Answered: A cash register tape shows cash sales…

Business

Accounting

A cash register tape shows cash sales of $8200 and sales taxes of $410. The journal entry to record this information is

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

See similar textbooks

Related questions

Q: At the end of the day, the cash register tape lists $1,021.18 as total income from services. Cash on…

Q: While examining cash receipts information, the accounting department determined the following…

A: Journal is the primary book where transactions are originally recorded. Further, a journal entry is…

Q: The actual cash received from cash sales was $36,006, and the amount indicated by the cash register…

A: Cash short and over = Cash sales - cash received = $36,010 - $36,006 = $4

Q: At the end of the day, the cash register tape lists $885.69 as total income from services. Cash on…

A: Journal entry: The record of business transactions in a chronological order in the journal is…

Q: Hunt Company enters all cash payments in the cash payments journal. On February 21, the company…

A: Note: 2/10, n/30: Here, 2 represent the discount rate if payment is made within ten days. And if…

Q: When the cash count sheets for the day equal $14280 and the cash register reports $14280 the journal…

A: Journal entry: It refers to the recording of company's financial transactions in it's primary book…

Q: The actual cash received from cash sales was $83,452, and the amount indicated by the cash register…

A: Given, Actual cash received from cash sales = $83,452 Amount indicated by the cash register =…

Q: Record the journal entry that would be necessary for each of the following situations. (a) Sales per…

A: Given in the question: Sales based on cash register = $27,662.00 The journal entry is required even…

Q: Entry for cash sales; cash overThe actual cash received from cash sales was $315,280, and the amount…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: ournal entry that would be necessary for each of the following situations. (a) Sales per cash…

Q: Entry for Cash Sales; Cash Over The actual cash received from cash sales was $14,953 and the amount…

A: Journals: Recording of a business transactions in a chronological order. First step in the…

Q: The actual cash received from cash sales was $18,371, and the amount indicated by the cashcregister…

A: Prepare journal entry to record the cash receipts and cash sales:

Q: Instructions Based on the following information, prepare the weekly entries for cash receipts from…

A: Cash short and over refers to the difference between the amount of cash that should be on hand…

Q: Record the journal entry for Sales and for Cash Over and Short for each of the following separate…

A: The objective of this question is to record the journal entries for Sales and for Cash Over and…

Q: The actual cash receivec from cash sales was 914 amount indicated by the cash register total was $…

A: A journal entry is a record of a business' financial transactions that is preserved in its…

Q: A cash register tape shows cash sales of $7500 and sales taxes of $375. The journal entry to record…

A: Cash register tapes refer to the book/register that inherent all the information related to the…

Q: At the end of the day, the cash register's record shows $1,286, but the count of cash in the cash…

A: The petty cash fund is generally used for recording different small expenses and is replenished…

Q: The cash register tape for Shamrock Industries reported sales of $ 9,207.80. Record the iournal…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: The cash register tape for Larkspur Industries reported sales of $7,146.30. Record the journal entry…

A: a. Cash = Sales revenue - Cash short = 7146.30 - 52.78 = 7093.52 b. Cash = Sales revenue + Cash…

Q: The actual cash received during the week ended June 7 for cash sales was $19,081, and the amount…

A: Cash over/(short)=$19,081-$19,023=$58

Q: A $250 petty cash fund has cash of $15 and receipts of $230. The journal entry to replenish the…

A: Particulars Debit (in $) Credit (in $) Expenses Cash short and over [250 - (230+15)]…

Q: The actual cash received from cash sales was $30,378 and the amount indicated by the cash register…

A: Definition: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts…

Q: The actual cash received from cash sales was $14,953 and the amount indicated by the cash register…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: The actual cash received from cash sales was $39,114, and the amount indicated by the cash register…

A: Journal entry is the process of recording financial transactions into the accounting system. Here…

Q: how do I journalize the entry to record the cash receipts and cash sales on March 1st? Refer to…

A: Dear student, since you asked only for cash receipt and cash sales transaction, The journal entry…

Q: At the end of the day, the cash register tape lists $1,147.42 as total income from services. Cash on…

A: Cash short and over = Income from services + Change Fund - coins - currency - traveler's checks -…

Q: At the end of the day, the cash register tape lists $881.40 as total income from services. Cash on…

A: Total cash = coins + currency + traveler's checks + customers' checks = 18.25+433.60+100.00+427.00 =…

Q: The actual cash received from cash sales was $13,712 and the amount indicated by the cash register…

A: The cash register records all the cash transactions of a company. It includes all the cash payments…

Q: The cash register tape for Marin Industries reported sales of $10,307.20. Record the journal entry…

A: A journal entry is an accounting record that is used to document a business transaction. It includes…

Q: The actual cash received from cash sales was $49,822 and the amount indicated by the cash register…

A: Journal: Journal is the method of recording monetary business transactions in chronological order.…

Q: The actual cash received from cash sales was $32,443, and the amount indicated by the cash register…

A: The objective of the question is to record the cash receipts and cash sales in the journal entry.…

Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

A cash register tape shows cash sales of $8200 and sales taxes of $410. The journal entry to record this information is

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Accounting for Cash and cash equivalents

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.

Similar questions

When the cash count sheets for the day equal $14280 and the cash register reports $14280 the journal entry to record the sales will include a
The actual cash received from cash sales was $49,822 and the amount indicated by the cash register total was $49,615. Journalize the entry to record the cash receipts and cash sales. Refer to the Chart of Accounts for exact wording of account titles
The actual cash received from cash sales was $83,452, and the amount indicated by the cash register total was $83,480. Journalize the entry to record the cash receipts and cash sales. If an amount box does not require an entry, leave it blank.
The actual cash received from cash sales was $13,712 and the amount indicated by the cash register total was $13,688. Journalize the entry to record the cash receipts and cash sales. For a compound transaction, if an amount box does not require an entry, leave it blank.
Record the journal entry for Sales and for Cash Over and Short for each of the following separate situations. The cash register’s record shows $590 of cash sales, but the count of cash in the register is $634. The cash register’s record shows $1,184 of cash sales, but the count of cash in the register is $1,142.
The actual cash received from cash sales was $32,443, and the amount indicated by the cash register total was $32,473. Journalize the entry to record the cash receipts and cash sales. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank
how do I journalize the entry to record the cash receipts and cash sales on March 1st? Refer to the chart of accounts for the exact wording of the account titles. Every line on a journal page is used for debit or credit entries. DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 On March 1, the actual cash received from cash sales was $66,670, and the amount indicated by the cash register total was $66,341. Required: CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation-Office Equipment 193 Store Equipment 194 Accumulated Depreciation-Store Equipment…
The cash register tape for Marin Industries reported sales of $10,307.20. Record the journal entry that would be necessary for each of the following situations. a) Sales per cash register tape exceeds cash on hand by $76.12. b) Cash on hand exceeds cash reported by cash register tape by $42.47.
The cash register tape for Larkspur Industries reported sales of $10,169.80.Record the journal entry that would be necessary for each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $75.11. (b) Cash on hand exceeds cash reported by cash register tape by $41.90.
At the end of the day, the cash register tape lists $1,021.18 as total income from services. Cash on hand consists of $17.66 in coins, $749.91 in currency, $70.00 in traveler's checks, and $276.27 in customers' checks. The amount of the Change Fund is $100. Required: Record the entry to record the day's cash revenue. If an amount box does not require an entry, leave it blank.
Hunt Company enters all cash payments in the cash payments journal. On February 21, the company issued Check No. 220 to Austin Company for merchandise purchased on January 29 for $6,000, terms 2/10, n/30. How would Hunt Company record this transaction in the cash payments journal?
The actual cash received during the week ended June 7 for cash sales was $19,081, and the amount indicated by the cash register total was $19,023. Journalize the entry to record the cash receipts and cash sales.If an amount box does not require an entry, leave it blank. June 7