Question: At the end of the day the cash register tape
At the end of the day, the cash register tape lists $ 881.40 as total income from services. Cash on hand consists of $ 18.25 in coins, $ 433.60 in currency, $ 100.00 in traveler’s checks, and $ 427.00 in customers’ checks. The amount of the Change Fund is $ 100. In general journal form, record the entry to record the day’s cash revenue.
Answer to relevant Questionsa. Describe the entries that have been posted to the following accounts after the Change Fund was established.b. How will the balance of Cash Short and Over be reported on the incomestatement?The Quilt Shop deposits all receipts in the bank each evening and makes all payments by check. On July 31, its ledger balance of cash is $ 2,830.15. The bank statement balance of cash as of July 31 is $ 3,215.20. Use the ...As the new bookkeeper for a small business, you find that several people access the Petty Cash Fund, usually without anyone leaving a written explanation of what the money was used for. The amount of cash does not match the ...For tax purposes, assume that the maximum taxable earnings are $ 106,800 for Social Security and $ 7,000 for the unemployment tax and that all earnings are taxable for Medicare. For the payroll register for the month of ...Erin Chang, an employee of Solutions Company, worked 48 hours during the week of October 11 through 17. Her rate of pay is $ 17.50 per hour, and she receives time- and- a- half for all work in excess of 40 hours per week. ...
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