--%>
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 : Characteristics which accounting

    What are the key qualities or characteristics which accounting information should possess?

    		•
  • Q : Cash flows from operating activities

    The first section of the statement of cash-flow. Cash flows from operating activities include transactions (involving cash) that relate to the normal busi- ness activities of the entity. Cash-flows in this section usually involve cash and other current asset or curren

    		•
  • Q : What is Service What do you mean by

    What do you mean by Service: It is an intangible product or task rendered directly to a client or customer.

    		•
  • Q : Avoidable interest The amount of

      The amount of interest that an organization would have avoided if it had not made the expenditures for an asset. Avoidable interest is calculated when an entity is self- constructing an asset. The cost of the asset can include material, labor, and overhead plus some interest. The c

    		•
  • Q : Performance evaluation and

    Write down a short note on the Performance evaluation and control in decision making process?

    		•
  • Q : Define Cost Driver Cost Driver : Any

    Cost Driver: Any factor which causes a modification in the cost of an action or output. For illustration, the quality of portions received by an activity, or the degree of complexity of tax returns to be evaluated by the IRS.

    		•
  • Q : What are the steps involved in Process

    ACCOUNTING PROCESS:  The process of Accounting involves the following steps:

    Q : Acquisition entry on Balance Sheet 1.

    Q : Changing responsibilities of the

    Write a short note on the changing responsibilities of the management accountant?

    		•
  • Q : Define Fixed Cost Fixed Cost: The cost

    Fixed Cost: The cost which does not differ in the short term with the volume of action. Fixed cost information is helpful for cost savings by regulating existing capacity, or by removing idle facilities. Also termed as Non-Variable Cost or the Constan

    		•