Entry for Cash Sales; Cash Over The actual cash received from cash sales was $71,315, and the amount indicated by the cash register total was $71,220. Journalize the entry to record the cash receipts and cash sales. For a compound transaction, if an amount box does not require an entry, leave it blank.   Cash        Sales        Cash Short and Over

Q: At the end of the day, the cash register tape lists $1,021.18 as total income from services. Cash on…

A:

Q: The actual cash received from cash sales was $33,161 and the amount indicated by the cash register…

A: Working: Cash received = $33,161 Cash Register = $33,185 Cash Short = $33,185 - $33,161 = $24 Sales…

Q: While examining cash receipts information, the accounting department determined the following…

A: Journal is the primary book where transactions are originally recorded. Further, a journal entry is…

Q: Required a. Complete the schedule of cash receipts by filling in the missing amounts. b. Determine…

A: Given is: Accounts receivable on July 1 = $330,000 100% accounts receivables are collected in the…

Q: Identify each of the following reconciling items as part of the cash reconciling process as: (A)…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: Indicate the missing posting reference and amount in the control account, and the missing ending…

A: Journal entry is the entry which is recorded in the journal book. Every monetary business…

Q: Hunt Company enters all cash payments in the cash payments journal. On February 21, the company…

A: Note: 2/10, n/30: Here, 2 represent the discount rate if payment is made within ten days. And if…

Q: The actual cash received from cash sales was $83,452, and the amount indicated by the cash register…

A: Given, Actual cash received from cash sales = $83,452 Amount indicated by the cash register =…

Q: The actual cash received from cash sales was $12,100 and the amount indicated by the cash register…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: The actual cash received from cash sales was $83,452, and the amount indicated by the cash register…

A: Journal: Journal is the method of recording monetary business transactions in chronological order.…

Q: Entry for Cash Sales; Cash Over The actual cash received from cash sales was $14,953 and the amount…

A: Journals: Recording of a business transactions in a chronological order. First step in the…

Q: Required information [The following information applies to the questions displayed below.] The…

A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…

Q: The actual cash received during the week ended June 7 for cash sales was $18,523, and the amount…

A: Cash receipts are cash received from customers. Cash sales means when customer pays cash on account…

Q: The actual cash received from cash sales was $18,371, and the amount indicated by the cashcregister…

A: Prepare journal entry to record the cash receipts and cash sales:

Q: Record the journal entry for Sales and for Cash Over and Short for each of the following separate…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: Entry for Cash Sales; Cash Short The actual cash received from cash sales was $30,376 and the…

A: A journal is a book of original entry in which financial transactions of the business are recorded…

Q: From the following information which is "NOT TRUE" about the Cash Payment Journal under perpetual…

A: Cash payment journal record various cash disbursement like loan payment, cash payment, accounts…

Q: A cash book is used to record

A: A cash book contains all cash receipts and payments transactions in detail, including bank deposits…

Q: The following information is available to reconcile Branch Company's book balance of cash with its…

A: Bank reconciliation is a statement prepared to compare the bank balance and cash book balance. The…

Q: Journalizing Cash Receipts Enter the following transactions in a cash receipts journal: Nov. 1 Jean…

A: Journal Entry:- Journal entry is the process of recording business transactions either economic or…

Q: The cash register tape for Larkspur Industries reported sales of $7,146.30. Record the journal entry…

A: a. Cash = Sales revenue - Cash short  = 7146.30 - 52.78 = 7093.52 b. Cash = Sales revenue + Cash…

Q: The actual cash received during the week ended June 7 for cash sales was $19,081, and the amount…

A: Cash over/(short)=$19,081-$19,023=$58

Q: The total on the "Cash Receipts" report generated by QuickBooks® software at January 31 would be…

A: Step 1 Cash receipts journal also refers to the main entry book, the purpose of which is the…

Q: The actual cash received from cash sales was $34,936, and th amount indicated by the cash register…

A: Solution: Entry to record cash sales is as under:

Q: Required information [The following information applies to the questions displayed below.] The…

A: SOLUTION- BANK RECONCILIATION STATEMENT  IS A SUMMARY OF BANKING AND BUSINESS ACTIVITY THAT…

Q: The cash register tape for Shamrock Industries reported sales of $ 9,207.80. Record the journal…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: The actual cash received from cash sales was $30,378 and the amount indicated by the cash register…

A: Definition:   Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts…

Q: Journalizing Cash Receipts Enter the following transactions in a cash receipts journal: July 6…

A:

Q: Using the following cash payments journal, identify each of the posting references, indicated by a…

A: Cash payment Journal all the expenses made and paid by cash during a particular period of time. All…

Q: Burlywood Corp.'s ledger balance of cash as on December 31 is $4,425. It provides the following…

A: Bank reconciliation statement is used to determine the differences between the bank statement…

Q: he actual cash received from cash sales was $36,728 and the amount indicated by the cash register…

A: Cash Sales - Cash Sales are the Sales made in consideration of cash. In this transaction cash is…

Q: The following selected transactions relate to cash collections for a firm that maintains a days of…

A: Journal entry is a primary entry that records the financial transactions initially.

Q: The actual cash received from cash sales was $14,953 and the amount indicated by the cash register…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Given the following information, compute the correct cash balance using the adjusted method. Write…

A: A bank reconciliation statement is prepared by the business entity at a certain time period to match…

Q: Required information [The following information applies to the questions displayed below.] The…

A: The question is based on the concept of Bank reconciliation statement.

Q: Every transaction recorded in the cash payments journal includes a a. credit to Cash. b. debit to…

A: In cash payments journal, transaction is to be recorded when there is a debit to cash i.e payment…

Q: Record the journal entry for Sales and for Cash Over and Short for each of the following separate…

A: Cash Over or Short Journal Entry A cash over or short journal entry mostly occurs in a retail type…

Q: The actual cash received from cash sales was $71,315, and the amount indicated by the cash register…

A: A journal entry is prepared by the company to record the non-economic & economic transactions of…

Q: Revenue and Cash Receipts Journals Transactions related to revenue and cash receipts completed by…

A: Revenue Journal Date Invoice No. Account Debited Post. Ref. Accounts Rec. Dr., Fees earned CR.…

Q: (Determining Cash Balance) Presented below are a number of independent situations.InstructionsFor…

A: Cash and cash equivalents:   Cash and cash equivalents refers to the line items in the balance…

Q: Entry for cash sales; cash short Instructions Chart of Accounts Journal Instructions The actual cash…

A: The question is related to Journal Entry. The details of transaction is given.

Q: The actual cash received from cash sales was $18,371, and the amount indicated by the cash register…

A: The difference between the cash sale and cash recorded in the cash register is called as cash short…

Q: On March 1, the actual cash received from cash sales was $25,538, and the amount indicated by the…

A: Cash over and (short) = Cash received - Actual sales = $25,538 - $25,670 = $132

Q: The actual cash received from cash sales was $13,712 and the amount indicated by the cash register…

A: The cash register records all the cash transactions of a company. It includes all the cash payments…

Q: The actual cash received during the week ended June 7 for cash sales was $19,001, and the amount…

A: The difference between Actual cash present and cash per book goes to the Cash Short and Over…

Q: The following selected transactions relate to cash collections for a firm that maintains a $100…

A: Journal entry is a primary entry that records the financial transactions initially.. Cash is debited…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is