--%>
Assignment Help - homework help

Cash shortage/overage

An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape. Any difference is entered in the cash overage/shortage account, and that account appears on the income statement.

 

   Related Questions in Managerial Accounting

  • Q : Explain Standard Costing Standard

    Standard Costing: A costing technique which joins costs to cost objects based on reasonable approximations or cost studies and by the means of budgeted rates instead of according to actual costs incurred. The predictable cost of gener

    		•
  • Q : Cash merger Business combination in

    Business combination in which the acquiring corporation buys all the assets of the target, recording them at fair market values. The target is absorbed into the acquiring corpora- tion, and has gains on the sales of the assets that appear on its last tax return. In ad

    		•
  • Q : What is Uncontrollable Cost What is

    What is Uncontrollable Cost: The cost over which an accountable manager has no persuade.

    		•
  • Q : Determine & Analysis on Income

    The DU Inn The DU Inn is an 80-room hotel located on some mountaintop in Colorado. That has no bar or restaurant &is positioned as a mid-priced, good quality "homey" hotel.  It is open only during

    		•
  • Q : Illustrations of unethical and

    Write down a brief note on the illustrations of unethical and unacceptable actions?

    		•
  • Q : Partnership from Accounting point of

    Describe the status of partnership from an accounting point of view? Answer: From an accounting point of view, partnership is a separate business entity. From legal

    		•
  • Q : Explain Process Value Analysis Process

    Process Value Analysis: Tools and methods for studying processes via customer value analysis. Its objective is to recognize opportunities for lasting enhancement in the performance of an association. It offers an in-depth review of wo

    		•
  • Q : Duties of Partner The duties of each

    The duties of each partner: The partners are beneath a fiduciary duty towards one another to: Render true accounts; Account for private gains; and Refrain from competition with the partnership firm.

  • Q : How do tax influence the cost of debt

    Normal 0 false false

  • Q : Explain Cost Allocation Cost Allocation

    Cost Allocation: This is a technique of assigning costs to activities, outputs, or other cost objects. The allocation base employed to assign a cost to objects is not essentially the cause of the cost. For illustration, assigning the

    		•