Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Petty Cash Fund Journalize the necessary entries for each of the following: a. Issued a check to establish a petty cash fund of $1,270. If

image text in transcribed
image text in transcribed
Petty Cash Fund Journalize the necessary entries for each of the following: a. Issued a check to establish a petty cash fund of $1,270. If an amount box does not require an entry, leave it blank. Petty Cash Cash Check My W a. Recall that the only time Petty Cash is used is hen the fund is initially established or increased. b. The amount of cash in the petty cash fund is $160. Issued a check to replenish the fund, based on the following summary of petty cash receiptst store supplies, $780 and miscellaneous selling expense, $280. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blank. Store Supplies Miscellaneous Selling Expense Cash Short and Over Cash Sarbanes-Oxley Internal Control Report Using Wikipedia (www.wikipedia.org), look up the entry for Sarbanes-Oxley Act. Look over the table of contents and find the section that describes Section 404. Section 404 requires management's internal control report to: Oa. State the mapanability of management for establishing and maintaining an adequate internal contral structure and procedams for financial reporting Ob. State the responsibility of auditora for establishing and maintaining an adequato internal control structure and procedures for financial reporting xc. contain an assessment as of the end of the issuere fiscal year of the effectiveness of the internal control structure and procedures of the issues for financial reports Od. "State the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting and Cont an assessment as of the end of the issue's fiscal year of the effectueness of the internal control structure and procedures of the issuer for financial reporting e. None of these choices are correct. Check My Work Review the section on management responsibility and financial assessment

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial accounting

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel

IFRS Edition

9781119153726, 978-1118285909

More Books

Students also viewed these Accounting questions

Question

How is climate different from the weather?

Answered: 1 week ago