Answered: An establishment served 50 guests one…

An establishment served 50 guests one day and achieved $800.00 in revenue. What is the check average for that day? 1) $14.00 O2) $16.00 3) $62.50 4) $6.25

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 3TP: If a customer owed your company $100 on the first day of the month, then purchased $200 of goods on...

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

An establishment served 50 guests one day and achieved $800.00 in revenue. What
is the check average for that day?
1) $14.00
O2) $16.00
3) $62.50
4) $6.25

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Accounting for Cash and cash equivalents

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