Required: Calculate the correct ending balance of cash at the end of February. (Amounts to be deducted should be indicated with a minus sign.)
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- When the cash short and over account has a debit balance at the end of the month, it is considered (a) an expense. (b) an asset. (c) revenue. (d) a liability.cash shortage as of December 31 and adjusted book balance as of december 31? please show complete solutionDetermine the following (1-3):: 1. What is the excess (deficiency) of cash available for disbursements for December? 2. What is the net income for December? 3. What is the cash balance at the end of December?
- The following information were gathered from 3 Stripes Company for the month ended December 31, 2022 This problem has four questions- adjusted cash balance as of November 30- adjusted cash receipts for the month of December- adjusted cash disbursements for the month of December- adjusted cash balance as of December 31What is the change in the cash balance for the period January-March Please Fast AnswerWhich of the following accounts will get affected when cash is received from sale made on account in the last month? a. Cash and Service Revenue b. Cash and Accounts Receivable c. Cash and Salary Expense d. Cash and Notes Payable
- Sparks Fly Company provided the following data concerning the cash records for the months of July and August. What is the correct answer to questions #1, 2, 3 and 4?How do I prepare a schedule of cash collected from customers for the quarter ended March 31, 20X1?Required: The business needs to have a sense of its future cash flows and therefore requires the preparation of the following: a. A schedule of expected cash disbursements for accounts payable (purchases on account) for each of the months July to September.
- The month-end journal entry to adjust its cash balance to agree to the adjusted book balance should include a: a) debit to interest revenue for $125 b) credit to service revenue for $4000 c) credit to bank service charge expense for $35 d) credit to note receivable for $2500Cash Short and Over Entries Listed below are the weekly cash register tape amounts for service fees and the related cash counts during the month of July. A change fund of $100 is maintained. Date Change Fund Cash RegisterReceipt Amount Actual CashCounted July 2 $100 $280.70 $377.00 9 100 312.30 412.30 16 100 303.60 407.30 23 100 319.40 417.00 30 100 290.20 394.30 Determine the ending balance of the cash short and over account.$ Does it represent an expense or revenue?The end-of-the month balance in Igado’s cash disbursement journal “Sundry Account” column is P19,870. How will the column be posted and what is the posting reference will be entered?