At the End of the Day, $443 in Cash Is

question 12

Multiple Choice

At the end of the day, $443 in cash is in the register, and the amount of the Change Fund is $100. If the cash register tape indicates $345, which of the following journal entries should be made?

• A) Debit Cash, $345; credit Sales, $345
• B) Debit Cash, $443; credit Sales, $443
• C) Debit Cash, $443; credit Cash Short and Over, $98; credit Sales, $345
• D) Debit Cash, $343; debit Change Fund, $100; credit Sales, $443
• E) Debit Cash, $343; debit Cash Short and Over $2; credit Sales $345

Identify and categorize non-cash transactions and their impact on the statement of cash flows.

Calculate net cash provided by operating, investing, and financing activities.

Recognize the importance of free cash flow and its computation.

Understand the impact of changes in current assets and liabilities on cash flows.

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Definitions:

Emotional Stability

A personality trait characterized by the consistent ability to remain calm, composed, and untroubled by stress or emotionally unsettling events.

Neuroticism

A characteristic of personality marked by feelings of worry, fear, unease, envy, annoyance, jealousy, and isolation.

Minnesota Multiphasic Personality Inventory

A psychological assessment tool comprising numerous true or false questions to diagnose psychiatric disorders.

Bizarre Thoughts

Bizarre thoughts are unusual or odd thoughts that might not have a logical basis, often perceived as strange or atypical in the context of cultural norms.