Cash Short and Over Entries Listed below are the weekly cash register tape amounts for service fees and the related cash counts during the month of July. A change fund of $100 is maintained. Date Change Fund Cash Register Receipt Amount Actual Cash Counted July 2 $100 $280.70 $377.00 9 100 312.30 412.30 16 100 303.60 407.30 23 100 319.40 417.00 30 100 290.20 394.30 Determine the ending balance of the cash short and over account. $ Does it represent an expense or revenue?
Cash Short and Over Entries Listed below are the weekly cash register tape amounts for service fees and the related cash counts during the month of July. A change fund of $100 is maintained. Date Change Fund Cash Register Receipt Amount Actual Cash Counted July 2 $100 $280.70 $377.00 9 100 312.30 412.30 16 100 303.60 407.30 23 100 319.40 417.00 30 100 290.20 394.30 Determine the ending balance of the cash short and over account. $ Does it represent an expense or revenue?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Cash Short and Over Entries
Listed below are the weekly cash register tape amounts for service fees and the related cash counts during the month of July. A change fund of $100 is maintained.
Date |
Change Fund |
Cash Register Receipt Amount |
Actual Cash Counted |
|||
| July 2 | $100 | $280.70 | $377.00 | |||
| 9 | 100 | 312.30 | 412.30 | |||
| 16 | 100 | 303.60 | 407.30 | |||
| 23 | 100 | 319.40 | 417.00 | |||
| 30 | 100 | 290.20 | 394.30 |
Determine the ending balance of the cash short and over account.
$
Does it represent an expense or revenue?
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