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...
-
Minneapolis Health System has bonds outstanding that have four years remaining to maturity, a coupon interest rate of 9 percent paid annually, and a $1,000 par value. a. What is the yield to maturity...
-
7 Cada ao, los gerentes de Bausch and Lomb evalan las numerosas opciones de medios publicitarios que tienen a su disposicin cuando elaboran su programa de publicidad de lentes de contacto. Qu...
-
WHAT IF THE FACTS WERE DIFFERENT? If management employees had interrupted union-organizing activities twenty-five times rather than just two, would the outcome of this case have been different? Why...
-
Data Table 2018 2017 Current Assets: Cash $ 103,800 $ 21,000 Accounts Receivable 64,300 68,900 Merchandise Inventory 86,000 83,000 Current Liabilities: Accounts Payable Income Tax Payable 58,200...
-
Nutrition is often talked about in everyday pop culture. Nutrition science, however, is not always part of the conversation. Respond to the following in a minimum of 175 words: Discuss some examples...
-
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...
-
What are the requirements of an implied contract?
-
Each of the accompanying graphs shows a do plot of data from three separate random samples for each of the four graphs, indicate whether you think that the basic assumptions for single-factor ANOVA...
-
Program Milestones Milestone #1 - Selection GUI - Create Account/Login/Cancel Obtain a copy of Eclipse and complete "Getting Started in Eclipse". Create your project in Eclipse and the package and...
-
= The momentum transfer is q = ph - Ph, where p is the hadron momentum after the collision. This relationship holds for the time as well as the space components, i.e., for the 4-vectors. Thus, we...
-
When should HR be the interviewer, and when should a hiring manager or co-workers be involved? Should reference checking be done before or after the interview? Would you ask during the interview any...
-
1. Monoclean Company manufactures a single product, Glamour. The standard cost specification sheet shows the following standards for one unit of Glamour: 8 kg of material M @ $6.5 per kg $52 4 hours...
-
An empty spherical water tank with a radius of 8 m has its lowest point 2 m above the ground. A pump is used to move water from a source on the ground into the tank. a. How much work is done by the...
-
Sue Deliveau opened a software consulting firm that immediately paid $2,000 for a computer. Was this event a transaction for the business?
-
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...
-
Ray Company provided the following excerpts from its Production Department's flexible budget performance report. Required: Complete the Production Department's Flexible Budget Performance Report....
-
Problem 1 5 - 5 ( Algo ) Lessee; operating lease; advance payment; leasehold improvement [ L 0 1 5 - 4 ] On January 1 , 2 0 2 4 , Winn Heat Transfer leased office space under a three - year operating...
-
Zafra and Stephanie formed an equal profit- sharing O&S Partnership during the current year, with Zafra contributing $100,000 in cash and Stephanie contributing land (basis of $60,000, fair market...
Study smarter with the SolutionInn App