Help Save Royal Jewels, a retail business, started business on June 25, 2019.It
ID: 2337146 • Letter: H
Question
Help Save Royal Jewels, a retail business, started business on June 25, 2019.It keeps a $300 change fund in ts cash for the period from June 25 to June 30, 2019 are below. DATE TRANSACTIONS Cash count, $1,530 Cash count, $1,641. Cash count, $1, 662. Cash count, $1,583 Cash count, $1,440 June 25 Cash sales per the cash register tape, $1,237. 26 Cash sales per the cash register tape, $1,351 27 cash sales per the cash register tape, $1,361. 28 Cash sales per the cash register tape, $1,293. 29 cash sales per the cash register tape, $1,137. 30 Cash sales per the cash register tape, $1,379. Cash count, $1, 669 Required 2. Record the cash receipts from June 25 to June 30, 2019, in a general journal 3. Post the amounts for Cash Short or Over in the joumal entries to the general ledger Analyze How vwill the balance in Cash Short or Over on June 30 be reported in the financial statements? Complete this question by entering your answers in the tabs below. 1of2… Next>Explanation / Answer
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Analyze:
The debit balance of $33 in the Cash short or over account on June 30, 3019 will be reported in the income statement as an expense.
Date General Journal Debit Credit 1 Jun 25, 2019 Cash 1230 Cash short or over 7 Sales revenue 1237 2 Jun 26, 2019 Cash 1341 Cash short or over 10 Sales revenue 1351 3 Jun 27, 2019 Cash 1362 Cash short or over 1 Sales revenue 1361 4 Jun 28, 2019 Cash 1283 Cash short or over 10 Sales revenue 1293 5 Jun 29, 2019 Cash 1140 Cash short or over 3 Sales revenue 1137 6 Jun 30, 2019 Cash 1369 Cash short or over 10 Sales revenue 1379Related Questions
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