User Account

All Pages

Find the journal entry to establish the petty cash fund

Assignment Help Accounting Basics
Reference no: EM132826332

On July 1, 2021, Cromartie Furniture established a $150 petty cash fund. A check for $150 was made out to the petty cash custodian. During July, the petty cash custodian paid the following bills from the petty cash fund:

Office supplies $36

Postage 22

Delivery charges 40

Bottled water 28

Total $126

At the end of July the petty cash fund was replenished.

Problem 1: The journal entry to establish the petty cash fund includes:

Reference no: EM132826332

Questions Cloud

How many months will the money last : Gustav inherited $1 million dollars, but he cannot access the funds until he turns 21, If the rate of return is 5%, how many months will the money last?
Journalize and post the adjusted entries : Journalize and Post the Adjusted Entries. The equipment costing 25,000 had an estimated useful life of 5 years with a residual value of 5,000
Identify two possible quantifiable benefits : Identify two possible quantifiable benefits and two possible intangible benefits that could flow to an organization that has installed an ERP system secondly
Determine the net realizable value of accounts receivable : Accounts receivable written off as worthless 55,000. Determine the net realizable value of accounts receivable at year-end
Find the journal entry to establish the petty cash fund : Find the journal entry to establish the petty cash fund includes. On July 1, 2021, Cromartie Furniture established a $150 petty cash fund.
Why do you want to become a nurse : Why do you want to become a nurse? What have you done in the past that changed the lives of others? What adjustments will you do to your current routine tha.
Calculate diluted earnings per share : Calculate diluted earnings per share for 2020. For simplicity, ignore the requirement to record the debt and equity components of the bonds separately
Discussion about a family survey : Complete the following as a team: Build your team's assessment toolbox by gathering assessments from each of the categories listed.
What is issuance of bonds with premium : What is Issuance of Bonds with Premium and explain the accounting issuance process. What is Issuance of Discount Bonds and explain accounting issuance process.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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