In general journal form, prepare journal entries to establish a petty cash fund on March 1 and
Question:
201X
March 1 A $102 petty cash fund is established.
31 At the end of the month, $22 cash plus the following paid vouchers exist: donations expense, $18; postage expense, $17; office supplies expense, $25; miscellaneous expense, $20.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
Mar 1 Petty Cash 1 0 2 00 Cash 1 0 2 00 Establishment 31 ...View the full answer
Answered By
Ajeet Singh
Professional, Experienced, and Expert tutor who will provide speedy and to-the-point solutions.
I have been teaching students for 5 years now in different subjects and it's truly been one of the most rewarding experiences of my life.
I have also done one-to-one tutoring with 100+ students and help them achieve great subject knowledge.
I have expertise in computer subjects like C++, C, Java, and Python programming and other computer Science related fields.
Many of my student's parents message me that your lessons improved their children's grades and this is the best only thing you want as a teacher. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students.
4.90+
7+ Reviews
15+ Question Solved
Related Book For
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780133791006
13th Edition
Authors: Jeffrey Slater
Question Posted:
Students also viewed these Cost Accounting questions
-
The journal entry to establish a petty cash fund is the following: a. Dr. Petty Cash $XXX, Cr. Cash $XXX b. Dr. Petty Cash $XXX, Cr. Supplies $XXX c. Dr. Cash $XXX, Cr. Petty Cash $XXX d. Dr. Cash...
-
McMann, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. On April 1, it...
-
Carolyn Keene, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April. 1. On April...
-
Smile is a social media site that is growing in popularity. The firm has been around for a few years and has created a nice market niche for itself. Now the company has a possible buyer who has made...
-
Convex mirrors are used in stores to provide a wide angle of surveillance for a reasonable mirror size. The mirror shown in Figure allows a clerk 5 m away from the mirror to survey the entire store....
-
What are the IT support needs for access to a patients medical history, and does this differ for routine versus provided by an MMC versus emergency care (such as post-9/11)? The Childrens Health Fund...
-
What is the rate of return for a $\$ 14,000,20$-year investment that provides a payout of $\$ 1,000$ a year?
-
Oak Industries, a manufacturer of radio and cable TV equipment and an operator of subscription TV systems, had a multitude of problems. Subscription services in a market area, for which $ 12 million...
-
Calculate operating working capital. Cash 8 1 , 5 9 7 . 4 Investments 9 , 9 9 0 . 1 Inventory 1 1 7 , 2 9 8 . 4 Receivables 1 0 8 , 0 6 7 . 5 Prepaid expenses 2 8 , 5 4 3 . 0 Other current assets 1 0...
-
Marcella, who is from Toledo, Ohio, drives to Troy, Michigan, and shops at a popular mall. When leaving the parking lot, Marcella causes a car accident when she runs a stop sign. 1. What is the name...
-
From the following information, construct a bank reconciliation for Bang Co. as of February 28, 201X. Then prepare journal entries if needed. Checkbook balance $1,314 Outstanding checks Bank...
-
If in Exercise 6A-2 cash on hand is $16, prepare the entry to replenish the petty cash on March 31. In Exercise 6A-2 March 1 A $102 petty cash fund is established. 31 At the end of the month, $22...
-
The following Treasury bond quote appeared in The Wall Street Journal on May 11, 2004: Why would anyone buy this Treasury bond with a negative yield to maturity? How is this possible? 9.125 May 09...
-
A company held a contest, and the following information was included in the fine print: Read this information carefully, and calculate the expectation (to the nearest cent) for this contest. Prize...
-
In Problems 13-24, suppose a die is rolled twice and let \[\begin{array}{ll}A=\{\text { first toss is a prime }\} & B=\{\text { first toss is a } 3\} \\C=\{\text { second toss is a } 2\} & D=\{\text...
-
What is the expectation for the \(\$ 1\) bets in Problems 21-30 on a U.S. roulette wheel? See Figure 13.8 Five-number bet 4 16 33 1 20 14 31 9 22 18 29 28 12 35 3 26 0 32 15 19 4 21 2 25: 4 21 2 25...
-
Use the sample space shown in Figure 13.5 to find the probabilities in Problems 32-39 for the experiment of rolling a pair of dice. Figure 13. 5 \(P(\) five \()\) THE 36 WAYS DICE CAN ROLE O 8
-
Three fair coins are tossed. What is the probability that at least one is a head?
-
Presented below are the components in Veasy Companys income statement. Determine the missing amounts. Sales Cost of Gross Operating Expenses Net Revenue Goods Sold Profit Income (a) $ 75,000 (b)...
-
Simplify the expression. Assume that all variables are positive. 23VI1 2 V44 8
-
Journalize the following transactions. Assume a perpetual inventory system. 201X Jul. 8 Sold merchandise on account, $640, Ring; terms 2/10, n/30. Cost of merchandise was $380. 12 Purchased office...
-
Rodney Fey recently opened Rodneys Skate Shop. As the bookkeeper of the company, please journalize, record, and post when appropriate the following transactions (account numbers are Store Supplies,...
-
Rodney Fey recently opened Rodneys Skate Shop. As the bookkeeper of the company, please journalize, record, and post when appropriate the following transactions (account numbers are Store Supplies,...
-
Let's assume your lab balloons, when filled with air, each had a mass of 3.00 grams. In a variation of your lab activity, you attach one of these balloons to a string such that the distance from the...
-
Samantha normally requires 1 3 7 0 0 kJ ( about 3 2 7 4 Calories ) of food energy per day. If Samantha consumes 1 4 3 8 5 kJ per day, she will steadily gain weight. How much time must Samantha spend...
-
Five resistors with known resistances R = 5.00 2, R2 = 5.00 2, R3 = 3.00 Q2, R4 = 5.00 Q, and R5 = 5.00 Q are connected to a battery with emf = 7.00 V as shown in the figure. Please answer in Sl...
Study smarter with the SolutionInn App