FINANCIAL AND MANAGERIAL ACCOUNTING
9th Edition
ISBN: 2818440048890
Author: Wild
Publisher: MCG CUSTOM
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Question
Chapter 6, Problem 8QS
To determine
Cash Over and Short:
Sometimes cash count in the box does not match the cash recorded as per the register. When the cash count is more than what was recorded, it is called cash overage. When the cash count falls short of what was recorded, it is called a cash shortage.
To record:
The
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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.
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Account
Debit
Credit
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Chapter 6 Solutions
FINANCIAL AND MANAGERIAL ACCOUNTING
Ch. 6 - Prob. 1QSCh. 6 - Prob. 2QSCh. 6 - Prob. 3QSCh. 6 - Prob. 4QSCh. 6 - Prob. 5QSCh. 6 - Prob. 6QSCh. 6 - Prob. 7QSCh. 6 - Prob. 8QSCh. 6 - Prob. 9QSCh. 6 - Prob. 10QS
Ch. 6 - Prob. 11QSCh. 6 - Prob. 12QSCh. 6 - Prob. 13QSCh. 6 - Prob. 14QSCh. 6 - Prob. 15QSCh. 6 - Prob. 16QSCh. 6 - Prob. 1ECh. 6 - Prob. 2ECh. 6 - Prob. 3ECh. 6 - Prob. 4ECh. 6 - Prob. 5ECh. 6 - Prob. 6ECh. 6 - Prob. 7ECh. 6 - Prob. 8ECh. 6 - Prob. 9ECh. 6 - Prob. 10ECh. 6 - Prob. 11ECh. 6 - Prob. 12ECh. 6 - Prob. 13ECh. 6 - Prob. 14ECh. 6 - Prob. 15ECh. 6 - Prob. 16ECh. 6 - Prob. 17ECh. 6 - Prob. 1PSACh. 6 - Prob. 2PSACh. 6 - Prob. 3PSACh. 6 - Prob. 4PSACh. 6 - Prob. 5PSACh. 6 - Prob. 1PSBCh. 6 - Prob. 2PSBCh. 6 - Prob. 3PSBCh. 6 - Prob. 4PSBCh. 6 - Prob. 5PSBCh. 6 - Prob. 6SPCh. 6 - Prob. 1GLPCh. 6 - Prob. 1.1AACh. 6 - Prob. 1.2AACh. 6 - Prob. 1.3AACh. 6 - Prob. 1.4AACh. 6 - Prob. 1.5AACh. 6 - Prob. 2.1AACh. 6 - Prob. 2.2AACh. 6 - Prob. 3.1AACh. 6 - Prob. 3.2AACh. 6 - Prob. 3.3AACh. 6 - Prob. 3.4AACh. 6 - Prob. 1DQCh. 6 - Prob. 2DQCh. 6 - Prob. 3DQCh. 6 - Prob. 4DQCh. 6 - Prob. 5DQCh. 6 - Prob. 6DQCh. 6 - Prob. 7DQCh. 6 - Prob. 8DQCh. 6 - Prob. 9DQCh. 6 - Prob. 10DQCh. 6 - Prob. 11DQCh. 6 - Prob. 12DQCh. 6 - Prob. 13DQCh. 6 - Prob. 14DQCh. 6 - Harriet Knox, Ralph Patton, and Marcia Diamond...Ch. 6 - Prob. 2BTNCh. 6 - Prob. 3BTNCh. 6 - Prob. 4BTN
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- 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.arrow_forwardThe cash register tape for Oriole Industries reported sales of $27,662.00. 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 $45.00. (b) Cash on hand exceeds cash reported by cash register tape by $20.50. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, eg. 52.75.) No. Account Titles and Explanation Credit (b) Cash Cash Over and Short Sales Revenue Cash Sales Revenue Cash Over and Short Debitarrow_forwardAt the end of the day, the cash register's record shows $1,272, but the count of cash in the cash register is $1,256. The correct entry to record the cash sales is Multiple Choice Debit Cash $1,256; debit Cash Over and Short $16; credit Sales $1,272. Debit Cash $1,256; Credit Sales $1,256. Debit Cash $1,272; credit Cash Over and Short $1,256; credit Sales $16. Debit Cash Over and Short $16, credit Sales $16. Debit Cash $1,272; credit Sales $1,272.arrow_forward
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- The cash register tape for Shamrock Industries reported sales of $ 9,207.80. 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 $ 68.80. (b) Cash on hand exceeds cash reported by cash register tape by $ 37.94. (Round answ to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) swersarrow_forwardThe cash register tape for Shamrock Industries reported sales of $ 9,207.80.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 $ 68.80. (b) Cash on hand exceeds cash reported by cash register tape by $ 37.94. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Transactions Account Titles and Explanation Debit Credit (a) enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places (b) enter an account title enter a debit amount rounded to 2 decimal…arrow_forwardThe cash register tape for Shamrock Industries reported sales of $9,207.80. 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 $68.80. (b) Cash on hand exceeds cash reported by cash register tape by $37.94. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Transactions Account Titles and Explanation Debit Credit (a) cash Cash Over and Short (b)arrow_forward
- The cash register tape for Sheridan Industries reported sales of $27,292.00. 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 $53.50. (b) Cash on hand exceeds cash reported by cash register tape by $22.00. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) No. Account Titles and Explanation Debit Credit (a) (b)arrow_forwardThe cash register tape for Tamarisk Industries reported sales of $8,103.30.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 $59.85. (b) Cash on hand exceeds cash reported by cash register tape by $33.39. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Transactions Account Titles and Explanation Debit Credit (a) enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places enter an account title enter a debit amount rounded to 2 decimal places enter a credit amount rounded to 2 decimal places (b) enter an account title enter a debit amount rounded to 2 decimal…arrow_forwardThe cash register tape for Larkspur Industries reported sales of $7,146.30. 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 $52.78. (b) Cash on hand exceeds cash reported by cash register tape by $29.45. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Transactions Account Titles and Explanation Debit Credit (a) Cash 7093.52 Cash Over and Short 52.78 Sales Revenue 7146.30 (b) Cash 7093.52 Sales Revenue 7146.30 Cash Over and Short 29.45arrow_forward
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