a. Describe the entries that have been posted to the following accounts after the Change Fund was

Question:

a. Describe the entries that have been posted to the following accounts after the Change Fund was established.

b. How will the balance of Cash Short and Over be reported on the income statement?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

College Accounting A Career Approach

ISBN: 978-1337280563

13th edition

Authors: Cathy J. Scott

See More Books

Question Posted: Aug 04, 2017 09:39 AM

See More Questions

The cost of merchandise sold reported on the income statement was $770,000. The accounts payable balance decreased $44,000, and the inventory balance decreased by $66,000 over the year. Determine the...
The cost of merchandise sold reported on the income statement was $240,000. The accounts payable balance increased $12,000, and the inventory balance increased by $19,200 over the year. Determine the...
The cost of goods sold reported on the income statement was $240,000. The accounts payable balance increased $12,000, and the inventory balance increased by $19,200 over the year. Determine the...
After 1 0 0 0 B . C . E . trade in Greece allowed for the accumulation of wealth by Kings Aristoi Farmers Foreigners
A 60-mL flask is filled with mercury at 0oC (Figure). When the temperature rises to 80oC, 1.47 g of mercury spills out of the flask. Assuming that the volume of the flask is constant, find the...
When a flashlight is operated, what is being used up; battery current, battery voltage, battery energy, battery power, or battery resistance? Explain.
8. The forward-rate and spot-rate methods for discounting foreign-currency cash flows are equivalent if interest rate parity holds. Assume that interest rate parity does not hold for a specific...
A liquid storage system is shown below. The normal operating conditions are q 1 = 10 ft 3 /min, q 2 = 5 ft 3 /min, h = 4 ft. The tank is 6 ft in diameter, and the density of each stream is 60lb/ft....
Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Purchased Shares Basis 7/10/2010 570 $ 26,790 4/20/2011 470 24,816...
A firecracker is launched straight up, and its height is a function of time, h(t) = -16t 2 + 128t, where h is the height in feet and t is the time in seconds, with t = 0 corresponding to the instant...
Record entries in general journal form to record the following: a. Established a Petty Cash Fund, $100. Issued Ck. No. 587. b. Reimbursed the Petty Cash Fund for expenditures of $89: Store Supplies,...
Jennifer Ross, an employee of Hampton Company, worked 44 hours during the week of February 9 through 15. Her rate of pay is $30 per hour, and she receives time-and-a-half for work in excess of 40...
Animal: a living creature corporeal, distinct, on the one side, from pure spirit, on the other, from pure matter Criticize the following definitions in light of the eight rules for lexical...
Based on the case, Insights Analytics: Technology for a Knowledge Management Program attached . Please explain all 8 points. Explanation of each point should be 300words . Please attach the reference...
When women were finally allowed to become pilots of fighter jets, engineers needed to redesign the ejection seats because they had been originally designed for men only. The ejection seats were...
What will be the output of the following code snippet? with open ("hello.txt", "w") as f: f.write("Hello World how are you today") with open('hello.txt', 'r') as f: data = f.readlines () for line in...
Assume that females have pulse rates that are normally distributed with a mean of p = 72.0 beats per minute and a standard deviation of o = 12.5 beats per minute. Complete parts (a) through (c)...
The proposed rates were not in the range the CEO expected given the pricing analysis. The CEO has asked the pricing actuary to verify the total projected loss cost excluding potential large storm...
What are the critical success factors for a kNN implementation?
Determine the resultant moment produced by the forces about point O. 0.25 m 0.125 m, 0 0.3 m- 60 F = 500 N F = 600 N
Brake Systems, Inc. (BSI), makes brake rotors that it sells to automobile manufacturers. The average materials cost per rotor is $15.60, and the average labor cost is $8.50. BSI incurs approximately...
Intel Corporation is mostly known for manufacturing silicon chips for computers. Answer the following questions using the companys Form 10-K for the period ended December 31, 2012. The Form 10-K can...
Why is the cost-allocation method used by an organization an important part of its cost accounting system?
Chapter o Homew ebook 50,000-unit production quantity: $ 227,049 7 70,000-unit production quantity: $ 66,751 d. In addition to mean profit, what other factors should FTC consider in determining a...
Diamond makes downhill ski equipment. Assume that comic has offered to produce ski poles for Diamond for $20 per pair Diamond needs 200,000 pairs of poles per period Diamond can only avoid 5150,000...
17? Which of the following statement is true Select one: a. All evidence must have the same level of reliability b. All evidence must have the same level of persuasiveness C. All are false d....

a. Describe the entries that have been posted to the following accounts after the Change Fund was

Question:

Change Fund Sales Cash 150 Mar. 41,472 16 1,398 27 1,545 Mar. 4 1,475 16 1,397 27 1,541 Cash Short and Over Mar. 16 Mar. 4 3 27 4

Step by Step Answer:

a On March 4 the cash register tape showed that sales were 1472 whe...View the full answer

College Accounting A Career Approach

Students also viewed these Cost Accounting questions