Cash 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 Register Receipt Amount Actual Cash Counted 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?
Cash 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 Register Receipt Amount Actual Cash Counted 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?
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 7E
Related questions
Question
Cash 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 Register Receipt Amount |
Actual Cash Counted |
|||
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?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage