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
blondinia [14]
3 years ago
15

A cash register tape reflected total sales equaling $100, but the cash in the cash register drawer equaled $105. Review the stat

ements below and determine which is correct regarding this discrepancy. (Check all that apply.) The Sales account will be credited for $100. The Cash account will be debited for $105. The extra $5 collected will be treated as a miscellaneous revenue. The Sales account will be credited for $105. The Cash Over and Short account will be credited for $5. The Cash Over and Short account will be debited for $
Business
2 answers:
Gnom [1K]3 years ago
8 0

Answer:

Sales account will be credited for $100

The cash account will be debited for $105

The cash over and short account will be for credited for the excess $5

The extra $5 will be treated as miscellaneous revenue

Explanation:

The accounting treatment of sales state that during a sale transaction , while the sales account is credited for the sales value , the cash or the account receivable is debited with corresponding value,

Untraceable cash is treated as miscellaneous.

While the cash account is a debit record of all the cash in possession , the cash over or short account is used to balance the excess of the cash that is not traceable to a particular transaction

Zolol [24]3 years ago
7 0

Answer:

The answer is given below;

Explanation:

The $ 5 collected will be treated as miscellaneous revenue.The cash over and short account will be credited for $5.

As the cash receipts are $ 105 and sales revenue is $100.The difference amount will be treated as miscellaneous revenue.

The journal entry will be;

Cash   Dr.$105

Sales Revenue    Cr.$100

Miscellaneous revenue Cr.$5

You might be interested in
The United States does not allow oranges from Brazil (the world's largest producer of oranges) to enter the United States. If Br
Nina [5.8K]

Answer:

The statement is True

If Brazilian oranges entered the United States, the number of oranges in the market would be higher, and if the quantity demanded remained more or less stable, the oranges prices would fall.

Changes in supply are those produced by anything other than price, thus, in this example we can see a change in supply, because the higher number of oranges has come from the market entry of new competitors : the brazilian orange providers.

5 0
2 years ago
What tends to happen to earnings as a person becomes more educated?
Stels [109]
As a person becomes more educated, the person may gain more money while working or applying to jobs and will gain more knowledge of their surroundings.
8 0
2 years ago
Suppose that over the last twenty-five years a country's nominal GDP grew to three times its former size. In the meantime, popul
frez [133]

Answer:

B. It increased, but it less than doubled

Explanation:

Real GDP per person is defined as the total economic output divided by the total number of people. It is used in roughly indicating the standard of living.

An increased in the nominal GDP 3 times its formal will lead to a proportionate increase in the GDP per person statistics. But I was a noted that there was a 100% increase in population, meaning that population doubled. This indicates that the GDP per person increased but it less than double because of the population doubling in that period of time.

7 0
3 years ago
Read 2 more answers
15 points!
nordsb [41]

Answer:

rent

Explanation:

The rent expense will be difficult to revise. Usually, the rent amount is contained in a tenancy agreement signed by both the landlord and the tenant. The rent amount does not change until the lease or tenancy agreement expires. Changing the rent amount would require the landlord's consent.

Due to the above reasons, rent is classified as a fixed cost. It remains constant in the short run.

5 0
2 years ago
Read 2 more answers
Larry, the owner of small hotel resort, would like to advertise his hotel in major American newspapers and magazines as a part o
timama [110]

Answer:

Serendipity

Explanation:

From the question we are informed about Larry, who is the owner of small hotel resort, would like to advertise his hotel in major American newspapers and magazines as a part of his larger strategy. However, he doesn't have enough money to do so. One day, he meets Todd, the owner of a group of newspapers and magazines, who offers him advertising space in his publications on the condition that Larry provides him with a free stay at the hotel. This is an example of Serendipity.

Serendipity can be regarded as unplanned fortunate discovery, which is a common occurrence that could take place throughout the history of a particular product invention as well as scientific discovery. It can be explained as the luck that comes to some people way as they are finding or creation of interesting things as well as valuable things by chance

5 0
3 years ago
Other questions:
  • ​sheldon goes to the grocery store to buy a few items, and when he gets there he can remember only the last few things that he w
    15·2 answers
  • A covert operation is defined and in which the president has certified its importance to america's national security
    8·1 answer
  • The question - in your opinion, why do most economists oppose policies that restrict free trade or trade among nations
    6·1 answer
  • Which of the following project evaluation methods focuses on accounting income rather than cash flows? None of the answers is co
    13·1 answer
  • You purchased 100 shares of stock value at $55 per share. The stock value increases to $85 per share what was the rate of increa
    12·1 answer
  • Many times a business sends out a multitude of materials to people across the country. If for every document they want to showca
    7·1 answer
  • How would the following transactions affect U.S. exports, imports, and net exports?
    11·1 answer
  • Lifetime goals are the vision that you have of how you want to live, work, play, and thrive during your entire life, rather than
    5·2 answers
  • When bonds are issued at their face amount, the journal entry will include a __________ to __________.
    6·1 answer
  • Employers are concerned with the changing demographics of mothers in the workforce because: Multiple select question. the number
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!