Ohio University has a $150 change fund for each shift. The following is a summary of today’s register activity: The case drawer contains $725.95 cash, paid-out slips totaling $10.50 and a customer charge of $7.75. The register readings show sales of $590 and sales tax of $31. Determine the cash overage or shortage for the day.

Ohio University has a $150 change fund for each shift. The following is a summary of today’s register activity: The case drawer contains $725.95 cash, paid-out slips totaling $10.50 and a customer charge of $7.75. The register readings show sales of $590 and sales tax of $31. Determine the cash overage or shortage for the day.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter7: Accounting For Cash

Section: Chapter Questions

Problem 4CE

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