Prepare journal entries for each of the following: A. Issued a check to establish a petty cash
Question:
Prepare journal entries for each of the following:
A. Issued a check to establish a petty cash fund of $600.
B. The amount of cash in the petty cash fund is $130. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $410, and miscellaneous selling expense, $50. Record any missing funds in the cash short and over account.
Step by Step Answer:
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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 Business questions
-
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 that occurred during Tio Networks Corporations first year ofoperations: 2014 Jan. 15 21 15 Issued 2,000 common shares to the...
-
Prepare journal entries for each of the following selected transactions. a. On January 15, Kolby Anderson opens a remodeling company called Fancy Kitchens by investing $75,000 cash along with...
-
Find the critical points of the function. Then use the Second Derivative Test to determine whether they are local minima, local maxima, or saddle points (or state that the test fails). f(x, y) = x -...
-
Suppose that 50 units of a good are demanded at a price of $1 per unit. A reduction in price to $0.20 results in an increase in quantity demanded to 70 units. Show that these data yield a price...
-
Determine the yield ratios (offer receivers/applicants, new hires/applicants), time lapse or cycle times (days-to-offer, days-to-start), and retention rates associated with each recruitment source.
-
As part of his examination of the financial statements of the Marlborough Corporation for the year ended March 31, 19X1, Marion Romito, CPA, is reviewing the balance-sheet presentation of a \(\$...
-
During the year ended June 30, 2012, the following transactions were recorded by St. Anns College, a private institution: 1. Tuition and fees amounted to $6,800,000, of which $4,500,000 was received...
-
3. Write a C program using float to convert Celsius to Fahrenheit. Input and output syntax as below: Input: Enter temp in Celsius: 32 Output:Temperature in Fahrenheit: 89 (20 mark)
-
In this exercise you will be assuming the role of an Account Manager working within our Personal Care Appliances category during Amazon Black Friday. You act as a general manager responsible for...
-
The actual cash received from cash sales was $61,355, and the amount indicated by the cash register total was $61,380. Journalize the entry to record the cash receipts and cash sales.
-
Seaforth International wrote off the following accounts receivable as uncollectible for the year ending December 31: Customer Amount Kim Abel $ 21,550 Lee Drake 33,925 Jenny Green 27,565 Mike Lamb...
-
Refer to the data in Exercise 6-39. Compute the individual product costs per unit assuming that Tiger Furnishings uses machine-hours to allocate overhead to the products. Data From Exercise 6-39:...
-
This is the best way to order elements in a 1D array. O Bubble Sort O Enhanced Bubble Sort O Super Quick Sort O Binary Search
-
Attached is a 6 weeks tracking of 3 portfolio of stocks. I want to know: How to calculate the ROI for each stock and portfolio and their values? How to calculate and what the Rate of Return, Expected...
-
Review Chapter 14 & 15 and reference chapter concepts when answering the following questions: Chapter 14:...
-
Suppose that an analyst has estimated a = 1.0 % and b= 1.10 On a day where there is good news, US GDP numbers came in very strong, which causes the market goes up by 1.0%. What is the expected return...
-
al 10 UNIVERSAL CONTROL CORP. BACKGROUND Universal Control Corp. is a leading supplier for process control systems and equipment used in a wide variety of production and distribution applications....
-
Given the situation in Theorem 4, write f(x) = r0p0 (x) + r1p1(x) + + rmpm (x) Suppose that f(x) has at most k roots for any choice of the coefficients r0,r1,..., rm, not all zero. (a) Show that...
-
The following cost information was provided to you for analysis: September 12,000 Units Produced Costs: TIC TAC TOE TING August 10,000 P80,000 70.000 60.000 50,000 How much is the fixed cost per...
-
Journalize the following transactions in the accounts of Midwest Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables: Feb. 3....
-
Journalize the following transactions in the accounts of Dining Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables: Apr. 2. Sold...
-
At the end of the current year, the accounts receivable account has a debit balance of $1,400,000 and sales for the year total $15,350,000. Determine the amount of the adjusting entry to provide for...
-
You are planning to retire in 30 years. You want to be able to spend $40,000 per year in retirement, adjusted for inflation (so you will spend the equivalent in each year of $40,000 in today's...
-
From a lawsuit, you have been awarded a 31-payment, constant growth annuity. The first payment is at Year O and is equal to $380, and each subsequent payment will be paid in 16 month intervals, with...
-
You will receive 13 payments of $535, where the first payment will be received today (Month 0) and all other payments will be received in 10-month intervals (Months 10, 20, 30 ... 120). Assume that...
Study smarter with the SolutionInn App