Wilkinson Company established a $100 petty cash fund on August 1. On August 31, the fund had
Question:
Wilkinson Company established a $100 petty cash fund on August 1. On August 31, the fund had $11 cash remaining and petty cash receipts for postage $31, office supplies $42, and miscellaneous expense $16. Prepare journal entries to establish the fund on August 1 and replenish the fund on August 31.
Step by Step Answer:
Aug 1 Petty Cash 100 Cash 100 ...View the full answer
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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
-
Arvel Ltd. established a 100 petty cash fund on August 1. On August 31, the fund had 6 cash remaining and petty cash receipts for postage 31, office supplies 44, and miscellaneous expense 16. Prepare...
-
Craig Robinson Company established a $100 petty cash fund on August 1. On August 30, the fund had $9 cash remaining and petty cash receipts for postage $31, office supplies $42, and miscellaneous...
-
Prepare journal entries to record these transactions: (a) Benton Company retires its delivery equipment, which cost $41,000. Accumulated depreciation is also $41,000 on this delivery equipment. No...
-
1. Johnathan's utility for money is given by the exponential function: U(X)-4-4*100). a. Based on his utility function, what is his risk-odds for the S+/-1 deal, r($1)? b. Is Johnathan a deltaperson?...
-
The elasticity of a function f: is defined to be In general, the elasticity varies with x. Show that the elasticity of a function is constant if and only if it is a power function, that is, f (x) =...
-
Text messages have been a major source of revenue for cell phone carriers and for the first time in history the average number of text messages per month decreased from the second to the third...
-
Analyse the ways in which the long-term finance of a company may be provided. LO1
-
Sigma Company is authorized to issue 100,000 shares of common stock. The company sold 5,000 shares at $12 per share. Prepare journal entries to record the sale of stock for cash under each of the...
-
Benford's Law is best exemplified by what type of distribution curve? a. First digit numbers are evenly distributed b. First digit numbers do not follow a defined pattern c. Number sets will begin...
-
Find the next larger permutation in lexicographic order after each of these permutations. a) 1432 b) 54123 c) 12453 d) 45231 e) 6714235 f) 31528764
-
FUTA stands for Federal Unemployment Tax Act; and SUTA stands for State Unemployment Tax Act.
-
As a new staff accountant for the CPA firm of Eaton, Quayle, and Hale, you have been assigned to review the internal controls over mail cash receipts of Pritchard Company. Your review reveals the...
-
Find the probabilities for each, using the standard normal distribution. P(0 < z < 0.95)
-
You must select an orifice meter for measuring the flow rate of an organic liquid ( $\mathrm{SG}=0.8$, $\mu=15 \mathrm{cP}$ ) in a $4 \mathrm{in}$. sch 40 pipe. The maximum flow rate anticipated is...
-
A team of designers was given the task of reducing the defect rate in the manufacture of a certain printed circuit board. The team decided to reconfigure the cooling system. A total of 973 boards...
-
Level 98%: x1 = 49, n1 = 74, x2 = 62, n2 = 153 In Exercises 712, construct the confidence interval for the difference p1 p2 for the given level and values of x1, n1, x2, and n2.
-
Let X be a continuous random variable with the following PDF Find the MGF of X, M X (s). fx(x) = +) == 12e-1|2|1 e-A/).
-
The number of hours spent studying per day by a sample of 28 students In Exercises 2326, use technology to draw a box-and-whisker plot that represents the data set. 2 8 7 2 261 82 35 37 25 20 73 83...
-
In connection with the adoption of an eligible child who is a U.S. citizen and who is not a child with special needs, Sean pays $4,000 of qualified adoption expenses in 2018 and $3,000 of qualified...
-
Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment...
-
J. B. Kenton employs Sharla Knox at a salary of $32,000 a year. Kenton is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45% on Knoxs salary. In...
-
Angel Ruiz owns a business called Ruiz Construction Co. He does his banking at Citizens National Bank in Portland, Oregon. The amounts in his general ledger for payroll taxes and the employees...
-
General Manufacturing estimated that its total payroll for the coming year would be $425,000. The workers compensation insurance premium rate is 0.2%. REQUIRED 1. Calculate the estimated workers...
-
If you invest $7,776 today at an interest rate of 4.84 percent, compounded daily, how much money will you have in your savings account in 10 years? Round the answer to two decimal places. * use excel...
-
Calculate the value of a six-month futures contract on a Treasury bond. You have the following information: (Do not round intermediate calculations. Round your answer to 3 decimal places.) Six-month...
-
What happens to the value of a share of $94.41 if a company raises its current D/V ratio from 0.16 to the industry average of 0.20?
Study smarter with the SolutionInn App