Brief Exercise 5-5

While examining cash receipts information, the accounting department determined the following information: opening cash balance $183, cash on hand $1,373.40, and cash sales per register tape $1,206.12. Prepare a tabular analysis of the required adjustment based upon the cash count sheet. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 2 decimal places, e.g. 52.75.)

Assets	=	Liabilities	+	Stockholders Equity
Cash
	=		+	Revenues	-	Expenses
								Opening cash balanceCash over and shortSales revenue
								Opening cash balanceSales revenueCash over and short

Click if you would like to Show Work for this question:

Open Show Work