What the correct entry to record the cash sales

Assignment Help Accounting Basics
Reference no: EM133022962

Question - At the end of the day, the cash register's record shows $1,284, but the count of cash in the cash register is $1,262. What the correct entry to record the cash sales?

-Debit Cash $1,262; debit Cash Over and Short $22; credit Sales $1,284.

-Debit Cash $1,262; Credit Sales $1,262.

-Debit Cash $1,284; credit Sales $1,284.

-Debit Cash $1,284; credit Cash Over and Short $1,262; credit Sales $22.

-Debit Cash Over and Short $22, credit Sales $22.

Reference no: EM133022962

Questions Cloud

What is the maximum capital budget amount : The firm follows a residual dividend policy. What is the maximum capital budget amount the firm can finance without raising external equity
How large are the annual deposits : The first tuition payment is payable on January 1st 2025. The second is payable on January 1st 2026 and so on. How large are the annual deposits
What is the ending balance of the investment in star : On Mar 1, Year 4, Star issued 3,000 shares at a price of $45 per share. Pas did not acquire any of these shares. What is the ending balance of the investment
Compute the break-even volume in units : Brunswick has determined that $50,000 of cost of goods sold and $166,000 of operating expenses are fixed. Compute the break-even volume in units
What the correct entry to record the cash sales : At the end of the day, the cash register's record shows $1,284, but the count of cash in the cash register is $1,262. What the correct entry to record the cash
What amount will be recorded as cash dividends : A corporation has issued 30,000 shares of $50 par common stock and holds 5,000 of these shares as treasury stock. What amount will be recorded as cash dividends
Develop a schedule of cash disbursements for purchases : Spana Company has the following data: Total Monthly Purchasing Budget - January 220,000. Develop a schedule of cash disbursements for purchases
Impact of a corporate communications strategy : plan an internal corporate communications audit for a named organisation and assesses the desired impact of a corporate communications strategy
Find the bond equivalent and effective annual yield : A 15-year maturity bond with par value $1,000 makes semiannual coupon payments at a coupon rate of 8%. Find the bond equivalent and effective annual yield

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd