Bundle: College Accounting: A Career Approach (with QuickBooks Online), Loose-leaf Version, 13th + LMS Integrated CengageNOWV2, 1 term (6 months) Printed Access
13th Edition
ISBN: 9781337587358
Author: Cathy J. Scott
Publisher: Cengage Learning
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Chapter 6, Problem 7E
To determine
Journalize the difference between actual cash balance and the reported amount on cash register.
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At the end of the day, the cash register tape lists $881.40 as total income from services. Cash on hand consists of $18.25 in coins, $433.60 in currency, $100.00 in traveler's checks, and $427.00 in customers' checks. The amount of the Change Fund is $100.
Required:
Record the entry to record the day's cash revenue. If an amount box does not require an entry, leave it blank.
At the end of the day, the cash register tape lists $885.69 as total income from services. Cash on hand consists of $15.68 in coins, $459.77 in currency, $90.00 in traveler's checks, and $409.74 in customers' checks. The amount of the Change Fund is $100.
Required:
Record the entry to record the day's cash revenue. If an amount box does not require an entry, leave it blank.
GENERAL JOURNAL
PAGE
DATE
DESCRIPTION
DOC. NO.
POST. REF.
DEBIT
CREDIT
Cash
Cash Short and Over
Income from Services
To record revenue earned during the day involving a cash shortage of $10.50.
The following selected transactions relate to cash collections for a business that maintains a $100 change fund in the cash register at all times. Present entries to record the transactions for each of the two days of cash receipts from sales.
(a)
Actual total cash counted in the cash register, $3,010.26; cash receipts for the day per cash register tally, $2,915.21.
(b)
Actual total cash counted in the cash register, $2,916.95; cash receipts for the day per cash register tally, $2,813.32.
(for each Journal Entry, omit the 4th journalizing step of providing an explanation):
JOURNAL
Date Post. DR CR
(a)
(b)
Chapter 6 Solutions
Bundle: College Accounting: A Career Approach (with QuickBooks Online), Loose-leaf Version, 13th + LMS Integrated CengageNOWV2, 1 term (6 months) Printed Access
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Ch. 6 - Prob. 3DQCh. 6 - Prob. 4DQCh. 6 - Prob. 5DQCh. 6 - Prob. 6DQCh. 6 - a. Why would a business use a Petty Cash Fund? b....Ch. 6 - Prob. 8DQCh. 6 - Prob. 1ECh. 6 - Prob. 2ECh. 6 - Prob. 3ECh. 6 - Prob. 4ECh. 6 - Prob. 5ECh. 6 - Prob. 6ECh. 6 - Prob. 7ECh. 6 - a. Describe the entries that have been posted to...Ch. 6 - Prob. 1PACh. 6 - Prob. 2PACh. 6 - Prob. 3PACh. 6 - Prob. 4PACh. 6 - Prob. 5PACh. 6 - Prob. 1PBCh. 6 - Prob. 2PBCh. 6 - Prob. 3PBCh. 6 - Prob. 4PBCh. 6 - Prob. 5PBCh. 6 - Prob. 1ACh. 6 - Prob. 2ACh. 6 - You work as a cashier for a service business. Some...
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