At the end of the day the clerk for Bill’s Variety Shop noticed an error in the amount of cash he should have. Total cash sales from the sales tape were $1,190, whereas the total cash in the register was $1,149. Bill keeps a $21 change fund in his shop. Prepare an appropriate general journal entry to record the cash sale as well as reveal the cash shortage.
Answer to relevant QuestionsRecord the following transactions in the basic accounting equation. Treat each one separately.Assets = Liabilities + Owner’s Equitya. Micheal invests $112,000 in company.b. Bought equipment for cash, $1500.c. Bought ...Mike Ackerman decided to open Mike’s Nail Spa. Mike completed the following transactions:a. Invested $17,000 cash from his personal bank account into the business.b. Bought store equipment for cash, $3,900.c. Bought ...From the following information, construct a bank reconciliation for Zing Co. as of March 31, 201X. Then prepare journal entries ifneeded.Slacks.com received a bank statement from Italian Bank indicating a bank balance of $7,600. Based on Slacks.com’s check stubs, the ending checkbook balance was $8,767. Your task is to prepare a bank reconciliation for ...From the following, record the transactions in Burbank’s auxiliary petty cash record and general journal as needed:201XOct. 1 A check was drawn (no. 444) payable to Eileen Cooper, petty cashier, to establish a $200 petty ...
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