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Oduvanchick [21]
3 years ago
9

While examining cash receipts information, the accounting department determined the following information: opening cash balance

$180, cash on hand $1,350.89, and cash sales per register tape $1,186.34. Prepare the required journal entry based upon the cash count sheet.
Business
1 answer:
Vlad1618 [11]3 years ago
6 0

Answer:

Cash $1,170.89

Cash Over/Short $15.45

     To Sales Revenue  $1,186.34

(Beingthe cash is recorded)

Explanation:

Before passing the journal entry first we have to determine the ending cash balance which is shown below:

Ending Cash Balance is

= Opening Cash Balance + Sales

= $180 + $1,186.34

= $1,366.34

Short cash is

= Ending cash balance - cash on hand

= $1,366.34 - $1,350.89

= $15.45

And, the actual cash is

= Cash on hand - opening cash balance

= $1,350.89 - $180

= $1,170.89

Now the journal entry is

Cash $1,170.89

Cash Over/Short $15.45

     To Sales Revenue  $1,186.34

(Being the cash is recorded)

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Hinge Manufacturing's cost of goods sold is $420,000 variable and $240,000 fixed. Thecompany's selling and administrative expens
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Answer:

Contribution margin= $960,000

Explanation:

Giving the following information:

Hinge Manufacturing's:

Cost of goods sold variable= $420,000

Cost of goods sold fixed= $240,000

The company's selling and administrative expenses are $300,000

variable and $360,000fixed.

If the company's sales are $1,680,000

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Variable cost of goods sold= 420000

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Explanation:

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Total revenue from charging, $10 is $70,

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Since, total cost is constant, Max and Maddy will choose to charge $15 since it is giving them $5 more.

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2 years ago
from accessibility improvement to land development: a comparative study on the impacts of madrid-seville high-speed rail.
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The 472 kilometres (293 miles) long Madrid-Seville high-speed line, also known as NAFA or Nuevo Acceso Ferroviario a Andaluca, is a Spanish railway line used for high-speed travel between Madrid and Seville. Since April 21, 1992, the first high-speed rail link in Spain has been operational, reaching speeds of up to 300 km/h (186 mph). Over half less time was required to go between the two end points.

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Knowledge Check 01 Addison Corporation is considering the purchase of equipment that would increase sales revenues by $250,000 p
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Answer:

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Explanation:

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