Solution-What is the balance in the cash short account

What is the balance in the cash short account

Assignment Help Accounting Basics

Reference no: EM132599148

Jenrob Company completed the following selected transactions during January 20XX.

January

1 Established a petty cash fund of $500

15 The cash sales for the day per the register tape were $3,018.

The actual cash received from cash sales were $3,011.

31 Petty cash on hand was $123. Replenished the petty cash fund for the following disbursements:

Jan 2 Office supplies, $45

10 Postage due on letter, $29 (Miscellaneous Expense)

14 Office supplies, $56.

17 Postage stamps, $42 (Office Supplies).

20 Express charges on merchandise sold, $136 (Delivery Expense).

22 Repair to desk, $63 (Miscellaneous Expense).

30 Office supplies, $12.

31 The cash sales for the day per the register tape were $2,812.

The actual cash received from cash sales were $2,822.

31 Decreased the petty cash fund by $100.

Question 1: What is the balance in the cash short/over account (DR or CR & $ amount)? Is it a revenue or an expense?

Reference no: EM132599148

Questions Cloud

Develop system with acceptable level of risk : Based upon what you have read so far, the goal of systems safety is to develop a system with an acceptable level of risk.

300717 Egress and Risk Assessment : 300717 Egress and Risk Assessment Writing Service, Western Sydney University Assignment Help and Solution - Calculate the system probability that the fire alarm

How is the addictions and mental health crisis portrayed : How is the addictions and mental health crisis portrayed in Sault Ste. Marie? Is the solution a legal solution or something else

Security awareness and security policy implementation : What would you do if you needed to develop a user training program on security awareness and security policy implementation?

What is the balance in the cash short account : What is the balance in the cash short/over account (DR or CR & $ amount)? Is it a revenue or an expense? Established a petty cash fund of $500

Describe one element of your social media presence : Describe one element of your social media presence that you can use to support the brand you want your potential employers to see. How does this element.

Prepare a bank reconciliation for the greenview food store : Checks written in March but still outstanding, Prepare a bank reconciliation for the Greenview Food Store for the month of March 31, 20XX.

Determine the actual materials cost incurred : Determine the actual materials cost incurred for the completion of the 5,200 pairs of glasses and compute the total materials variance

To what amount will the investment grow : Chris Spear invested $15,000 today in a fund that earns 8% compounded annually. To what amount will the investment grow in 3 years

User Account

All Pages

What is the balance in the cash short account

Reference no: EM132599148

Reference no: EM132599148

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT