced by sales discounts and credit card discounts.
Answer: B
Explanation: A)
B)
C)
D)
56) To record estimated uncollectible accounts using the allowance method for uncollectible 56)
accounts, the adjusting entry would be a debit to?
A) Loss on Credit Sales and a credit to Trade Accounts Receivable.
B) Trade Accounts Receivable and a credit to Allowance for Doubtful Accounts.
C) Allowance for Doubtful Accounts and a credit to Trade Accounts Receivable.
D) Bad Debts Expense and a credit to Allowance for Doubtful Accounts.
Answer: D
Explanation: A)
B)
C)
D)
19
57) School Supplies Company made the following journal entries (1) to write off an account 57)
judged to be uncollectible and (2) to record bad debt expense for 20A:
As a result of the first entry only, the book value (net realizable value) of trade receivables
was (a); as a result of the second entry only, the book value (net realizable value) of trade
receivable was (b):

Answer: D
Explanation: A)
B)
C)
D)
58) During 20A, Thomas Company recorded bad debt expense of $15,000 and wrote off an 58)
uncollectible trade receivable amounting to $5,000. Assuming a January 1, 20A, credit
balance in the allowance for doubtful accounts of $10,000, the December 31, 20A,
balance in the allowance account would be which of the following?
A) $25,000. B) $5,000. C) $15,000. D) $20,000.
Answer: D
Explanation: A) Calculation: $10,000 + $15,000 - $5,000 = $20,000
B) Calculation: $10,000 + $15,000 - $5,000 = $20,000
C) Calculation: $10,000 + $15,000 - $5,000 = $20,000
D) Calculation: $10,000 + $15,000 - $5,000 = $20,000
20
59) On a bank reconciliation, which of the following would be deducted from the balance 59)
per bank?
A) Outstanding cheques.
B) Electronic payment by a customer on account.
C) Deposits in transit.
D) Bank service charges.
Answer: A
Explanation: A)
B)
C)
D)
60) On a multiple-step income statement, what happens to the amount of sales returns and 60)
allowances?
A) It is subtracted from net sales to determine gross margin on sales.
B) It is subtracted from gross sales to determine net sales.
C) It is added in the calculation of cost of goods sold.
D) It is subtracted from gross margin on sales to determine net sales.
Answer: B
Explanation: A)
B)
C)
D)
61) Outstanding cheques from the prior period which clear the bank in the current period 61)
A) should be deducted from the balance per books.
B) do not affect the current period's bank reconciliation.
C) should be deducted from the balance per bank.
D) should be added to the balance per books.
Answer: B
Explanation: A)
B)
C)
D)
21
62) Merchandise was sold on credit for $3,000, terms 1/10, n/30. The entry to record the cash 62)
collection should include which of the following?
A) Debit Cash, $3,000, and credit Trade Receivables, $2,970, and Sales Discount, $30,
if collected within the discount period.
B) Debit Cash, $3,000, and credit Trade Receivables, $3,000, if collected after the
discount period.
C) Debit Cash, $3,000, and credit Trade Receivables, $2,970, and Sales Discount, $30,
if collected after the discount period.
D) Debit Cash, $3,000, and credit Trade Receivables, $3,000, if collected within the
discount period.
Answer: B
Explanation: A)
B)
C)
D)
63) Cash equivalents typically include investments with original maturities of which of the 63)
following?
A) Three months or less.
B) One year or the operating cycle, whichever is longer.
C) One year or less.
D) One month or less.
Answer: A
Explanation: A)
B)
C)
D)
64) If a cheque correctly written and paid by the bank for $521 is incorrectly recorded on the 64)
company's books for $251, the appropriate treatment on the bank reconciliation would be
to
A) add $270 to the balance per books.
B) add $270 to the balance per bank.
C) deduct $270 from the balance per books.
D) deduct $270 from the balance per bank.
Answer: C
Explanation: A)
B)
C)
D)
22
65) In recording the year-end adjusting entry for bad debt expense, a company would do 65)
which of the following?
A) Debit trade receivables.
B) Debit allowance for doubtful accounts.
C) Credit allowance for doubtful accounts.
D) Credit trade receivables.
Answer: C
Explanation: A)
B)
C)
D)
66) When credit terms for a sale are 2/15, n/40, the customer saves by paying the bill early. 66)
Approximately what percent would this savings amount to on an annual basis?
A) 30%. B) 20%. C) 37%. D) 18%.
Answer: A
67) When an account is written off using the allowance method for uncollectible accounts, 67)
trade accounts receivable
A) decreases and the allowance account decreases.
B) decreases and the allowance account increases.
C) is unchanged and the allowance account increases.
D) increases and the allowance account increases.
Answer: A
Explanation: A)
B)
C)
D)
68) T Co's gross profit percentage has been increasing in the three years from 2011 through 68)
2013 from 36.5% to 39.8%. This change has most likely been caused by which of the
following?
A) Higher product costs B) Selling products for higher prices
C) Selling products with lower margins D) Discounted prices
Answer: B
Explanation: A)
B)
C)
D)
23
69) Cawthra Limited gathered the following reconciling information in preparing its June bank 69)
reconciliation:
The adjusted cash balance per books at June 30 is

A) $16,500. B) $8,775. C) $16,725. D) $12,000.
Answer: C
Explanation: A) Calculation: $12,000 + $6000 - $75 - $1200 = $16,725
B) Calculation: $12,000 + $6000 - $75 - $1200 = $16,725
C) Calculation: $12,000 + $6000 - $75 - $1200 = $16,725
D) Calculation: $12,000 + $6000 - $75 - $1200 = $16,725
70) Which of the following would not be considered an element of good internal control? 70)
A) Require monthly reconciliation of bank accounts with the cash account.
B) Require that approval for cash payments and the signing of cheques be assigned to
different individuals.
C) Require that all cash receipts be deposited on a daily basis.
D) Require that the individual who handles cash receipts be responsible for the
accounting function related to those funds.
Answer: D
Explanation: A)
B)
C)
D)
71) G Co., which is a biotechnology firm, reported the following revenues on their 2013 71)
income statement: Product sales $582.2 million, Royalties $214.7 million, Contract
revenue $107.0 million and Interest income $64.1 million. Their cost of sales was
reported as $104.5 million. What was their gross profit percentage?
A) 88.4% B) 89.2% C) 82.1% D) 86.9%
Answer: C
Explanation: A) Calculation: ($582.2 - $104.5) ÷ $582.2 = .821
B) Calculation: ($582.2 - $104.5) ÷ $582.2 = .821
C) Calculation: ($582.2 - $104.5) ÷ $582.2 = .821
D) Calculation: ($582.2 - $104.5) ÷ $582.2 = .821
24
72) SRM Company uses the allowance method to record its bad debt expense. When the 72)
account of a particular customer is deemed to be uncollectible and is written off, which
of the following will be included in the journal entry?
A) Credit to bad debt expense.
B) Debit to bad debt expense.
C) Debit to trade receivables.
D) Debit to allowance for doubtful accounts.
Answer: D
Explanation: A)
B)
C)
D)
73) In 2013, T Co.'s gross profit percentage was 39.8% while their competitor, WWW's 73)
percentage was 31.8%. Which was the most likely reason for WWW's lower percentage?
A) Lower selling prices
B) Higher selling prices
C) Lower product cost as a percentage of sales
D) Ability to differentiate their product in consumers' eyes
Answer: A
Explanation: A)
B)
C)
D)
74) Tabor Company had trade receivables of $450,000 and an allowance for doubtful 74)
accounts of $15,500 just prior to writing off as worthless a trade receivable from Fox
Company of $5,000. What was the net realizable value of trade receivables as shown by
the accounting record before and after the write-off?

Answer: D
B) Calculation: $450,000 - $15,500 = $434,500
C) Calculation: $450,000 - $15,500 = $434,500
D) Calculation: $450,000 - $15,500 = $434,500
25
75) One might infer from a debit balance in Allowance for Doubtful Accounts that 75)
A) the percentage of receivables basis is being used.
B) bad debts expense has been overestimated.
C) a posting error has been made.
D) more accounts have been written off than had been estimated.
Answer: D
Explanation: A)
B)
C)
D)
76) Under the allowance method for uncollectible accounts, 76)

A) the net realizable value of trade accounts receivable is greater before an account is
written off than after it is written off.
B) Allowance for Doubtful Accounts is closed each year to Income Summary.
C) the net realizable value of trade accounts receivable in the balance sheet is the same
before and after an account is written off.
D) Bad Debts Expense is debited when a specific account is written off as
uncollectible.
Answer: C
Explanation: A)
B)
C)
D)
77) When goods are sold to a customer with credit terms of 2/15, n/30, the customer will 77)
receive which of the following?
A) A 15% discount if they pay within 30 days.
B) A 15% discount if they pay within 2 days.
C) A 2% discount if they pay within 15 days.
D) A 2% discount if they pay 15% of the amount due within 30 days.
Answer: C
Explanation: A)
B)
C)
D)
78) When is revenue recognized under the completed contract method? 78)
A) Throughout the project as bills are sent to the customer.
B) Throughout the project as cash payments are received from the customer.
C) When construction begins on the project.
D) When the project is complete.
Answer: D
Explanation: A)
B)
C)
D)
26
79) Jackson Company uses the allowance method to account for bad debts. During 20D, a 79)
customer became bankrupt and a receivable of $5,000 was deemed uncollectible. What is
the entry to record the uncollectible amount?

Answer: A
Explanation: A)
B)
C)
D)
80) On February 15, a local business receives an invoice for electricity used in the month of 80)
January and pays it on March 1. In which month should the business recognize the
expense?
A) March B) January
C) February D) No expense should be recorded.
Answer: B
Explanation: A)
B)
C)
D)
27
SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.
81) Oucher Corporation's bank statement included two types of electronic funds 81)
transfers (EFT). One type of EFT totalled $10,000 and was from customers paying
their accounts online. Another type of EFT totalled $16,500 and was from
Yamamoto paying its accounts payable online.
Required:
(a) How will each of these items affect Oucher's bank reconciliation?
(b) Prepare the required journal entries, if any, that Oucher will make to record the
above information on its books.
Answer: (a) Oucher Corporation must add the electronic collections from customers in
payment of their accounts receivable to its cash balance per books on the
bank reconciliation. It must deduct the electronic payments it made in
payment of its accounts payable from its cash balance per books on the bank
reconciliation.
(b)
Explanation:
82) Near the end of 20B, the ledger of Dice Company included the following accounts 82)
and balances:
Cash collections on trade receivables during 20B amounted to $148,500. Sales

revenue during 20B amounted to $200,000, of which 75% was on credit, and it
was estimated that 2% of the credit sales made in 20B would ultimately become
uncollectible. Before adjusting entries were made for 20B, (a) a $600 account was
determined to be uncollectible and written off by Dice and (b) bad debt expense
was recorded to 20B. These adjustments are not reflected in the account balances
above.
28
After the above entries were posted to the ledger, the account balances were as
follows (give the amount under the appropriate debit or credit column):
Answer:
Explanation:
83) On June 1, 20B, Budget Appliance Company sold merchandise on credit at an 83)
invoice price of $1,000; terms 2/10, n/30. Give the journal entries to record the
following:
A. To record the sale.

B. Assumption A: To record collection on June 28, 20B.
C. Assumption B: To record collection on June 9, 20B.
Answer:
Explanation:
29
84) Why is the reconciliation of a company's cash account to the bank statement so 84)
important for effective internal control for cash?
Answer: The reconciliation of the cash account is very important in determining the
correct, up-to-date balance for cash to be presented on the company's
statement of financial position. It is also a good tool for detecting errors in
the cash account.
Explanation:
85) On July 10, 20B, Mighty Company sold merchandise at an invoice price of $5,000 85)
with terms of 3/10, n/30. Give the journal entries required below by indicating the
account code of the appropriate account for each debit and credit and the amounts
involved.
A Cash
B Trade Receivables
C Sales Revenue
D Sales Discounts
Answer:
Explanation:
30
86) On December 31, 20A, Carter Corporation had the following account balances 86)
related to credit sales and receivables prior to recording adjusting entries:
Required:
Present the necessary year-end adjusting entry related to uncollectible accounts for
each of the following independent assumptions:
A. An aging of accounts receivable is completed. It is estimated that $1,950 of the

receivables outstanding at year-end will be uncollectible.
B. It is estimated that .5% of credit sales for the year will prove to be uncollectible.
C. Assume the same information presented in (A) above except that prior to
adjustment, the Allowance for doubtful accounts had a debit balance of $200 rather
than a credit balance of $200.
Answer:
Explanation:
31
87) Red Company received the following October 31, 20C, bank statement: 87)
The cash account reflected the following for October:
The September 30 bank reconciliation showed:

Deposits in transit, $3,000, and outstanding cheques, $500.
Required:
A. What was the amount of the deposits in transit at October 31?

B. What was the amount of outstanding cheques at October 31?
C. Prepare a bank reconciliation for October. Use the following format:
32
D. Give the journal entries that should be made by Red Company based on the
bank reconciliation.
Answer: a. [$38,000 - (40,000 - 3,000)] = $1,000
b. [$36,600 - (38,300 - 500)] = $800
c.
d. Entries
Explanation:
33
Yahoo! Inc. reported the following figures from their financial statements for the years 2010 through 2012:
88) Calculate the gross profit ratio for all three years: 88)
a. 2012 ________
b. 2011 ________
c. 2010 ________
Answer: a. 86.8% (176,528/203,270), b. 84.5% (59,565/70,450), c. 78.0%
(16,768/21,490)
Explanation:
89) You have recently started a part time job in the accounting department of Burris 89)
Limited. The accountant, Ted Landry, had prepared the company's bank
reconciliation for June 2013. After completing the reconciliation he made the
following journal entry:
Ted was reviewing the bank reconciliation with you when unfortunately you
spilled your coffee on it. He asks you to rewrite the reconciliation, in good form.
He remembers that the only outstanding deposit was the last deposit for the month.
You check the general ledger and the bank balance at June 30 was $24,527
(credit). You also check the bank statement and the balance was $22,314 (credit,
i.e. overdrawn). You look up the last deposit for the month—it was for $21,789.
Required: Using the above information prepare, in good form, the bank
reconciliation for Burris Limited for June.
34
Answer:
Note: To solve, you complete the bank reconciliation with the information
you know the outstanding cheques and the adjusted cash per bank will be
unknown. After you arrive at the adjusted balance per books, you enter this
as the adjusted cash per bank and solve for the outstanding cheques.
Explanation:
90) The cash records of Kupper Corp show the following: 90)
1. The June 30 bank reconciliation indicated that deposits in transit totalled $300.
During July, the general ledger account, Cash, shows deposits of $9,700, but the
bank statement indicates that only $9,540 in deposits were received during the
month.
2. The June 30 bank reconciliation also reported outstanding cheques of $1,800.
During July, Kupper Corp's books show that $11,170 of cheques were issued, yet
the bank statement showed that $11,500 of cheques cleared the bank in July.
There were no bank debit or credit memoranda and no errors were made by either
the bank or Kupper Corp.
Required:
(a)Calculate the dollar amount of the deposits in transit at July 31.

(b)Calculate the dollar amount of the outstanding cheques at July 31.
35
Answer: (a) Deposits in transit:
(b) Outstanding cheques:
Explanation:
91) Indicate the effect on a monthly bank reconciliation of each of the items listed 91)
below by placing the appropriate letter to the left of each item.
A. Addition to the balance in the company's Cash account.

B. Deduction from the balance in the company's Cash account.
C. Addition to the balance on the bank statement.
D. Deduction from the balance on the bank statement.
E. Does not affect the reconciliation.
Answer: 1. B; 2. C; 3. B; 4. C; 5. A; 6. D; 7. B
Explanation:
36
92) An inexperienced accountant made the following entries. In each case, the 92)
explanation to the entry is correct.
Required: Prepare the correcting entries.

Answer:
Explanation:
37
93) Indicate whether each of the accounts listed below normally will have a debit or a 93)
credit balance. Record your answer to the left of each account by entering either
Dr or Cr.
____ 1. Allowance for doubtful accounts

____ 2. Bad debt expense
____ 3. Sales returns and allowances
____ 4. Deferred revenue
____ 5. Sales discounts
____ 6. Notes receivable
____ 7. Sales revenue
____ 8. Short-term investments
Answer: 1. Cr; 2. Dr; 3. Dr; 4. Cr; 5. Dr; 6. Dr; 7. Cr; 8. Dr
Explanation:
94) A recent annual report for C Co. contained the following data: 94)
1. Calculate the receivables turnover ratio and average collection period for the
year:
2. Explain the meaning of each number.

Answer: 1.
a. 11.51 (19,805/1,721)
b. 31.7 days (365 days/11.51),
2. The turnover ratio indicates the number of times on average that the
receivables are collected while the average collection period shows the
length of time in days it takes the company to collect its receivables from the
credit customers. The higher the turnover ratio, the less days it takes to
collect our receivables, thereby increasing liquidity of the receivables.
Explanation:
38
95) Western Company sold $4,000 of goods to Southern Company on credit on May 95)
1. At the time of the sale, Western recorded a debit to Trade Receivables and a
credit to Sales Revenue for $4,000. Terms were 2/10, n/30.
Required:
Present the entries Western would record for each of the following independent
situations:
A. Southern paid the balance due, less the discount, on May 10.
B. Southern returned half of the goods for credit on May 4. Paid the balance due,
less the discount, on May 10.
C. Southern paid their bill on May 30 (there were no returns).
Answer:
Explanation:
96) Robertson's Toy World sells a variety of toys at discount prices. The following 96)
transactions occurred on May 16. Consider credit card discount a selling expense.
Required:
39
a. Present journal entries for each of the above transactions.
b. Compute the net sales for the day.
Answer:
If credit card discounts are considered as an operating expense account:

Net Sales = Sales revenue - sales returns and allowances
$509 = (95 + 359 + 100) - 45
Explanation:
97) The records of Topper. Ltd. show the following: 97)
1. In February, deposits per the bank statement totalled $18,850; deposits per
books $19,500; and deposits in transit at February 28 were $1,400.
2. In February, cheques issued per books were $17,750; cheques clearing the bank
were $18,400; and outstanding cheques at February 28 were $1,250.
There were no bank debit or credit memoranda and no errors were made by either
the bank or Topper Ltd.
Required:
(a)Calculate the dollar amount of the deposits in transit at January 31.

(b)Calculate the dollar amount of the outstanding cheques at January 31.
40
Answer: (a) Deposits in transit:
Explanation:
98) Finn Company has just received its June 30 bank statement from City Bank. The 98)
bank statement and the cash account, summarized below, are to be reconciled for
the month of June.
41
Balance, June 1 $6,800
Required:
a. Prepare a bank reconciliation using the following format:
b. Give the journal entries that should be made in the accounts of Finn Company
as a result of the above bank reconciliation.
Answer: A.
42
Answer:
B.
Explanation:
99) The December 31, 2013 statement of financial position of Howson Limited had 99)
Trade Accounts Receivable of $450,000 and a credit balance in Allowance for
Doubtful Accounts of $45,000. During 2013, the following transactions occurred:
service revenue billed on account, $1,500,000; collections from customers,
$1,300,000; accounts written off $37,000; previously written off accounts of
$4,000 were collected.
Required:
(a)Record the 2013 transactions.

(b)If the company uses the percentage of receivables basis to estimate bad debts
expense and determines that uncollectible accounts are expected to be 5% of trade
accounts receivable, what is the adjusting entry at December 31, 2013?
43
Answer:
Explanation:
44
100) During 20A, Lau Inc. recorded credit sales of $1,500,000. Based on prior 100)
experience, it estimates a 1 percent bad debt rate on credit sales. At the beginning
of the year, the balance in trade receivables, net was $100,000. At the end of the
year, but before the bad debt expense adjustment was recorded and before any
bad debts had been written off, the balance in trade receivables, net was $125,000.
1. Assume that on December 31, 20A, the appropriate bad debt expense
adjustment was recorded for the year 20A and trade receivables totalling $10,000
were written off for the year, what was the receivables turnover ratio for the year?
2. Assume that on December 31, 20A, the appropriate bad debt expense
adjustment was recorded for the year 20A and trade receivables totalling $12,000
were written off for the year, what was the receivables turnover ratio for the year?
3. Explain why the answers to parts 1 and 2 differ or do not differ.
Answer: 1. 14.29 ($1,500,000/[100,000 + 110,000]/2),
2. 14.29 (same calculation),
3. The ratio stayed the same because only the adjusting entry affects the
balance of trade receivables, net while the actual write off of customer
accounts simply offset the asset against the contra asset account so that net
receivables do not change.
Explanation:
101) Eddie Corporation uses the allowance method for estimating uncollectible 101)
accounts.
Required:
Prepare entries to record the following transactions:
45
Answer:
Explanation:
46
102) "Toys 4 U" has reported the following information on their income statements for 102)
the years 2006 through 2010:
1. Compute the gross profit percentage for
a. 2012 ________
b. 2011 ________
c. 2010 ________
d. 2009 ________
e. 2008 ________
2. Has the gross profit ratio for "Toys 4 U" improved over time or worsened?
Explain your reason.
Answer: 1 a. 26.7% (2,979/11,170), b. 30.2% (3,328/11,038), c. 30.6%
(3,040/9,932), d. 30.1% (2,835/9,427), e. 31.3% (2,738/8,746). 2 The gross
profit has been steadily falling between 2008 and 2011. However, in 2012,
"Toys 4 U" gross profit ratio took a sharp and severe drop of 3.5% from
2011. Therefore, the ratio has worsened over time with a severe drop
occurring in the most recent year.
Explanation:
47
103) Indicate the effect on a monthly bank reconciliation of each of the items listed 103)
below by placing the appropriate letter to the left of each item.
A. Addition to the balance in the company's Cash account.

B. Deduction from the balance in the company's Cash account.
C. Addition to the balance on the bank statement.
D. Deduction from the balance on the bank statement.
E. Does not affect the reconciliation.
Answer: 1. B; 2. C; 3. B; 4. C; 5. A; 6. D; 7. B
Explanation:
104) A portion of the statement of earnings for Tea Company is shown below. Provide 104)
the missing account titles and amounts.
Answer: A. Sales revenue

B. $110,000 - $100,000 = $10,000
C. Net sales
D. Cost of goods sold; $100,000 - $25,000 = $75,000
Explanation:
48
105) A portion of the statement of earnings for Sun Company is shown below. Provide 105)
the missing account titles and amounts.
Answer: A. Sales revenue

B. $190,000 - $20,000 = $170,000
C. Gross margin
D. $170,000 - $100,000 = $70,000
Explanation:
106) What are "cash equivalents"? Specifically where would they appear on the 106)
financial statements?
Answer: Cash equivalents are short-term investments that can readily be converted
into cash and whose value is unlikely to change. They normally have
maturities of three months or less. They usually appear with cash on the
statement of financial position as the first listed current asset.
Explanation:
49
107) You are the new manager of Muff Company. The company distributes goods 107)
throughout the Rocky Mountain area. Customers are billed after the shipments
are sent. Most customers pay within two weeks. You notice that one employee is
responsible for opening all incoming payments, recording them in the accounting
records, and depositing all receipts in the bank daily. When asked why this one
person performed all of these duties, you were told that it was more efficient for
one person to handle cash and to keep track of things. If any cash was missing,
responsibility could be easily determined. Do you agree with this arrangement? If
you were to make changes, what would you do, and why?
Answer: Note: Answers may vary. This is definitely not a good system. One person
should not be responsible for the receipt of cash, accounting for cash, and
depositing in the bank. The duties of handling cash and accounting for cash
should definitely be separated. This person could be stealing from the firm;
since he/she is the only one handling the receipt of cash, the theft could
easily be concealed. For example, when a customer pays cash on account,
the employee could debit sales returns and allowances instead of the cash
account. To prevent such an occurrence, different employees should have
the responsibility of receiving cash, accounting for cash, and depositing
cash in the bank on a daily basis.
Explanation:
108) The following information comes from P Co.'s statements of earnings for 2012 and 108)
2011:
1. Compute the gross profit percentage for
a. 2012 ________
b. 2011 ________
2. Provide at least two potential causes for the change in P Co's gross profit
percentage.
Answer: (1) a. 58.3% (13,018/22,348), b. 59.2% (12,392/20,917), (2) P Co. may
have discounted their selling prices to meet competition, increasing costs of
producing their product, a change in the sales mix of their products toward
selling more of the lower margin products, inventory losses and/or higher
storage costs caused by poor management control.
Explanation:
50
TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false.
109) "FOB shipping point" means that title to the shipped goods passes to the buyer when 109)
they are delivered.
Answer: True False
Explanation:
110) All documents should be pre-numbered. 110)

Answer: True False
Explanation:
111) While sales discounts and credit card discounts can only be treated as contra revenues, 111)
sales returns and allowances are treated as either a contra revenue or a selling expense.
Answer: True False
Explanation:
112) An aging of trade accounts receivable schedule is based on the premise that the longer 112)
the period an account remains unpaid, the greater the probability that it will eventually be
collected.
Answer: True False
Explanation:
113) Credit terms "2/10, n/30" mean that if payment is made in two days, a 10% discount will 113)
be given; if not paid within two days, the full invoice price will be due in thirty days.
Answer: True False
Explanation:
114) The gross profit percentage measures the ability to charge premium prices and produce 114)
goods and services at lower cost.
Answer: True False
Explanation:
115) MP Co.'s gross profit percentage decreased from 59.2% in 2012 to 58.3% in 2013. This 115)
means that MP Co.'s cost of goods sold as a percentage of sales has decreased.
Answer: True False
Explanation:
116) Deposits in transit to the bank have not been recorded in the depositor's books but they 116)
have been recorded by the bank.
Answer: True False
Explanation:
117) Journal entries made to update the cash account, after a bank reconciliation has been 117)
prepared, should affect the "Bank Statement" part of the reconciliation rather than the
"Depositor's Books" part of the reconciliation.
Answer: True False
Explanation:
51
118) External auditors are usually employees of the company. 118)
Answer: True False
Explanation:
119) When a company records adjusting entries following the completion of a bank 119)
reconciliation, the cash account is debited for the amount of any deposit in transit.
Answer: True False
Explanation:
120) Under the allowance method for uncollectible accounts, bad debts expense is recorded 120)
when an individual customer defaults.
Answer: True False
Explanation:
121) Under the allowance method for uncollectible accounts, the recovery of an account 121)
receivable results in a credit to the Bad Debt Expense account.
Answer: True False
Explanation:
122) Control activities are most effective when several people are responsible for a given task. 122)
Answer: True False
Explanation:
123) Sales returns and allowances should be deducted from sales revenue when computing net 123)
sales.
Answer: True False
Explanation:
124) Managers, analysts, and creditors use this gross profit percentage to assess the 124)
effectiveness of the company's product development, marketing, and production strategy.
Answer: True False
Explanation:
125) Control over cash disbursements is improved if all expenditures are paid by cheque or 125)
through use of electronic funds transfers.
Answer: True False
Explanation:
126) The Allowance for Doubtful Accounts is a liability account. 126)

Answer: True False
Explanation:
127) For most merchandisers and manufacturers, the required revenue recognition point is the 127)
time of shipment or delivery of goods.
Answer: True False
Explanation:
52
128) The gross profit percentage is computed by taking operating profit divided by net sales. 128)
Answer: True False
Explanation:
129) Bad Debts Expense is a contra account for Trade Accounts Receivable. 129)
Answer: True False
Explanation:
130) A bank reconciliation compares the ending cash balance in the company's records to the 130)
ending cash balance reported by the bank on the monthly bank statement.
Answer: True False
Explanation:
131) The lower the receivables turnover, the more effectively the company has managed their 131)
credit granting and collection activities.
Answer: True False
Explanation:
132) The trade receivable turnover ratio is computed by dividing net sales by net trade 132)
receivables at the end of the year.
Answer: True False
Explanation:
133) The percentage of trade receivables basis of estimating uncollectible accounts ignores the 133)
existing balance in the allowance account when the bad debts adjusting entry is recorded.
Answer: True False
Explanation:
134) The sales returns and allowances account should be reported as a deduction from sales 134)
revenue because it is a contra revenue account.
Answer: True False
Explanation:
135) The reason that we must adjust revenue for the change in trade receivables to convert the 135)
figure to cash collected from customers is that trade receivables represent sales revenue
not collected from customers at the beginning and end of the accounting year.
Answer: True False
Explanation:
136) If the terms are 3/15, n/45 on a credit sale, the customer will save 3% of the invoice price 136)
by paying at least 30 days before the credit period ends.
Answer: True False
Explanation:
53
137) Under the aging method of estimating the allowance for doubtful accounts, the balance 137)
in the allowance account must be considered prior to adjusting for estimated
uncollectible accounts.
Answer: True False
Explanation:
138) Outstanding cheques that appear on a bank reconciliation are those cheques written 138)
during the current and previous periods that have not yet cleared the bank during the
current period.
Answer: True False
Explanation:
139) The responsibility for keeping the records for an asset should be separate from the 139)
physical custody of that asset.
Answer: True False
Explanation:
140) Allowance for Doubtful Accounts is credited when an account is determined to be 140)
uncollectible.
Answer: True False
Explanation:
141) An example of separation of duties is having a cheque signer record cash disbursements. 141)
Answer: True False
Explanation:
142) Errors give rise to unintentional misstatements in the financial statements. 142)
Answer: True False
Explanation:
143) Many merchants accept credit cards for the sale of goods because it can increase the 143)
number of customers.
Answer: True False
Explanation:
144) Both credit card discounts and cash discounts can be recorded either as contra revenues 144)
or as expenses.
Answer: True False
Explanation:
145) It is important to record sales returns and allowances in a separate account so that 145)
management can determine the volume of returns and allowances in order to measure the
quality of their products.
Answer: True False
Explanation:
54
146) Net realizable value is determined by adding the Allowance for Doubtful Accounts to 146)
Trade Accounts Receivable.
Answer: True False
Explanation:
147) A good system of internal control does not require monitoring. 147)
Answer: True False
Explanation:
148) When using the percentage of completion method, revenue is recognized when work on 148)
the contract is completed.
Answer: True False
Explanation:
149) Allowance for Doubtful Accounts is a contra account that is deducted from Trade 149)
Accounts Receivable on the statement of financial position.
Answer: True False
Explanation:
150) It is possible for the allowance account to have a debit balance before the adjusting entry 150)
is recorded.
Answer: True False
Explanation:
151) Deposits in transit that appear on a bank reconciliation are those deposits that were made 151)
during the current month but which were not included by the bank on the current bank
statement.
Answer: True False
Explanation:
152) Under the completed contracted method of accounting for long-term construction 152)
projects, revenue is not recognized until the project is complete.
Answer: True False
Explanation:
153) Sales revenue is measured as the market value of the consideration received, or the book 153)
value of the item sold, whichever is more reliable.
Answer: True False
Explanation:
154) For service companies, revenue is recognized the time at which services are provided. 154)
Answer: True False
Explanation:
55
155) Under the allowance method for uncollectible accounts, the entry to write off an 155)
uncollectible account only involves statement of financial position accounts.
Answer: True False
Explanation:
156) Uncollectible accounts must be estimated because it is not possible to know which 156)
accounts will not be collected.
Answer: True False
Explanation:
157) Under the allowance method for uncollectible accounts, Bad Debts Expense is debited 157)
when an account is deemed uncollectible and must be written off.
Answer: True False
Explanation:
158) Only large companies need to be concerned with a system of internal control. 158)
Answer: True False
Explanation:
159) An authorized signing officer should sign a cheque only after reviewing the appropriate 159)
supporting documentation.
Answer: True False
Explanation:
160) When completing a bank reconciliation, bank service charges should be added to the 160)
cash balance appearing on the bank statement.
Answer: True False
Explanation:
161) The allowance method of accounting for bad debts violates the matching principle. 161)
Answer: True False
Explanation:
162) An effective control activity results when at least two individuals are assigned to one 162)
cash drawer so that each can serve as check on the other.
Answer: True False
Explanation:
56
Answer Key
Testname: C7
1) A
2) A
3) C
4) D
5) C
6) A
7) B
8) D
9) C
10) D
11) C
12) D
13) C
14) A
15) A
16) C
17) A
18) C
19) A
20) A
21) C
22) A
23) C
24) B
25) B
26) A
27) D
28) C
29) D
30) C
31) D
32) D
33) D
34) D
35) A
36) D
37) C
38) C
39) C
40) D
41) A
42) C
43) B
44) B
45) B
46) A
47) B
48) C
49) D
50) A
57
Answer Key
Testname: C7
51) D
52) C
53) D
54) D
55) B
56) D
57) D
58) D
59) A
60) B
61) B
62) B
63) A
64) C
65) C
66) A
67) A
68) B
69) C
70) D
71) C
72) D
73) A
74) D
75) D
76) C
77) C
78) D
79) A
80) B
81) (a) Oucher Corporation must add the electronic collections from customers in payment of their accounts
receivable to its cash balance per books on the bank reconciliation. It must deduct the electronic payments it
made in payment of its accounts payable from its cash balance per books on the bank reconciliation.
(b)
58
Answer Key
Testname: C7
82)
83)
84) The reconciliation of the cash account is very important in determining the correct, up-to-date balance for
cash to be presented on the company's statement of financial position. It is also a good tool for detecting
errors in the cash account.
85)
86)
59
Answer Key
Testname: C7
87) a. [$38,000 - (40,000 - 3,000)] = $1,000

b. [$36,600 - (38,300 - 500)] = $800
c.
d. Entries
88) a. 86.8% (176,528/203,270), b. 84.5% (59,565/70,450), c. 78.0% (16,768/21,490)
60
Answer Key
Testname: C7
89)
Note: To solve, you complete the bank reconciliation with the information you know the outstanding
cheques and the adjusted cash per bank will be unknown. After you arrive at the adjusted balance per
books, you enter this as the adjusted cash per bank and solve for the outstanding cheques.
90) (a) Deposits in transit:
91) 1. B; 2. C; 3. B; 4. C; 5. A; 6. D; 7. B
61
Answer Key
Testname: C7
92)
93) 1. Cr; 2. Dr; 3. Dr; 4. Cr; 5. Dr; 6. Dr; 7. Cr; 8. Dr

94) 1.
a. 11.51 (19,805/1,721)
b. 31.7 days (365 days/11.51),
2. The turnover ratio indicates the number of times on average that the receivables are collected while the
average collection period shows the length of time in days it takes the company to collect its receivables
from the credit customers. The higher the turnover ratio, the less days it takes to collect our receivables,
thereby increasing liquidity of the receivables.
95)
62
Answer Key
Testname: C7
96)
If credit card discounts are considered as an operating expense account:

Net Sales = Sales revenue - sales returns and allowances
$509 = (95 + 359 + 100) - 45
97) (a) Deposits in transit:
63
Answer Key
Testname: C7
98) A.
B.
64
Answer Key
Testname: C7
99)
100) 1. 14.29 ($1,500,000/[100,000 + 110,000]/2),

2. 14.29 (same calculation),
3. The ratio stayed the same because only the adjusting entry affects the balance of trade receivables, net
while the actual write off of customer accounts simply offset the asset against the contra asset account so
that net receivables do not change.
65
Answer Key
Testname: C7
101)
102) 1 a. 26.7% (2,979/11,170), b. 30.2% (3,328/11,038), c. 30.6% (3,040/9,932), d. 30.1% (2,835/9,427), e.

31.3% (2,738/8,746). 2 The gross profit has been steadily falling between 2008 and 2011. However, in
2012, "Toys 4 U" gross profit ratio took a sharp and severe drop of 3.5% from 2011. Therefore, the ratio
has worsened over time with a severe drop occurring in the most recent year.
103) 1. B; 2. C; 3. B; 4. C; 5. A; 6. D; 7. B
104) A. Sales revenue
B. $110,000 - $100,000 = $10,000
C. Net sales
D. Cost of goods sold; $100,000 - $25,000 = $75,000
105) A. Sales revenue
B. $190,000 - $20,000 = $170,000
C. Gross margin
D. $170,000 - $100,000 = $70,000
106) Cash equivalents are short-term investments that can readily be converted into cash and whose value is
unlikely to change. They normally have maturities of three months or less. They usually appear with cash
on the statement of financial position as the first listed current asset.
107) Note: Answers may vary. This is definitely not a good system. One person should not be responsible for
the receipt of cash, accounting for cash, and depositing in the bank. The duties of handling cash and
accounting for cash should definitely be separated. This person could be stealing from the firm; since
he/she is the only one handling the receipt of cash, the theft could easily be concealed. For example, when
a customer pays cash on account, the employee could debit sales returns and allowances instead of the
cash account. To prevent such an occurrence, different employees should have the responsibility of
receiving cash, accounting for cash, and depositing cash in the bank on a daily basis.
108) (1) a. 58.3% (13,018/22,348), b. 59.2% (12,392/20,917), (2) P Co. may have discounted their selling
prices to meet competition, increasing costs of producing their product, a change in the sales mix of their
products toward selling more of the lower margin products, inventory losses and/or higher storage costs
caused by poor management control.
66
Answer Key
Testname: C7
109) FALSE
110) FALSE
111) FALSE
112) FALSE
113) FALSE
114) TRUE
115) FALSE
116) FALSE
117) FALSE
118) FALSE
119) FALSE
120) FALSE
121) FALSE
122) FALSE
123) TRUE
124) TRUE
125) TRUE
126) FALSE
127) TRUE
128) FALSE
129) FALSE
130) TRUE
131) FALSE
132) FALSE
133) FALSE
134) TRUE
135) TRUE
136) TRUE
137) TRUE
138) TRUE
139) TRUE
140) FALSE
141) FALSE
142) TRUE
143) TRUE
144) TRUE
145) TRUE
146) FALSE
147) FALSE
148) FALSE
149) TRUE
150) TRUE
151) TRUE
152) TRUE
153) FALSE
154) TRUE
155) TRUE
156) TRUE
157) FALSE
158) FALSE
67
Answer Key
Testname: C7
159) TRUE
160) FALSE
161) FALSE
162) FALSE
68
Another random document with
no related content on Scribd:
equivalgono da 10 fino a 54: sulla quinta finalmente questi: IIIVX, V,
XX, XXX, IIII, cioè 2, 3, 4, 5, 15, 20, 30, 34.
Bilancie Pompeiane. Vol. I Cap. IV. Storia, ecc.
Piacemi per ultimo constatare che tutte queste bilancie veggonsi

fabbricate con mirabile diligenza, e i contrappesi, æquipondium,
rappresentano teste di donna, o satiri, di squisito lavoro.
Ora per menzionare di tutte le misure publiche che si scoprirono in
Pompei, dirò che alla Porta alla Marina, presso al tempio di Venere,
scorgesi il modulo di capacità per i solidi, e consiste in una pietra di
tufo in forma di rettangolo con tre cavità coniche forate al disotto che
si chiudevano con una placca di metallo e si riaprivano dopo che
s’era verificata la quantità della granaglia.
A qualche distanza poi era un altro congenere monumento, più
grande e più perfetto, che si vorrebbe anzi uno de’ più interessanti
monumenti dell’antichità, trasportato al Museo già Borbonico, ora
Nazionale, in Napoli. Conteneva esso non solamente le misure de’
solidi, ma ben anco quelle de’ liquidi, e ricercandole in
quell’interessantissimo Stabilimento che non ha, cred’io, l’eguale in
ricchezza e quantità d’antiche cose e preziosissime, vi leggerete
ancora la seguente iscrizione, la quale vi farà sapere che Aulo
Clodio Flacco figlio di Aulo e Narceo Arelliano Caledo, figlio di
Narceo, duumviri di giustizia, vennero incaricati, per decreto de’
decurioni, di rettificare le publiche misure.
A . CLODIVS . A . E . FLACCVS . NARCEVS . N . F
ARELLIAN . CALEDVS
D . V . I . D . MENSVRAS . EXÆQUANDAS . EX
DEC . DECR .
Tale rettifica venne, non ha dubbio, eseguita, secondo la pratica

romana, tanto a riguardo dei pesi, che dallo scripulum, pari agli
odierni grammi 1,136 andava all’as, o libra, eguale a grammi
327,187; e dall’as e dupondium che costituivasi di due assi, fino al
centussis, ossieno chilogrammi 32,718; che a riguardo delle misure
lineari e di quelle di superficie e di capacità.
Le misure lineari dividevansi in uncia; palmus, pari a 3 oncie; pes,
che era unità di misura, pari a 4 palmi corrispondente a metri 0,295;
cubitus pari a un piede e mezzo; passus eguale a tre cubiti e un
terzo; decempeda eguale a due passi; actus pari a dodici
decempedi; miliarium pari ad actus 41 2⁄3 , corrispondente a
chilometri 1,475.
Così le misure di superficie suddividevansi in pedes quadrati, di cui
cento formavano lo scripulum, pari a metri quadrati 8; in clima o 30
scripuli; in actus o clima 4; in jugera eguali a 2 actus e formava
l’unità dei quadrati, e nella sua divisione ricorre la partizione
dell’asse in oncie e loro frazioni. Lo jugero era un bislungo di 240
piedi sopra 120, cioè 20,800 piedi quadrati. Un jugero sarebbe pari
agli odierni ari 24 e metri q. 68 e come sarebbesi in addietro in
Lombardia detto d’un’estensione di terreno, che si costituiva di
pertiche e tavole, ed oggi di ettari ed ari, allora si parlava di jugeri,
onde Tibullo, ad indicare uom facoltoso, ha in principio d’una sua
elegia:
Divitias alius fulvi sibi congerat auri

Et teneat culti jugera multa soli. [59]
Poi v’era heredium costituito di due jugeri, richiedendosi 5 heredia a
formare un nostro ettaro, 48 ari e 8 metri q.; centuria di cento
heredia e saltus di 4 centuria.
Le misure di capacità erano: ligula eguale a un decilitro nostro e 14
centilitri; cyathus di 4 ligulæ; acetabulum che era un cyathus e
mezzo; quartarius, o due acetabula pari a odierni litri 1,375, hemina
o due quartarii; sextarius che constava di 2 heminæ; congius di 6
sextarii, modius di 2 1⁄3 congii; urna di un modio e mezzo; amphora,
che era l’unità di misura di capacità e valeva 2 urnæ, corrispondente
a 80 libbre di vino, secondo il computo di Festo, il che monta a litri
26,3995, posto il peso specifico del vino 0,9915. Dieci amphoræ
equivarrebbero a’ nostri ettolitri 2 e 44 decalitri. Finalmente il culeus
pari a 20 amphoræ, sarebbe quanto 5 ettolitri e 28 decalitri de’
nostri.
Delle Monete ho superiormente spiegato non constarmi che in
Pompei se ne coniassero di particolari e ne fornii le ragioni, e se
Roma ne fece battere nella Campania, si sa che vi adoprasse il tipo
nazionale del Giano bifronte e la prora di nave. Sulle monete della
Magna Grecia, fra le città della quale annoverar si deve Pompei, in
luogo dei rostri, vedesi in rilievo il bove colla testa umana, sotto cui
raffigurasi la divinità detta Eubone, che antichissimamente
adoravasi, come simbolo di fertilità, in Neapoli. Di quest’ultima città
poi si hanno moltissime monete antiche in rame ed in argento, le
quali sono di squisito lavoro e presentano diversi tipi. La moneta
romana era quella adunque che negli ultimi suoi anni Pompei usava
ne’ suoi commerci ed usi quotidiani e che fu rinvenuta e si rinviene
tuttora nelle escavazioni. Anche nella Casa del Questore furono
trovate monete romane degli ultimi imperatori di quell’epoca:
egualmente altrove di Nerone, di Tito, Domiziano, Ottone e d’altri.
Darò brevemente alcune nozioni sulla moneta romana e sulla sua
valutazione, nel quale argomento si è ancor lungi dall’avere la
maggiore certezza.
L’asse, parola derivata forse dal nome del suo metallo æs, era una
libbra da 12 once di bronzo non coniato, e costituì la prima unità
monetaria romana. Essendosi al tempo di Servio Tullio impressa su
di esso la figura d’una pecora, ricevette il nome di pecunia.
Venne di poi nel 485 di Roma il denaro, dalle due parole dena æris,
perchè equivalente a dieci assi di bronzo, e fu la prima moneta
d’argento. Il quinario rappresentò la metà del denaro, il sesterzio il
quarto, cioè due assi e mezzo. Spezzati più piccoli furono la libella
pari ad un asse; la sembella a mezzo asse o mezza libbra di bronzo;
il teruncio ad un quarto di libbra.
In seguito queste monete subirono variazioni: al fine della prima
guerra cartaginese, l’asse fu ridotto a sole due once; nell’anno 537
l’asse scese al peso d’un’oncia; il danaro si sollevò a sedici assi, il
quinario a otto, il sesterzio a quattro. La legge Papiria del 562
abbassò l’asse a mezz’oncia di rame, nè restò più che moneta di
conto, divenuto unità monetaria il sesterzio.
E qui giova avvertire che il sestertius non vuol essere scambiato pel
sestertium, moneta di conto che valeva mille sestertii.
La prima moneta d’oro fu battuta dai Romani nel 547 alla ragione
d’uno scrupulum per 20 sesterzj. Poi si battè l’aureus, detto anche
solidus pari a 100 sestertii e a 23 denarii.
Dureau de la Malle, nel suo libro dell’Economia de’ Romani,
pareggia il denaro al principio della Republica a L. 1.63; sotto
Cesare a L. 1.12; sotto Augusto a L. 1.08; sotto Tiberio a L. 1; sotto
Claudio a L. 1.05: sotto Nerone a L. 1.02; sotto gli Antonini a L. 1.
La libbra d’oro, di cui sovente nelle scritture antiche si parla, può
valutarsi a L. 900: a 75 quella d’argento. Sul declinare dell’impero, la
libbra d’oro valse L. 1066.
Così abbiamo un primo cenno a quella fluttuazione, od altalena nei
valori, che ora alla Borsa vien designata colle parole rialzo e ribasso,
o più comunemente colle forestiere di la hausse et la baisse, su cui
si specula da’ mercadanti e non mercadanti, che sono la vera e più
funesta piaga della odierna società, causa spesso come di
improvvise fortune colossali, così di subite e precipitose ruine.
«Nel trattato d’Antioco coi Romani, riferito da Polibio e Tito Livio
(scrive C. Cantù, alla cui Storia degli Italiani debbo parecchie notizie
per questo mio libro), si stipula che il tributo si paghi in talenti attici di
buon peso, e che il talento pesi ottanta libbre romane. Sapendo
d’altro luogo che il talento era seimila dramme, otterremo il peso
della dramma = grani 82 1⁄7 . Il talento attico può approssimare a lire
seimila.» [60]
La esistenza constatata in Pompei di due publici alberghi, l’uno detto
di Albino e l’altro di Giulio Polibio e di Agato Vajo, scoperto il primo
nel 1769 e l’altro nel successivo anno, mi trae a dire di altra
istituzione che s’ha ragione di supporre esistente in Pompei, quella,
cioè, della posta.
Imperocchè nel primo singolarmente, dove vedesi una porta larga
undici piedi e mezzo colla soglia senza scaglione e piano,
accessibile quindi a’ veicoli, si rinvennero ruote, ferri e bardamenti di
cavalli e si ritenne però che qui potesse sostare la posta. Svetonio
nella vita di Ottaviano Augusto, rammenta come questo imperatore
la stabilisse sulle vie consolari, con rede, essede e plaustri, e vi
attivasse corrieri in tutte le mansiones, che così appunto
appellavansi le stazioni postali. Siffatto sistema, prestando fede ad
Erodoto, sarebbe stato imaginato dai Persi, e Senofonte lo conferma
narrando di Ciro che nella spedizione contro gli Sciti, fissasse le
poste del suo reame circa cinquecento anni avanti Cristo. Tiberio
avrebbe d’assai vantaggiata l’introduzione d’Augusto; vuolsi anzi vi
ideasse forme analoghe alle nostre. — In quest’albergo di Albino la
posta doveva avere la sua mansione; a differenza dell’albergo di
Giulio Polibio e Agato Vajo, nel quale trovato essendosi gli avanzi di
tre carri, — i cui cerchi di ferro si conservano al Museo Nazionale di
Napoli — con fontane e abbeveratoj di animali e questa iscrizione:
C . CVSPIVM . PANSAM
ÆD . MVLIONES . VNIVERSI
AGATO . VAIO
coll’altra sottoposta:
IVLIVS . POLIBIVS . COLLEGA . FECIT [61]
si è già indotti a credere che fosse meglio uno stallazzo da mulattieri.

Con ciò per altro non credo sostenere che a questa istituzione della
posta, valevole al trasporto de’ passeggieri, quella fosse pure
congiunta del trasporto regolare delle lettere, come si vede praticato
in oggi; perocchè questa bella ed utilissima invenzione de’ cui
vantaggi tutta gode presentemente la parte civile del mondo, non
fosse ancor conosciuta, venendo assegnata ad epoca d’assai
posteriore ed a merito de’ Veneziani. V’erano bensì staffette,
latinamente dette veredarii, ma queste non portavano che i publici
dispacci. I privati, che volevano carteggiare co’ lontani, doveano
quindi servirsi con grave loro spesa di messi appositi, detti tabellarii,
ossia portalettere, o procacci, come più propriamente qui dovrebbesi
dire [62].
Meglio posso dire della lingua che si parlava in Pompei. Ben osservò
Gibbon come i Romani fossero così persuasi della influenza della
lingua sui costumi nazionali, che più seria cura di essi fosse quella di
estendere col progresso delle loro armi l’uso eziandio della loro
lingua [63], e sappiamo anzi a proposito dal summentovato Svetonio,
come l’imperatore Claudio degradasse un ragguardevole greco
perchè non sapesse la lingua latina [64].
Se la lingua di Cicerone e Virgilio — sebbene con qualche inevitabile
miscuglio di corruzione — fu così universalmente adottata sin nelle
province dell’Africa, della Spagna, della Gallia, della Britannia e della
Pannonia; se della sola Spagna ebbe la latinità que’ chiari scrittori
che furono i due Seneca, Marziale, Lucano, Columella e Quintiliano,
è presto argomentato com’essa divenisse per tutta Italia non solo la
lingua ufficiale, ma ben anco la parlata ed anche in Pompei fosse,
nella classe almeno meglio educata, la più generalmente usata.
Taluni per altro pretesero voler desumere da ciò che da queste classi
meglio educate pur si usasse del greco idioma, che dunque fosse
l’antica lingua parlata in Pompei, e trarne perfino illazioni intorno alle
origini; ma non credo che ciò sia esattamente vero. Imperocchè il
succitato Gibbon giustamente osservasse come la vittoriosa Roma
fosse ella stessa soggiogata dalle arti della Grecia. «Quegli
immortali scrittori — scrive egli — che fanno ancora l’ammirazione
della moderna Europa, presto divennero l’oggetto favorito dello
studio e dell’imitazione nell’Italia e nelle province occidentali. Ma non
portavano danno le geniali occupazioni dei Romani alle radicate
massime della loro politica. Mentre si riconoscevano le bellezze della
lingua greca, sostenevano la dignità della latina; e l’uso esclusivo
della seconda fu conservato inflessibilmente nell’amministrazione sì
del governo civile che del militare. I due linguaggi esercitavano nel
tempo istesso la loro separata giurisdizione per tutto l’impero; il
primo come naturale idioma della scienza, il secondo come il dialetto
legale degli atti publici. Quelli che univano le lettere agli affari erano
egualmente versati nell’uno e nell’altro, ed era quasi impossibile in
qualunque provincia di trovare un suddito romano di una educazione
liberale, che non sapesse nel tempo stesso la lingua greca e la
latina.» [65]
Così può spiegarsi il promiscuo uso in Pompei dei due linguaggi,
senza per questo correre a diverse supposizioni. Piuttosto
ammetteremo che l’origine osca degli abitatori di Pompei, da me
riferita, venisse attestata dalle molte iscrizioni trovate negli scavi e di
cui si hanno dotte interpretazioni nel Giornale di essi che si stampa a
Napoli, e se devesi ritenere quanto con certo fondamento si sostiene
da parecchi scrittori e dal Fontanini che il popolo non si valesse nel
famigliare linguaggio della lingua latina, ma sì de’ dialetti speciali,
come si sa che infatti antichissimi fossero il Sabino, l’Etrusco ed il
Veneto, io credo che una prova di tale opinione si abbia in ciò che i
Pompejani alla loro volta avessero conservato il dialetto osco e lo
parlassero volgarmente. Detti e motti graffiti in questa lingua sulle
muraglie delle case suffragano validamente una tal prova.
Se latina era dunque la lingua generalmente parlata dalle classi più
elevate, e se osca quella usata dal basso popolo in Pompei; latina
era pure quella che generalmente solevano scrivere e l’ufficiale; non
escludendo per altro che gli uomini più letterati si servissero assai
della greca, quantunque meno frequentemente negli ultimi tempi che
in addietro.
A ciò attestare, si rinvennero negli scavi tanto d’Ercolano che di
Pompei, più per altro in quella città che in questa, non pochi papiri, i
quali, appunto perchè nella più parte riflettenti studj, anzichè atti o
scritture attinenti agli affari, furono nella massima parte dettati nella
lingua greca [66]. Sebbene codesti molti cimelj non abbiano ancora di
assai avvantaggiata la storia od altro ramo dello scibile umano;
tuttavia non è detto che quegli che non sono per anco svolti e
pubblicati non abbiano ad essere di maggiore interesse.
Ho detto svolti, perchè quali vennero trovati, non figurano che
altrettanti pezzi di carbone, così resi dalle ardenti materie onde
furono avvolti, nè par vero che siasi potuto vincere la loro rigidità e
spiegarli e renderli atti alla lettura. C. Rosini aveva nel 1793 in Napoli
edito due tomi di questi scritti ercolanesi sotto il titolo
Herculanensium voluminum quæ supersunt. Il Canonico De-Jorio fin
dal 1823 in Napoli nella sua Officina de’ papiri ne fece la descrizione
e più Volumi di que’ papiri trascritti sono omai fatti di pubblica
ragione; qualche migliajo ancora attende la medesima sorte. De
Mürr fin dal 1804 aveva in Parigi pur mandato per le stampe un suo
commento intorno ai papiri greci scoperti in Ercolano De papyris seu
voluminibus herculanensibus commentatio, e Hayter in Londra nel
1810 un suo lavoro dal titolo A report upon the herculaneum
manuscript.
Si sa che i papiri e le pergamene fossero la carta usata più
comunemente in que’ tempi per le scritture: quelli costituiti da fili di
un giunco cresciuto sulle sponde del Nilo, avente un tal nome e però
d’origine egizia; questa di pelle per lo più ovina e derivante il suo
nome da Pergamo, città dell’Asia Minore, dove fu prima usata; le
tavolette cerate, di cui tanto sovente si fa cenno nelle opere antiche,
erano per le più brevi scritture, e chi volesse poi avere più
particolareggiate notizie Dello scrivere degli antichi Romani, consulti
le dottissime dissertazioni edite con questo titolo da Stefano
Morcelli [67].
Egli mostra come fossero fatte queste tavolette incerate che i greci
chiamavano πίνακίδης, o anche δηλτωι dalla loro forma simile alla
lettera Δ, e come vi si andasse sopra con lo stilo o grafio, il quale
solcando la cera a guisa di aratro la terra, diede origine fra’ latini al
vocabolo figurato exarare in significato di scrivere, vocabolo che non
è per anco bandito dal linguaggio de’ nostri curiali, che bene spesso
scrivono esarare una dichiarazione, un atto, e va dicendo.
I biglietti che si spedivano allora così esarati sulla cera, come
vedremo nel venturo capitolo, riferendo una lettera di Plinio il
Giovane, appellavansi codicilli e i pugillares, di cui parla lo stesso
autore nella lettera del libro I delle sue Epistole, contenendo le
suddette tavolette o codicilli, corrispondevano, per un certo rispetto
agli odierni portafogli, poichè servivano a piccole scritture e
annotazioni, non mai ad opere di lunga lena [68].
Le città della Magna Grecia, tra cui, come sa il lettore era Pompei,
ricevendo in tutto l’intonazione da Roma, come nella cultura e nel
gusto, derivando usi e costumi di colà, ne parteciparono anche al
lusso sfrenato.
Già ho detto della quantità e sontuosità delle ville de’ più facoltosi
romani che principalmente possedevano ne’ dintorni di Pompei o nel
golfo napolitano. Lucullo nella vicina Baja profuse tesori: si sa che le
sue cene in Apolline costassero la bagatella di trentaduemila lire
odierne l’una e non occorreva per esse che avesse convitati: a Baja
stessa forò un monte per derivar l’acqua marina alla sua piscina;
Irzio spese dodici milioni di sesterzi a nutrire i suoi pesci, pei quali la
sua villa fu venduta per dieci milioni dei nostri. Argomenti da ciò il
lettore del resto. Siffatto spreco degli epuloni romani portato in
provincia era contagioso: perchè i ricchi di Pompei non lo avrebbero
adottato?
Gli scavi ci hanno rivelato pitture e statue di sublime lavoro,
ornamenti d’oro e gingilli, progresso dell’arte e dell’industria; ma io
ne tratterò in separati capitoli, perocchè valga il prezzo dell’opera il
conoscerne i migliori capolavori. Il Museo Nazionale di Napoli ne va
ricco e costituiscono tutta una storia. Monili e braccialetti, orecchini
ed anelli vi sono leggiadrissimi e tali da cui l’industria odierna
potrebbe cavarne un eccellente partito, e si sa dal trattato delle
pietre preziose di Plinio come fossero anzi gli antichi più avanti di
noi. Marziale ci ricordò come le dita de’ ricchi del suo tempo si
empissero di anelli ed anzi se ne avesse più d’uno per falange, o per
articolazione:
Sardonicas, smaragdos, adamantos, jaspidas uno

Portat in articulo. [69]
Si sa che Lollia, gentildonna romana, comparve ad un banchetto

adorna per otto milioni di perle, delle quali le romane caricavano
perfino i calzaretti. Caligola ne fregiava le prore delle navi e Nerone i
letti delle sue lascivie. Nè si creda valessero meno dell’oggi, se una
sola fu comprata con sei milioni di sesterzj.
Non parlerò qui de’ bagni, degli aromi ed essenze che si
prodigavano, chè m’avverrà di trattarne, meco guidando il lettore alla
visita delle Terme, cui consacrerò speciale capitolo, e così de’
banchetti e d’ogni altra ghiottornia e lautezza, entrate ne’ costumi
pompejani.
Pur degli spettacoli dirò in altro capitolo e vedrà il lettore come teatri,
comico e tragico, e anfiteatro avesse Pompei, e comunque città di
terz’ordine, vi esistesse ludo di gladiatori, serragli di belve riservate
al circo; nè farà più maraviglia il vedere i pompeiani sorpresi dal
cataclisma mentre erano accolti nel vasto anfiteatro, se la libidine di
congeneri passatempi veggiamo solleticata ne’ più strani modi in
tutto il mondo romano; così che a’ giorni di Nerone [70], a cui ci ha
pur condotti la narrazione, rappresentandosi sul teatro l’Incendio del
vecchio Afranio, si diè fuoco davvero alle case e gli istrioni
lasciaronsi padroni di saccheggiarle; e alla rappresentazione del
Prometeo si chiuse con un vero supplizio; quella di Muzio Scevola
col bruciarsi uno schiavo la destra, e un leone avvezzato a divorar
uomini, il fè nel circo con tanto garbo, che il popolo, cui fu presentato
dall’imperatore, ad una voce implorò per esso la libertà.
Ma io stavo per dimenticarmi di accennare che quest’imperatore era
il buon Marco Aurelio, colui la cui filosofia è giudicata una continua
aspirazione al bene de’ suoi simili e ne’ suoi precetti vi è tanta
cristiana umiltà; che il cardinal Barberini, voltandoli nella volgar
lingua, la traduzione dedicasse all’anima sua «per renderla più rossa
che la sua porpora allo spettacolo delle virtù di questo gentile.»
Nè di tutti i costumi pompejani presumo esaurir qui l’argomento, che
altri risulteranno menzionati nel restante dell’opera, nè volli, qui del
pari toccandone, per amor d’ordine, che mi si accusasse dipoi di
inutile ripetizione.
Come in qualunque altra parte d’Italia e d’altre nazioni, anche in
Pompei viveva in mezzo ai suddetti ordini cittadini e in mezzo a quel
civile reggimento, senza parteciparne ai diritti ed ai benefici, una
infelicissima classe di uomini, diseredata e tenuta nè più nè meno di
cosa, a’ quali eran devoluti i pesi maggiori sociali, che si
compravano e si vendevano come giumenti a’ prezzi non di molto
maggiori, che servivano nelle case, a’ capricci spesso di stolti e di
violenti padroni, infrenati da una disciplina severa e crudele, dalle
leggi autorizzata. Questa classe era quella degli schiavi. Per la più
parte Barbari prigionieri per vicenda di guerra usi a vita indipendente
e impazienti di vendicarsi a libertà. Nelle scorse pagine vedemmo
come tentassero ben due volte in massa di rompere i ceppi e per ciò
dessero grande travaglio alla Repubblica. Cesare dalla Gallia ne
aveva menati, stando a Plutarco ed Appiano, un milione; Lucullo dal
Ponto ne traeva tanti da venderli quattro dramme l’uno, cioè meno di
quattro lire per testa: una dramma era nello stesso campo di Lucullo
venduto un bove [71], e Augusto ne scendeva dalle montagne de’
Salassi ben quarantaquattromila.
Mimi e gladiatori da rallegrar circhi ed arene, amanuensi a copiare,
grammatici a corregger libri, danzatrici e suonatrici di flauto, o come
in Grecia, appellavansi auletridi, ad allietare i banchetti ed a
provocare orgie e lascivie, si avevano per lo più da questa povera
gente, e Pompei questi costumi divideva con tutto l’orbe romano, e vi
cresceva stimolo la mollezza del clima, ond’ebbero infausta celebrità
gli ozj campani.
In Pompei inoltre la coltura de’ campi era interamente affidata agli
schiavi ed erano questi i più infelici. Sorvegliati da altri schiavi tenuti
dal padrone in miglior conto, o da’ liberti, che erano stati schiavi un
giorno e fatti poi liberi, severi castighi subivano se recalcitranti o
infingardi.
Dai vigneti coltivati per essi ottenevansi quelle uve, d’onde que’ vini
di Pompei, che al dir di Plinio [72], ebbero fama tra i meglio
accreditati, che non erano bevibili che vecchi di dieci anni, e pur
tanto focosi che chi ne beveva, restava molestato dai dolori di capo
sino all’ora sesta del dì seguente. Certo è che oggidì la natura di
questi vini ha mutato. Persuaso di quel vecchio proverbio:
.... si Romæ vivis, romano vivito more,
nello asciolvere all’albergo del Sole in Pompei, chiesi del vino

paesano, nè fu causa che mi desse al capo. Gli è tuttavia ne’
dintorni, alle falde del Vesuvio, che si spreme il famoso Lacryma
Christi.
Abbondante del resto la vendemmia, come in tutte le terre vicine al
Vesuvio e fin su sulle sue pendici; onde L. Floro, estasiandosi
innanzi a questi luoghi, dicesse la Campania, di cui questa parte che
si specchiava nel Tirreno era la gemma, la plaga più bella d’Italia
non solo, ma dell’Universo, dove in nessun luogo vi fosse cielo più
dolce, terra più ubertosa e dove duplice pei fiori la primavera e i
monti rivestiti di viti e bellissimo fra tutti il Vesuvio: e Marziale
giugnesse a dire, che il Vesuvio verdeggiante per pampinose ombre
e la nobile uva dando laghi di vino, paresse che gli Dei del piacere e
dell’allegria, abbandonate le più care lor sedi, venuti fossero a
dimora sui gioghi del Vesuvio. Uditene i versi che riporto dal Libro IV
de’ suoi Epigrammi, sotto il n. 44:
Hic est pampineis viridis Vesuvius umbris;

Presserat hic madidos nobilis uva lucus.
Hæc juga, quam Nisæ colles, plus Bacchus amavit,
Hoc nuper Satiri monte dedere choros.
Hoc Veneris sedes, Lacedæmone gratior illi,
Hæc locus Herculeo nomine clarus erat [73].
Così Pompei era del pari celebre per le sue pere e ne forniva le più
ricercate mense, come Tivoli le poma; ferace per le messi e per gli
ulivi, e gli scavi ci hanno dato saggi di frumento ed olive appunto,
come altri molti frutti sia naturali che preparati, pane, focaccie ed
altrettali leccornie; nè parrà vero che mentre tutti questi camangiari
appajono anneriti e bruciati dalle ardenti ceneri onde furono investiti,
parte del grano rinvenuto conservasse tuttavia la proprietà vitale, e
seminato, malgrado fossero trascorsi più che diciassette secoli,
germogliasse e porgesse la propria spica e le olive fossero
conservatissime ancora nell’olio.
Virgilio nelle Georgiche aveva la fertilità di queste terre celebrato in
questi versi:
Quæque suo viridi semper se gramine vestit,

Illa tibi lætis intexet vitibus ulmos
Illa ferax oleæ est: illam experiere colendo
Et facilem pecori, et patientem vomeris unci.
Talem dives arat Capua et vicina Vesevo
Ora jugo [74].
Dalle onde poi del Tirreno, che baciavano, frangendosi, il piede alla
voluttuosa Pompei, il pescatore pompejano, tra i cento svariati pesci
traeva in copia il Garo, che or non saprebbesi designare con nome
conosciuto, e con esso facevasi colà il caviale liquido, che nella
bassa Italia si fa tuttavia. «Evvi, dice Plinio, un altro genere di liquore
assai ricercato, al quale si è dato il nome di garum: esso è composto
d’intestini di pesci o d’altre parti che sarebbero diversamente a
gittarsi, e che si fanno macerare nel sale in guisa che divenga
l’effetto della putrefazione. Questo liquore componevasi una volta col
pesce che i Greci chiamavano garon» [75]. Lo stesso Plinio attesta
che Pompei andasse assai lodata, come Clazomene e Lepti, per il
garo [76].
Orazio ne faceva menzione, dicendolo composto di succhi di pesce
iberico:
Garum de succis piscis iberi [77].
Marziale del pari in un suo epigramma:
Sed coquus ingentem piperis consumet acervum:

Addet et arcano mixta falerna garo [78].
E altrove lo stesso poeta:
Nobile nunc sitio luxuriosa garum [79].
Era per ultimo lungo queste amenissime sponde che il Vesuvio

sogguarda, che i medici solevano mandare a curarsi e risanare gli
affetti da mal sottile, e siffatta salubrità di tali luoghi Varrone ricordò
in quelle parole: ubi montana loca ut in Vesuvio, quod leviora et ideo
salubriora, constatataci di poi anche dall’autorità di Polibio e di
Procopio.
Queste erano le condizioni di Pompei ne’ primi anni dell’Era
Cristiana, negli ultimi quindi di sua esistenza, e dei quali io mi faccio
ad intrattenere il lettore.
CAPITOLO V.
Storia.
PERIODO SECONDO — IL CATACLISMA.
T. Svedio Clemente compone le differenze tra Pompeiani

e Coloni — Pompei si rinnova — Affissi publici — La flotta
romana e Plinio il Vecchio ammiraglio — Sua vita — La
Storia Naturale e altre opere. — Il novissimo giorno —
Morte di Plinio il Vecchio — Prima lettera di Plinio il
Giovane a Tacito — Diversa pretesa morte di Plinio il
Vecchio — Seconda lettera di Plinio il Giovane a Tacito —
Provvedimenti inutili di Tito Vespasiano.
Pompei, dopo l’orribile guasto che aveva, pel tremuoto, toccato

nell’anno 63 di Cristo, dileguate mano mano le apprensioni, andava
rimettendosi a nuovo, facendosi, come già dissi, più bella.
A’ romani imperatori della famiglia Giulia, a Galba, Otone e Vitellio,
era nell’anno 70 dell’E. V. succeduta la serie de’ Flavj, e primo di
essi, Tito Flavio Vespasiano. Tra le cure della sua amministrazione
volse pure il pensiero a Pompei ed a delimitare i confini del territorio
della romana republica, occupato nel Pago Felice-Augusto dalle tre
coorti dei veterani, onde componevasi la militare colonia, e togliere
ogni pretesto, per i quali si rinnovassero i dissidj del tempo di Publio
Silla e le ribalde soperchierie, spedì Tito Svedio Clemente, rinomato
giureconsulto e tribuno. Studiò egli le rispettive ragioni de’ cittadini e
de’ coloni; vide la prepotenza di questi ultimi e la violenza, nè
bisognava di molto a capirla, poichè non vi fosse uom dappoco o
fanciullo che a prima giunta non la sentenziasse in quegli avanzi di
guerre astute e ladre; e così saviamente ogni cosa compose e
provvide a’ diritti de’ primi, che grati i decurioni elevarono la sua
statua sur un piedistallo, precisamente sul posto de’ diritti acquistati
e riconosciuti, presso la strada, cioè, dopo l’emiciclo di Mammia
sull’angolo della via che scorge alla villa di Cicerone, scolpendovi a
perenne ricordanza, la seguente onorifica iscrizione:
EX . AVCTORITATE
IMP . CÆSARIS
VESPASIANI . AVG.
LOCA . PVBLICA . A . PRIVATIS
POSSESSA . T . SVEDIVS . CLEMENS
TRIBVNVS . CAVSIS . COGNITIS . ET
MENSVRIS . FACTIS . REI
PVBLICÆ . POMPEJANORVM
RESTITVIT [80].
Il De Jorio die’ conto della statua di Svedio, dicendo che accanto al

muro dell’angolo della strada, in livello molto superiore al suolo
antico si trovò una statua togata di marmo: nella mano sinistra
teneva un volume ed un anello al dito: la testa e le mani
s’incontrarono a piccola distanza: il pilastro che la sosteneva portava
incastrata l’iscrizione [81].
Il benemerito E. Brizio seppe questa statua discernere per quella di
T. Svedio Clemente fra quelle collocate al Museo di Napoli: vi lesse
la sigla S nel castone dell’anello, significante forse sigillum, forse
Svedius, e descrive del personaggio che rappresenta: il volto è
d’uomo avanzato in età, i capelli sono radi ed è calva la fronte; dalla
faccia si presume una complessione gracile del corpo [82].
I duumviri stessi, a secondare le dette conciliazioni, e a prevenire
ulteriori dissidj e conflitti fra cittadini e coloni, provvidero a che questi
ultimi avessero ne’ pubblici spettacoli un posto che non avevano
prima, e l’iscrizione che questo provvedimento testifica, leggeremo
nel capitolo che tratterà de’ teatri.
Eliminati così gli inceppamenti che frappor si potevano al suo
risorgimento, Pompei lo veniva in ogni modo affrettando.
Presso il Foro Civile e la Basilica era maggiore la ressa degli operai
a sgomberare le rovine, a rinnovar le colonne: pietre vulcaniche e
travertino si venivano in que’ luoghi trascinando da’ giumenti; le
case, i templi, gli archi sollecitavano un medesimo lavoro; le vie
erano animate di carri e di popolo, gli Edili sorvegliavano le opere, i
cittadini profondevano l’oro e la fatica degli schiavi alle riparazioni e
come a Roma l’incendio appiccato da Nerone aveva recato il
beneficio di sgomberare di luride casupole e di sostituirvi palagi
marmorei di privati e publici sontuosi edificj, anche a Pompei il
disastro di sedici anni prima, dissipata la naturale paura che
s’avesse a rinnovare, aveva occasionato miglioramenti non pochi.
È così presto dimenticato il dolore e il pericolo corso, quando ogni
cosa sorride d’intorno!
Questo bel cielo che si distende sopra Pompei, questo azzurro mare
che ne bacia il clivo su cui si posa, quella lussureggiante
vegetazione che la circonda, questo aere molle che lusinga i sensi,
questo monte perfino che le sta di fianco, e lievemente fumigando,
sembra ognuno rassicurare che più non sia per ricominciare la sua
lotta interna, nè dare sfogo a furori esteriori, tutto consigliava, tutto
persuadeva al ritorno nelle graziose casette del passato, a
ripopolare la gentile città, a renderla più bella, più ornata, più
delicata.
Pittori, accorsi da Grecia, vi istoriavano le pareti di leggiadri
appartamenti, e preparavano ne’ triclinj e nelle esedre fomiti
irresistibili alle lascivie dei commensali e vi compivano meraviglie di
arte; scultori ne adornavano gli impluvii, i tablini e gli atrii di
vaghissime statue e mosaici; artefici d’ogni maniera fornivano le
ricche suppelletili e gli xisti olezzavano di rose ed oleandri a
profumarne eziandio le camere terrene od ombreggiavansi di
pianticelle e d’arbusti esotici a miglior frescura di esse, e così
ricorreva la vita più giovanile e tumultuosa per le arterie tutte della
graziosa città.
I doviziosi dipingevano sulle muraglie delle case od all’ingresso della
città in caratteri rossi e neri affissi publici di appigionamento; nè sarà
privo di interesse qui trascrivere quello che Giulia Felice, figlia di
Spurio, fe’ pingere in rosso e fu rinvenuto intatto come se fatto jeri,
per chi concorrere voleva all’affitto per cinque anni continui di tutti i
suoi beni. Consistevano questi in un bagno, in un venereo, o luogo
di dissolutezze, ed in novecento taberne, o botteghe, nelle quali si
vendevano merci e gli artefici esercitavano i loro mestieri, colle
pergole, o balconi, sporti all’infuori delle case e co’ cenacoli, o
camere superiori per l’abitazione de’ mercanti, e si lasciava tempo
ad aspirare alla condizione di tali beni da’ sei agli otto d’agosto;
apposta la condizione si quis domi (o damnatum) lenocinium
exerceat ne conducito, espressa nelle sigle iniziali, onde l’affisso si
chiude; se pure non vogliasi assegnare ad esse quella significazione
che vi dà l’illustre Fiorelli, il quale così ristabilirebbe la formula: si
quinquennium decurrerit locatio erit nudo consensu.
IN PRÆDIIS . IVLIÆ . SP . F . FELICIS
LOCANTVR .
BALNEVM . VENERIVM . ET . NONGENTUM . TABERNÆ . PERGVLÆ
CENACVLA . EX . IDIBUS . AVG . PRIMIS . IN . IDVS . AVG . SEXTAS
ANNOS . CONTINVOS . QVINQVE
S . Q . D . L . E . N . C . [83]
Altra iscrizione pure fu trovata sul pilastro di una casa, la qual

significa che nell’isola Arriana Polliana di Gneo Alifio e Virginio
Maggiore, dalle prime idi di luglio (ossia otto di questo mese), si
affittano le botteghe colle pergole ed i cenacoli equestri, convenendo
il conduttore della casa con Gneo Alfio Maggiore.
INSVLA . ARRIANA
POLLIANA . GN . ALIFI . NIGIDI . MAI .
LOCANTVR . EX . I . IVLIIS . PRIMIS . TABERNÆ
CVM . PERGULIS . SVIS . ET . CŒNACVLA
EQVESTRIA . ET . DOMVS . CONDVCTOR .
CONVENITO . PRIMVM . GN . ALIFI
NIGIDI . MAI . SER .
La brevità del tempo concessa al concorso spiega la ricerca de’
locali e la tornata affluenza della popolazione in Pompei.
E con essa la foga delle gazzarre e de’ publici divertimenti.
Plauto e Terenzio somministravano al Teatro Comico le loro
composizioni. Ovidio la sua Medea e Seneca e i Greci tragedi le loro
opere al Teatro Tragico: il ludo de’ gladiatori ristabilito provvedeva
all’anfiteatro: i magistrati così di Pompei con siffatte lusinghiere
illecebre venivano richiamando le famiglie che sgomente l’avevano
abbandonata.
E i vicini traevano pur di nuovo alle sue feste; gli antichi usi, le
consuetudini prische, la voluttuosa vita, gli amori avevano come
prima, meglio di prima ripreso.
Venere Fisica vedeva nel suo tempio ripigliato il culto dalla prediletta
città cui dava anche il nome. Giove, Giunone ed Esculapio
accoglievano nei rispettivi loro templi voti e sagrificj, e l’egizia Iside si
rifaceva più venerata del bando cui era stata posta dall’Urbe co’ suoi
bugiardi e disonesti misteri.
La fama per ultimo aveva già susurrato la buona novella, che non
aveva ancora dichiarati credenti lungo tutte queste sponde, ma che
sapevasi come già percorresse le diverse provincie, a sostituir quella
fede che più non era profonda nei Numi, e ad abbattere quegli altri
altari, che ormai, più che dalla convinzione, erano dall’abitudine e dal
dovere frequentati, perchè quei riti erano collegati al modo di vivere
ed alle leggi connessi.
Era il prim’anno di Tito Vespasiano quando Pompei presentava tutto
questo superbo spettacolo di vita e di prosperità, — e siccome mi
avverrà di riferire tra breve l’immaturo fine di quel dottissimo e
celebre naturalista che fu Cajo Plinio il Vecchio, uopo è che a questo
punto informi il lettore del perchè l’illustre Comasco vi si avesse a
trovare.
Le due più importanti stazioni navali di Roma a’ tempi dell’impero,
riferisce Tacito avere Augusto stabilito a Ravenna ed a Miseno, dove
appunto ha principio, come sa il lettore, il bellissimo golfo di Napoli.

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The adjusted cash balance per books at July 31 is

4) Which of the following is required for effective control of cash? 4)

A) Choice 1 B) Choice 2 C) Choice 3 D) Choice 4

9) Under the completed contract method, revenue is recognized 9)

14) Bank errors 14)

17) What do credit terms of 2/10, n/30 indicate? 17)

A) Choice A B) Choice B C) Choice C D) Choice D

The adjusted cash balance per bank at September 30 is

Transactions during the year:

What amount of Net Sales would be shown on the income statement?

A) Choice A B) Choice B C) Choice C D) Choice D

The adjusted cash balance per books at June 30 is

A) Choice A B) Choice B C) Choice C D) Choice D

76) Under the allowance method for uncollectible accounts, 76)

A) Choice A B) Choice B C) Choice C D) Choice D

Cash collections on trade receivables during 20B amounted to $148,500. Sales

A. To record the sale.

A. An aging of accounts receivable is completed. It is estimated that $1,950 of the

The cash account reflected the following for October:

The September 30 bank reconciliation showed:

A. What was the amount of the deposits in transit at October 31?

(a)Calculate the dollar amount of the deposits in transit at July 31.

(b) Outstanding cheques:

A. Addition to the balance in the company's Cash account.

Required: Prepare the correcting entries.

____ 1. Allowance for doubtful accounts

2. Explain the meaning of each number.

If credit card discounts are considered as an operating expense account:

97) The records of Topper. Ltd. show the following: 97)

(a)Calculate the dollar amount of the deposits in transit at January 31.

(b) Outstanding cheques:

a. Prepare a bank reconciliation using the following format:

(a)Record the 2013 transactions.

Prepare entries to record the following transactions:

1. Compute the gross profit percentage for

A. Addition to the balance in the company's Cash account.

Answer: A. Sales revenue

Answer: A. Sales revenue

1. Compute the gross profit percentage for

110) All documents should be pre-numbered. 110)

126) The Allowance for Doubtful Accounts is a liability account. 126)

87) a. [$38,000 - (40,000 - 3,000)] = $1,000

88) a. 86.8% (176,528/203,270), b. 84.5% (59,565/70,450), c. 78.0% (16,768/21,490)

(b) Outstanding cheques:

93) 1. Cr; 2. Dr; 3. Dr; 4. Cr; 5. Dr; 6. Dr; 7. Cr; 8. Dr

If credit card discounts are considered as an operating expense account:

(b) Outstanding cheques:

100) 1. 14.29 ($1,500,000/[100,000 + 110,000]/2),

102) 1 a. 26.7% (2,979/11,170), b. 30.2% (3,328/11,038), c. 30.6% (3,040/9,932), d. 30.1% (2,835/9,427), e.

Piacemi per ultimo constatare che tutte queste bilancie veggonsi

Tale rettifica venne, non ha dubbio, eseguita, secondo la pratica

Divitias alius fulvi sibi congerat auri

si è già indotti a credere che fosse meglio uno stallazzo da mulattieri.