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While examining cash receipts information, the accounting department determined the following information: opening cash balance $201, cash on hand $1,508.49, and cash sales per
While examining cash receipts information, the accounting department determined the following information: opening cash balance $201, cash on hand $1,508.49, and cash sales per register tape $1,324.75. Prepare a tabular analysis of the required adjustment based upon the sales register tape and cash on hand. Include margin explanations for the changes in revenues and expenses. (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.) Assets Cash = Liabilities + Revenues Stockholders' Equity Expenses
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