You, as the cashier, check the accuracy of your Cash account by ascertaining whether the cash in
Question:
You, as the cashier, check the accuracy of your Cash account by ascertaining whether the cash in hand matches the amount stated as the balance in the Cash account.
Tick the appropriate grid to identify the amount by which the cash physically in your hand will differ from the Cash account balance if the only mistake is each of the following:
(a) £4,620 paid for purchasing goods for sale is recorded on the payment side of the Cash account as £462
(b) £460 received from sales is not recorded at all in the Cash account
(c) £620 paid for stationery was recorded on the payment side of the Cash account as £260
(d) £106 paid for staff tea was not recorded at all in the Cash account
(e) £1,200 paid for office furniture was recorded on the payment side of the Cash account but stated as purchases
(f) £165 paid for advertising was recorded on the receipt side of the Cash account
Step by Step Answer:
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict