On March 1, the actual cash received from cash sales was $25,538, and the amount indicated by the cash register total was $25,670. Required: Journalize the entry to record the cash receipts and cash sales.

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: Jeremiah Restoration Company completed the following selected transactions during January: Jan. 1.…

A: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…

Q: The actual cash received from cash sales was $36,006, and the amount indicated by the cash register…

A: Cash short and over = Cash sales - cash received = $36,010 - $36,006 = $4

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

A: Journal entry:   Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Jeremiah Restoration Company completed the following selected transactions during January: Jan. 1.…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: At the end of the day, the cash register tape lists $885.69 as total income from services. Cash on…

A: Journal entry: The record of business transactions in a chronological order in the journal is…

Q: Transactions for petty cash, cash short and over Instructions Chart of Accounts Journal Instructions…

A: Petty cash fund:   Petty cash fund is a fund established to pay insignificant amounts like postage,…

Q: Instructions The actual cash received from cash sales was $45,449 and the amount indicated by the…

A: Cash short or over= Actual cash received  from cash sales - Amount  indicated  by cash register

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

A: The term cash over & short is basically used in case of petty cash transactions. It shows the…

Q: ournal entry that would be necessary for each of the following situations. (a) Sales per cash…

A:

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: 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 December cash records of Kirk’s Hardware follow: Cash Receipts   Cash Payments Date Cash…

A: Bank Reconciliation is a process which is used to adjust the balances of cash book and pass book in…

Q: The actual cash receivec from cash sales was 914 amount indicated by the cash register total was $…

A: A journal entry is a record of a business' financial transactions that is preserved in its…

Q: Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of…

A: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…

Q: Entry for Cash Sales; Cash Over The actual cash received from cash sales was $14,806 and the amount…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

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: Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of…

A: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…

Q: Brief Exercise 7-06 The cash register tape for Larkspur Industries reported sales of…

A: Prepare the journal entries:

Q: Entry for Cash Sales; Cash Short The actual cash received from cash sales was $31,072 and the amount…

A: Journal entry of cash receipt and cash sale Date Particulars Post. Ref Amount ( Dr.) Amount( Cr)…

Q: Enter the following transactions in a cash receipts journal: July 6   Daren Chesbrough made…

A:

Q: Selected transactions completed by Kornett Company during its first fiscal year ended December 31,…

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

Q: The Cash Receipts Journal of the Company shows the following accounts and account balances:•Sales P…

A: Solution Given Sales P 125,000 Accounts receivable 65,000 Sundry accounts (credit) 1,802,650 Sales…

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 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 general ledger Cash at Bank account had a balance of $21,200 on 31 May. The cash receipts…

A: 1.

Q: a. On March 1, journalize the following transaction: Check is issued to establish a petty cash fund…

A: JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY…

Q: At the end of each day, Spangle counts the cash in its cash registers. Spangle then compares the…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

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

A: Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting…

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

A:

Q: Entry for cash sales; cash over The actual cash received from cash sales was $315,280, and the…

A: Journal entry Journal entry is a set of economic events which can be measured in financial terms.…

Q: Entry for Cash Sales; Cash Over The actual cash received from cash sales was $71,315, and the…

A: Journal entry: It is a set of economic events that can be measured in monetary terms. These are…

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: Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of…

A: The journal entry for issued to establish a petty cash fund as as follows:

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: Entry for cash sales; cash short The actual cash received from cash sales was $83,452, and the…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: The actual cash received during the week ended June 7 for cash sales was $18,163, and the amount…

A: Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting…

Q: Entry for Cash Sales; Cash Short The actual cash received from cash sales was $35,699, and the…

A: The amount received from cash sales is recorded by debiting the cash account and crediting the sales…

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: Jeremiah Restoration Company completed the following selected transactions during January.…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: Credit Sales Cash Collections Jan. 7 Austin Co. $10,200 Jan. 17 Austin Co. $7,400 15 Diaz Co. 7,800…

A: The subsidiary ledgers provides the details of all the accounts separately and general ledger give…

Q: The actual cash received from cash sales was $49,822 and the amount indicated by the cash register…

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

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