Given the Following Information What Is the Amount of Cash Over and Short?
A)

question 28

Multiple Choice

Given the following information:
$\begin{array}{llll}\text { Petty cash balance } & \$ 450.00 & \text { Courier receipt } & \$ 82.50 \\\text { Postage receipt } & \$ 48.00 & \text { Office Supplies receipt } & \$ 56.22\\\text { Business meal receipt }& \$ 102.34&\text { Cash on hand at the end of the month}& \$ 76.21 \end{array}$
What is the amount of cash over and short?

• A) Debit $84.73.
• B) Credit $84.73.
• C) Debit $160.94.
• D) Credit $160.94.
• E) No cash over or short would be recorded.

Calculate and compare unit product costs under traditional and activity-based costing.

Allocate materials handling costs based on different bases (e.g., direct labor-hours, material moves).

Derive activity rates for cost pools in an ABC system.

Apply overhead based on direct labor-hours using traditional costing methods.

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Definitions:

Non-controlling Interest

The share of ownership in a subsidiary that doesn't belong to the parent company.

Consolidated Balance Sheet

A financial statement that combines the assets, liabilities, and equity of a parent company and its subsidiaries, presenting them as a single economic entity.

Cost Method

An accounting approach where investments are recorded at their original purchase cost, only adjusting for impairment or sale.

Intercompany Sales

Transactions involving the exchange of goods or services between entities within the same parent company.