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Financial Accounting
15th Edition
ISBN: 9781337272124
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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
Transcribed Image Text:Question: Accounting
Diamond Stationery maintains a manual cash register. On Monday, their
register tape shows: cash sales $3,450, credit card sales $2,800, gift
certificates redeemed $500, and cash refunds $150. Calculate the total cash
that should be in the register.
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- Enter the following transactions in a cash payments journal like the one illustrated in the chapter: Aug. 2 Issued Check No. 193 in payment of August rent (Rent Expense), 2,200. 6 Issued Check No. 194 to Mason Hardware in payment of merchandise purchased on account, 1,700, less 2% discount. The check was written for 1,666. 10 Issued Check No. 195 to Augies Wholesale for cash purchase of merchandise, 2,730.arrow_forwardTotal cash? That should be in the register.arrow_forward?? Give me solutionarrow_forward
- While examining cash receipts information, the accounting department determined the following information: opening cash balance $177, cash on hand $1,328.37, and cash sales per register tape $1,166.57. Prepare the required journal entry based upon the cash count sheet. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Cash 1151.37 Cash Over and Short 15.2 Accounts Receivable 1166.57arrow_forwardWhile examining cash receipts information, the accounting department determined the following information: opening cash balance $178, cash on hand $1,016.25, and cash sales per register tape $853.27. Prepare the required journal entry based upon the cash count sheet. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, eg. 52.75.) Account Titles and Explanation Debit Creditarrow_forwardAt the end of the day, the cash register tape lists $1,147.42 as total income from services. Cash on hand consists of $21.13 in coins, $547.52 in currency, $70.00 in traveler's checks, and $603.62 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.arrow_forward
- 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.arrow_forwardRecord the following transactions into the general journal. Be sure to include explanations. When finished upload your journal to this problem. Establish a petty cash fund of $150 on September 1 with check #1001. On September 10, the petty cash fund was replenished with check #1015 when there was $16 remaining and there were petty cash receipts for: office supplies, $30; transportation-in on inventory purchased, (company uses perpetual method) $52; and postage, $42. On September 15, the petty cash fund was increased to $175 in total with check #1020.arrow_forwardCash Over and Short At the end of each day, Spangle counts the cash in its cash registers. Spangle then compares the physical amount of cash to the amount of cash that the register tape indicates should be in the cash drawer. On a recent day, Spangle Company obtained the following data from its cash registers: Cash Sales per Register Tape Cash in Register After Removing Opening Change Register 1 $14,759.62 $14,757.98 Register 2 15,101.59 15,104.06 Register 3 14,802.18 14,798.87 Spangle deposits its cash receipts in its bank account daily. Required: Prepare a journal entry to record these cash sales. For those boxes in which no entry is required, leave the box blank. Round your answers to two decimal places, if necessary.arrow_forward
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