Solution for McGraw-Hill's Taxation of Individuals and Business Entities 7th Edition Chapter 11, Problem 1

by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie W
758 Solutions 19 Chapters 34341 Studied ISBN: 9781259334870 Taxation 5 (1)

Chapter 11, Problem Discussion_Questions 1 : 1. What is the purpose of a Cash...

1. What is the purpose of a Cash Turn-In Report? A Cashier‘s Report? A Daily Sales Report? Explain how each of these forms is used to control sales and cash in an operation.

Step-By-Step Solution

1. A Cash Turn-In Report is a form used to account for cash collected during a specific period of time such as a shift. Typically, this report is printed on the side of a cash deposit envelope. The purpose of the form is to assist the cashier in counting the cash drawer at the end of a shift. It is very similar to preparing a deposit slip for a bank deposit.

A Cashier‘s Report is a form used to account for the total revenue collected during a specific period of time, such as a shift. It is prepared at the end of every shift. If more than one cash register is used during a shift, a Cashier‘s Report is completed for each cash register.

The Daily Sales Report is a daily sales record used for review and analysis. It also can be used as a permanent accounting record.


Unlimited Access Free
Signup & Access More than 10 Million+
  • Textbook Solutions
  • Flashcards
  • Homework Answers
  • Documents
All Chapters Solved


Is this a textbook?

We do not endorse or sell any Textbooks in this service. This is only a solution guide for the textbook shown. So, you will find all the answers to questions in the textbook, indexed for your ease of use. ExploreNow!

I am unable to find the book I need.

You can request for your textbook to be answered. While you may get the book resolved within 15-20 days’ subject to expert availability and can access it at no cost if you are premium member, We encourage you to use our Study Help service for the specific question or even a full chapter you currently, need within a 24-48-hour window.

My book is similar but not the same!

This may be due to different versions or editions of the same book. You can check the table of contents and match the questions in each chapter (As you can see, the questions are free to view for the entire book). You can subscribe if you decide the step-by-step solutions will be useful albeit the differences.

Not all questions are answered!

We try not to post guidebooks that are under progress. However, some guides are so high in demand that we have to post them as we work on them. If you find the notification stating, "An expert is currently solving this for you" in the answer section, you can contact customer support to know the status or even get an instant answer if you are a premium member.

The ISBN's are not matching!

Check if there are other ISBN's mentioned on the book cover page. If it still does not match, check the samples available to ensure you are on the right guide. 

Can I see some samples?

Every chapter in the book has the first three solutions displayed in full for free. Browse the chapters and questions to view the same. 

Is it possible to see a specific answer before I subscribe?

Contact customer support via Live Chat to request the same. They will assist you with the full answer if it is a simple question or a partial answer to assure you of the availability if it is a large solution.