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Question - Recording cash sales; cash over
The actual cash received from cash sales was $14,356, and the amount indicated by the cash register total was $14,290.
a. What is the amount deposited in the bank for the day's sales?
b. What is amount recorded for the day's sales?
c. How should the difference be recorded?
d. If a cashier is consistently over or short, what action should be taken?
Ignoring income tax considerations, prepare the appropriate journal entry, dated January 1, Year 3, to report this accounting change
Indigo Limited uses a perpetual inventory system. Calculate the cost of goods sold and ending inventory using the FIFO cost method
reginald was the tenant in a rental house. the landlord sold the house and paid reginald 4000 to cancel the lease and
1. all urban company produces a product requiring 4 pounds of material costing 3 per pound. during december all urban
exquisite jewelers is developing its annual financial statement for 2012. the following amounts were correct at
Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on account. a. Determine the due date of the note.
day street delis owner is disturbed by the poor profit performance of his ice cream counter.nbsp he has prepared the
Are these rules comparable? What are the major differences between the two accounting standards? What was your rationale for choosing a rule?
What are common size ratios? What is the key number (or numbers) used for comparison for balance sheet ratios and statement of operations ratios
Using the preceding information, prepare a complete Form 1120S and Schedule K-1s for John Parsons and George Smith, 5607 20th Street, Cut and Shoot
In 2010, Tina Turnips gave property with an adjusted basis of $63,000 to Sally when the fair market value was $163,000. Gift taxes paid on the property were $30,000, and the taxable gift was $150,000. What is the adjusted basis of the property to ..
Discuss the significance to financial analysts of three of the accounting conventions / concepts when they are using ratio analysis to assess the performance of companies - Discuss the nature of the accounting information that is provided in a ..
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