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The actual cash received from cash sales was $11,279, and the amount indicated by the cash register total was $11,256.
a. what is the amount deposited in the bank for the day's sales?
b. what is the amount recorded for the days sales?
c. how should the difference be recorded?
d. If a cashier is consistently over or short what action should be taken.
Your father runs a small auto body shop. He has decided to computerize his records and has asked you to explain the basics of accounting to him so that he can enter the data into his accounting software.
Calculate the initial return earned by investors who are allocated shares in the IPO. What is the total cost ( underwriting fee and underpricing) of this issue to WCMC?
Determine the amount of cash received and prepare the journal entries for (a) the Jan. 1 issuance and (b) the Dec. 31 recognition of interest.
The Cosmo Company was started by issuing 800 shares of $10 par value stock at an average market price of $20 per share. Prepare journal entries to record the treasury stock transactions. Prepare the equity section of the balance sheet for Cosmo Compa..
The approach the controller recommended is to compare SUPERVALU's revenue recognition accounting policies to three similar companies, one reporting under US GAAP ( Safeway ) and two reporting under IFRS ( Ahold and Loblaw Companies ).
Prepare schedule to reconcile accounting and taxable income and to compute taxes payable. Prepare a schedule of temporary differences and deferred income taxes. Prepare Journal entry for each year. Show how income tax expenses, deferred income tax as..
Record the following transactions of a company in a general journal form: Reacquired 8,000 of its own $10 par value common stock at $40 cash per share. The stock was originally issued at $15 per share.
Howarth Manufacturing Company purchased a lathe on June 30, 2007, at a cost of $80,000. Prepare the journal entry to record the sale.
Progressive Home Health Care Inc. is a for-profit provider of home health care services in the Pacific Northwest-Probability of distress increases with the amount of debt in the following steps:
Lisa's School Supplies suffered a fire loss. The company needs to estimate the cost of the goods destroyed. Beginning inventory was $500,000, purchases totaled $700,000, and sales came equaled $1,000,000.
What role(s) does corporate social responsibility play in the development of a safety-first culture? What documents and strategies can management adopt to ensure that a corporate safety-first culture exists?
Make a brief response in which you outline some examples of accounting report criteria (regulatory environment, issues with foreign currency, differences in GAAP, etc.) employed by a U.S.
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