Prepare journal entries for each of the following a. Issued a check to establish a petty cash
Question:
a. Issued a check to establish a petty cash fund of $800.
b. The amount of cash in the petty cash fund is $225. Issued a check to replenish the fund based on the following summary of petty cash receipts: repair expense $450, and miscellaneous selling expense $75. Record any missing funds in the cash short and over account.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 45% (11 reviews)
a Petty Cash 800 Cash 800 ...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
Students also viewed these Cost Accounting questions
-
Prepare journal entries for each of the following: a. Issued a check to establish a petty cash fund of $300. b. The amount of cash in the petty cash fund is $95. Issued a check to replenish the fund,...
-
Prepare journal entries for each of the following selected transactions. a. On January 13, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $80,000 cash along with...
-
Prepare journal entries for each of the following selected transactions. a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $70,000 cash along with equipment...
-
Question 13 Case Study - Little Pear Administration Pty Ltd (LPA) You are the payroll officer for Little Pear Administration Pty Ltd (LPA). Debra Foy is a company employee and has approached you with...
-
You are given the following information about Sasha Company's inventory for the month of April. Instructions (a) Calculate the cost of goods available for sale and the number of units of ending...
-
Compare the effects of the COVID- 19 pandemic on the airline industry to earlier shocks.
-
1. Draw a supply and demand diagram with the price of labour (the wage rate) on the vertical axis and the quantity of labour (the number of workers) on the horizontal axis. What will happen to...
-
Oxmoor Manufacturing Co. expects to make 40,000 chairs during the 2013 accounting period. The company made 4,000 chairs in January. Materials and labor costs for January were $20,000 and $30,000,...
-
What are the key factors that contribute to successful team dynamics, and how can organizations foster an environment conducive to high-performance teamwork while balancing individual autonomy and...
-
The town of Hillside has a surface reservoir that supplies water to the homes in the towns central residential district. A committee of residents is concerned about the systems capacity and wants to...
-
The following data were gathered to use in reconciling the bank account of Bradford Company: Balance per bank............... $17,000 Balance per company records.......... 5,765 Bank service...
-
Prepare journal entries for each of the following a. Issued a check to establish a petty cash fund of $750. b. The amount of cash in the petty cash fund is $325. Issued a check to replenish the fund...
-
Suppose that V is an inner product space and L: V V is an isometry, so ||L[v]|| = ||v|| for all v V. Prove that L also preserves the inner product: (L[v], L[w]) = (v, w).
-
A project with a life of 7 years is expected to provide annual sales of $350,000 and costs of $245,000. The project will require an investment in equipment of $625,000, which will be depreciated on a...
-
What users use financial reports? Why do these users need these reports? The initial post needs to be at least 100 words. Include the web address of your source.
-
In Canada, about what share of the labour force performs service (tertiary) sector work?
-
Bethany was in a car accident that damaged her car. Her policy has a $1,000 deductible and coverage limit of $10,000. The total damage was $7,000. How much money will Bethany receive from her auto...
-
In the past year inflation has been increasing in many countries. For simplicity, assume that there are only two countries in the World: Australia and the US. Their central banks adjust monetary...
-
Have you ever seen an old western movie in which a cowboy would drink half a bottle of whiskey in the saloon and then walk out and have a successful gunfight? That was possible because the whiskey...
-
A bar of a steel alloy that exhibits the stress-strain behavior shown in Figure 6.22 is subjected to a tensile load; the specimen is 375 mm (14.8 in.) long and has a square cross section 5.5 mm (0.22...
-
Are right-to-work laws a good idea? Why or why not?
-
A noted accountant once remarked that the optimal number of faulty TV sets for Sony to sell is not zero. even if Sony promises to repair all faulty Sony sets that break down, for whatever reason,...
-
Describe the similarities and differences between the allowance method for uncollectible (see Chapter 7) and the allowance method for warranties.
-
What does it mean for a firm to reverse a portion of a previously accrued charge, such as the expense creating a warranty liability or a restricting liability? What is the effect of a reversal on the...
-
PQR Supermarket purchases a specific type of cereal throughout the month of February 2023. The purchase and sales data for the month are as follows: February 1st: Beginning inventory - 100 units at...
-
in forecasting business figures for the coming year, Ling- Poi's owner is including planned purchases of $22000, and an initial markup percentage of 53%. What is Ling-Poi's cost of purchases figure?
-
How prepare a cover letter for accounting and payroll job posting? What include that responds specifically to the key information in accounting and payroll posting?
Study smarter with the SolutionInn App