The actual cash received from the day's cash sales was $9,380 and the amount indicated by the
Question:
a. What is the amount deposited in the bank for the day's sales?
b. What is amount recorded for the day's sales?
c. How should the difference be recorded?
d. If a cashier is consistently over or short, what action should be taken?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
a 9380 b 9300 c The cash o...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
The actual cash received from cash sales was $36,183, and the amount indicated by the cash register total was $36,197. Journalize the entry to record the cash receipts and cash sales.
-
The actual cash received from cash sales was $11,279, and the amount indicated by the cash register total was $11,256. Journalize the entry to record the cash receipts and cash sales.
-
The actual cash received from cash sales was $6,973.60, and the amount indicated by the cash register total was $6,932.15. Journalize the entry to record the cash receipts and cash sales.
-
Assuming that the Fed judges inflation to be the most significant problem in the economy and that it wishes to employ all of its policy instruments except interest on reserves, what should the Fed do...
-
(Multiple Choice Question) 1. Mike is an employee at will. Youre fired! says Regina, his boss. Why? asks Mike. Never mind why, Regina replies. I can fire you for any reason at all. Scram! Can Regina...
-
When Krispy Kreme restated its 2004 earnings, what impact did the restatement have on the price of the stock?
-
Division A of Incorrigible Dysfunctionals Limited is the only source of supply for an intermediate product that is converted by Division B into its final saleable form. Most of A's costs are fixed....
-
This was Joel Craig's first visit to the controller's corner office since being recruited for the senior accountant position in May. Because he'd been directed to bring with him his preliminary...
-
Mini-Exercise 15-6 (Algo) Fixed overhead variances LO 4, 5, 6 Acme Company's production budget for August is 18,100 units and includes the following component unit costs: direct materials, $8.0;...
-
1. Based on the facts presented in the case, how should the recruiter analyze the data? Hint: Can the recruiter obtain the information needed to make a decision by simply looking at the worksheet?...
-
The actual cash received from the day's cash sales was $18,125 and the amount indicated by the cash register total was $18,200. a. What is the amount deposited in the bank for the day's sales? b....
-
Identify each of the following reconciling items as: (a) An addition to the cash balance according to the bank statement, (b) A deduction from the cash balance according to the bank statement, (c) An...
-
List three possible ways in which a company might wish to segment its contribution margin income statement.
-
Lets assume that we have project L, which has a 40% chance of turning out good. The company Raises $7,000, 50% from bondholders demanding a 6% interest rate and 50% from stockholders, which becomes...
-
69 Water is flowing at the rate of 0.10 m/s in the vertical pipe system shown. What is most nearly the pressure at point 2? 15 cm 5 cm . a = p. = 75 kPa A. = 0.01 m/8 49.4 kPa 111 kPa C. 275 kPa 675...
-
Consider an experimental exhaust system as shown in Figure Q5. The exhaust system can be considered as a Venturi device. The cross-section of the entire exhaust system is circular and the diameter of...
-
On November 1, 2022, you borrow $350 cash from a loan store. The terms of the loan require that you pay 4 equal monthly installment payments starting on December 1st and due on the 1st of each month...
-
Looking back and learning from past experiences can often help propel you into the future. Tell the class about a time in your life when you experienced success. How can you draw upon that experience...
-
Skebba, a salesman, worked for many years for a company that eventually experienced serious financial difficulties. Kasch, with his brother, owned M.W. Kasch Co. Kasch hired Skebba as a sales...
-
Audrey purchases a riding lawnmower using a 2-year, no-interest deferred payment plan at Lawn Depot for x dollars. There was a down payment of d dollars and a monthly payment of m dollars. Express...
-
The debits and credits from four related transactions are presented in the following T accounts. Describe eachtransaction. Accounts Payable (1) Cash (2) (4) (3) 250 500 8,000 7,350 (4) 7,500...
-
Versailles Co., a womens clothing store, purchased $18,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. Versailles Co. returned $3,000 of the merchandise, receiving a...
-
Journalize entries for the following related transactions of Westcoast Diagnostic Company: a. Purchased $25,000 of merchandise from Presidio Co. on account, terms 2/10, n/30. b. Paid the amount owed...
-
In the course, we understood that there are certain key financial reports for the healthcare services organization. The Balance Sheet, Operating Statement (Income Statement; Revenue/Expense...
-
Very Cool, Inc, has a 2023 net Sec. 1231 gain of $110,000 and had a $124,000 net Sec. 1231 loss in 2022. For 2023, Very Cool's net Sec. 1231 gain is treated as a. None of the choices presented are...
-
Which of the following lines on the Income Statement is most helpful in reviewing a company's operational efficiencies? A. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) B....
Study smarter with the SolutionInn App