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vitfil [10]
2 years ago
8

he cash register tape for Larkspur Industries reported sales of $7,146.30. Record the journal entry that would be necessary for

each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $52.78. (b) Cash on hand exceeds cash reported by cash register tape by $29.45.
Business
1 answer:
lozanna [386]2 years ago
6 0

Solution:

(a) Cash to be accounted for exceeds cash on hand by $52.78.  

Cash to be accounted for is $7,146.30 .

That means cash on hand is short by $52.78.

Dr Cash                              $7,487.51

Dr Cash over and short       $57.71

Cr Sales                             $7,545.22

(b) Cash on hand exceeds cash to be accounted for by $29.45.

That means you have a cash overage of $29.45

Dr Cash               $7,590.10

Cr Sales                 $7,545.22

Cr Cash over and short $29.45

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tangare [24]

Answer:

Gain/loss= $7,500 loss

Explanation:

Giving the following information:

Selling price= $24,000.

Lassen bought the machine for $52,000 and has claimed $20,500 of depreciation expense on the machine

First, we need to calculate the book value:

Book value= original price - accumulated depreciation

Book value= 52,000 - 20,500= $31,500

If the selling price is higher than the book value, the company gain from the sale.

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2 years ago
If a contractor is planning to build a new apartment complex, he or she needs to consult the _______ to avoid any potential fine
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2 years ago
Ned's Natural Foods sells unshelled peanuts by the pound Historically, Ned has observed that daily demand is normally distribute
labwork [276]

Answer:

a) 749

b) 4.073

Explanation:

Given:

Mean = demand = 80 pounds

Standard deviation of demand = 10 pounds

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Standard deviation of lead time = 1 day

a) What ROP would provide a stock out risk of 10 percent during lead time.

To find this re-order point (ROP) quantity, take the formula:

ROP = d(LT) + z \sqrt{ LT \sigma_d ^2 +  LT^2 \sigma_L_T ^2}

Here, service level = 100%-10% = 90%,

Thus z at 90% = ±1.28

ROP = 80(8) + 1.28 \sqrt{8* 10^2 +  (8)^2*(1)^2}

ROP = 640 + 1.28\sqrt{800 +  64}

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b) What is the expected number of units (pounds) short per cycle.

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E(n) = E(z) * \sigma d_L_T

[

Where E(z) = standardized number of shorts = 0.048

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Therefore,

E(n) = 0.048 * 84.85

= 4.073

3 0
2 years ago
Stimpleton Company engages in the following cash payments: Purchase equipment $ 3,600 Pay rent 600 Repay loan to the bank 5,000
Svetradugi [14.3K]

Answer:

$1,100

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The cash receipts would be in terms of received cash from customers and the cash payments would be salary expenses, utilities expenses, etc that are paid in cash.

So, the total amount of cash paid for operating activities is

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Dima020 [189]
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5 0
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