User Account

All Pages

Explain what will say about the petty cash fund

Assignment Help Accounting Basics
Reference no: EM132724718

Problem 1: You work as an administrative assistant for a small company and are in charge of the petty cash fund. Another administrative assistant Gloria asked to borrow $40 from the fund until payday, which is in two days. A person loan is not stated as specifically against company policy, but it is also not listed as an approved use of petty cash. To keep Gloria's goodwill, you decide to make the loan and not record it in the petty cash record. Typically, no one else reviews the records, and you think only you and Gloria will know about the loan. On the way home that day, you are in an accident and will not able to report to work for two weeks. Your manager has asked you to send an e-mail with details about things you temporary replacements needs to handle. What will you say about the petty cash fund? Should you have made the loan to Gloria? Why or Why not?

Reference no: EM132724718

Questions Cloud

Why is control important to customer interactions : Supposed you are a team leader in school. What will be your daily priorities for your team?
Indicate the amount that would be deducted : Indicate the amount(s) that would be deducted from 2018 business income if no election is made to put each photo- copier in a separate class.
Future challenges to american health care system : Discuss a minimum of three future challenges to the American health care system from the perspective of a health care manager.
Describe porter''s the six forces : Describe Porter's the six forces that affect the competition level in industry and tell about how these forces define the industrys competition intensity.
Explain what will say about the petty cash fund : You work as an administrative assistant, What will you say about the petty cash fund? Should you have made the loan to Gloria? Why or Why not?
Make a business concept-description of business : b. Make a Business Concept-Description of Business, Location, and Target Market
What was the profit or loss on disposal : At the date of disposal of the asset, the accumulated depreciation was $138,000. What was the profit or loss on disposal
Record the transactions and events in journal entry format : Record the transactions and events in the journal entry format. 1/15 Declared a property dividend, payable in bonds of Goodings Corp. being held to maturity.
Impact on lululemon business performance : Mention atleast five major obstacles and its impact on Lululemon's business performance.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Blanchard company manufactures a single product that sells

blanchard company manufactures a single product that sells for 140 per unit and whose total variable costs are 112 per

  Determine the deferred taxes to be reported at the end

The company pays taxes of $76,800,000 on $192,000,000 of taxable income in 2017. Determine the deferred taxes to be reported at the end of 2017

  Prepare a flexible budget estimate

Prepare a flexible budget estimate. Present side-by-side the budget, flexible budget estimate, and actual surgical revenue (and related volumes)

  Prepare journal entries for Sarasota Corp transactions

Truck #1 has a list price of $29,550 and is acquired for a cash payment of $27,383. Prepare journal entries for Sarasota Corp transactions

  How many pizzas must company sell to earn target net profit

How many pizzas should Five-Star Pizza sell in order to make a $60000 net profit? How many pizzas must the company sell to earn a target net profit of $50,000?

  What is the profit or loss associated with Copper

Allocate the joint costs using the relative sales values. With these costs, what is the profit or loss associated with Copper

  Will the interest expense reported in 2013 be the same as

on june 30 2012 mackes company issued 5000000 face value of 13 20-year bonds at 5376150 a yield of 12. mackes uses the

  Construct an rea diagram for naae

Using the list of data elements below (don't add or subtract any), construct an REA diagram for NAAE with entities, relationships, and participation cardinalities specified.  Additionally, you should use the information in the problem to identify ..

  Ignoring the cash inflows to the nearest whole dollar how

ignoring the cash inflows to the nearest whole dollar how large would the salvage value of the equipment have to be to

  In our feature story about super bakery inc we described a

in our feature story about super bakery inc we described a virtual corporation as one that consists of a core unit that

  Ford motor company is considering alternate methods

One method suggested was to report these discounts as financial income when payments are made. Comment on the propriety of this approach.

  Carolina clinic is considering investing in new heart

carolina clinic is considering investing in new heart monitoring equipment. it has two options option a would have an

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd