The actual cash received from the day's cash sales was $27,213, and the amount indicated by the cash register total was $27,246.
1. Amount deposited in the bank for the day's sales
The actual cash received from the day's cash sales was $27,213. This is the amount that will be deposited in the bank.
Answer: The amount deposited in the bank for the day's sales is $27,213.
2. Amount recorded for the day's sales
The amount indicated by the cash register total was $27,246. This is the amount that should be recorded for the day's sales.
Answer: The amount recorded for the day's sales is $27,246.
3. Recording the difference
The difference between the cash register total and the actual cash received is:
4. Action for consistently over or short cashier
If a cashier is consistently over or short, it indicates a potential problem. The following actions should be considered:
Training: Provide additional training to the cashier to ensure they understand the correct procedures and improve their accuracy.
Monitoring: Increase supervision and monitoring of the cashier's work to ensure compliance with procedures.
Disciplinary Action: If discrepancies continue despite training and monitoring, disciplinary action may be necessary, ranging from warnings to termination depending on the severity and frequency of the discrepancies.
Answer: The cashier's procedures should be investigated and additional training provided. Increased monitoring and supervision should be implemented, and if discrepancies continue, disciplinary action may be necessary.
1. What is the amount deposited in the bank for the day's sales?
Answer : $27,213.
2. What is the amount recorded for the day's sales?
Answer : $27.246
3. How should the difference be recorded? Answer : The cash shortage of $ Answer: 33 should be recorded as Answer: Cash Short and Over.
3. How should the difference be recorded? Answer : The cash shortage of $ Answer: 33 should be recorded as Answer: Cash Short and Over.
4. If a cashier is consistently over or short, what action should be taken?
Answer: The cashier should receive additional training.
Expert Explanation
Let's go through each part of the question step by step.
Expert Explanation
Let's go through each part of the question step by step.
1. Amount deposited in the bank for the day's sales
The actual cash received from the day's cash sales was $27,213. This is the amount that will be deposited in the bank.
Answer: The amount deposited in the bank for the day's sales is $27,213.
2. Amount recorded for the day's sales
The amount indicated by the cash register total was $27,246. This is the amount that should be recorded for the day's sales.
Answer: The amount recorded for the day's sales is $27,246.
3. Recording the difference
The difference between the cash register total and the actual cash received is:
27,246−27,213=33
This difference of $33 should be recorded in the books.
Answer: The difference of $33 should be recorded as "Cash Short and Over" expense.
This difference of $33 should be recorded in the books.
Answer: The difference of $33 should be recorded as "Cash Short and Over" expense.
4. Action for consistently over or short cashier
If a cashier is consistently over or short, it indicates a potential problem. The following actions should be considered:
Investigation: Review the cashier's procedures to identify the cause of discrepancies. This could include checking for errors in handling cash, giving change, or recording sales.
Training: Provide additional training to the cashier to ensure they understand the correct procedures and improve their accuracy.
Monitoring: Increase supervision and monitoring of the cashier's work to ensure compliance with procedures.
Disciplinary Action: If discrepancies continue despite training and monitoring, disciplinary action may be necessary, ranging from warnings to termination depending on the severity and frequency of the discrepancies.
Answer: The cashier's procedures should be investigated and additional training provided. Increased monitoring and supervision should be implemented, and if discrepancies continue, disciplinary action may be necessary.
