The accountant for Ye Olde Bookstore balanced out the cash register for the day. The company began the day with $125 and ended the day with $1,150.25 in the cash drawer. That day's cash register tape shows $1,031.50 in cash sales. What is the effect on the financial statements of the entry to record the day's sales and any related overage or shortage? Assets=Liab.+Stk.EquityRev.?Exp.=Net Inc.Stmt of CashFlowsA.1,150.25 NA 1,150.251,150.25 NA 1,150.251,150.25 OAB.1,031.50 NA 1,031.501,031.50 NA 1,031.501,031.50 OAC.1,025.25 NA 1,025.251,031.50 6.25 1,025.251,025.25 OAD.1,025.25 NA 1,025.25294.76 3.25 1,025.251,025.25 FA
A. Option A
B. Option B
C. Option C
D. Option D
Answer: C
You might also like to view...
Corporations must be incorporated in the states in which they do most of their business
Indicate whether the statement is true or false
Content-oriented theories tend to focus on individual behavior in specific settings and are more sophisticated than process theories.
Answer the following statement true (T) or false (F)
Greer Company pays Jamal Perry a salary of $4000 per week. How much FICA tax must Greer pay with regards to this employee (including both the employee and employer portions)? (Assume a Social Security rate of 6 percent on the first $110,000 of income and a Medicare rate of 1.5 percent on all earnings.)
A. $600 B. $480 C. $0 D. $300
A recent study found that, compared to the 1980s, managers today place what importance on moral values, such as honesty and forgiveness?
A. Triple the importance. B. Slightly more important. C. Less important. D. About the same importance.