1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Whitepunk [10]
3 years ago
11

The Cash Over and Short account:Select one:a. Is used to record a credit balance in the cash account.b. Is an income statement a

ccount used for recording the income effects of cash overages and cash shortages from errors in making change and/or from errors in processing petty cash transactions.c. Is not necessary in a computerized accounting system.d. Can never have a debit balance.e. Can never have a credit balance.
Business
1 answer:
Katyanochek1 [597]3 years ago
8 0

Answer:

b. Is an income statement account used for recording the income effects of cash overages and cash shortages from errors in making change and/or from errors in processing petty cash transactions.

Explanation:

Cash over and short account, is not the actual cash account or something like that. In fact it is an expense account made which reports all the over-dues that is overages or short-dues that results from an imprest account, like petty cash.

This account records the difference created in between the expected value of cash and actual value of cash in imprest account.

Therefore the correct option in all the above is:

b. Is an income statement account used for recording the income effects of cash overages and cash shortages from errors in making change and/or from errors in processing petty cash transactions.

You might be interested in
"if Washburn achieves the sales target of 2,000 units at the $349 retail price, what will its profit be?"
dybincka [34]

Answer: $370,000

Explanation:

Your question isn't complete as there were some further questions asked before getting to this question.

The profit from 2,000 units at $349 will be:

Profit = Total revenue – Total cost

Total revenue = (P x Q)

= $349 x 2000

= $698000

Total cost = [FC + (UVC x Q)]=

= [$38,000 + ($145 x 2,000)]

=$38000 + $290000

= $328000

Profit = Total revenue - Total cost

Profit = $698000 - $328000

Profit = $370000

5 0
2 years ago
g Which of the following is true about T accounts? a.The left side of a T account is called the credit side. b.The right side of
svp [43]

Answer:

cl i think the answer is A

6 0
3 years ago
What is the difference between accounts payable and accounts receivable?
NeX [460]

Accounts payable - <u>Accurately tracking what's owed to suppliers, ensuring payments are properly approved and processing </u><u>payments</u><u>.</u>

<u>\:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:</u>

Accounts receivable - <u>The balance of money due to a firm for goods or services delivered or used but not yet paid for by customers.</u>

5 0
2 years ago
1. ______ assist in the movement of goods and services from producers to industrial and consumer users. Exchange providers Finan
Nonamiya [84]

Answer:

Marketing Intermediaries

Explanation:

Marketing Intermediaries work as a thoroughput between operations that produce goods and operations who use those goods.

6 0
2 years ago
Dalton Industries makes all purchases on account, subject to the following payment pattern: Paid in the month of purchase: 25% P
sladkih [1.3K]

Answer:

The firm's budgeted payments in March is $206,500

Explanation:

The purchase pattern is categorized into three percentage  : 25%, 55% , and 20%

Here, following month is considered to be a month which is before than actual month.

The firm's budgeted payments in March is computed below:

= 25% of march month + 55% of February month + 20% of January month

= 25% × $240,000 + 55% × $190,000 + 20% × $210,000

= $60,000 + $104,500 + $42,000

= $206,500

Thus, the firm's budgeted payments in March is $206,500

5 0
3 years ago
Other questions:
  • Wilson is viewed by his boss as driven, tenacious, and conscientious in the pursuit of his goals. these characteristics fit with
    15·1 answer
  • In the statement of cash flows, inflows and outflows of cash from buying and selling trading securities typically are considered
    6·1 answer
  • Manuel, a supervisor, is known by his managers to be sharp in his decisions and has a good track record of meeting his goals. Ma
    6·1 answer
  • The night owl restaurant expects to sell 6,000 meals during the upcoming month with an average variable cost per meal sold of $6
    15·1 answer
  • Which luxury brand shares its name with the french explorer who is credited with naming canada?
    11·1 answer
  • Country C used to be a command economy but is now in the process of altering its economic system to embrace free-market capitali
    14·2 answers
  • Ziegler Company properly applies the lower of cost and net realizable value rule and determines that its inventory value has dec
    8·1 answer
  • On January 1, 2021, Splash City issues $320,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and
    10·1 answer
  • Seabuds Corp., a company that sells canned fish, was banned from selling its products after the Food and Drug Administration (FD
    13·1 answer
  • a business wants to evaluate how much they're spending on their customers, versus how much their customers go on to spend. if th
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!