Find which would be included in journal entry to replenish

Assignment Help Financial Accounting
Reference no: EM132958012

Problem 1: A petty cash fund was established with a $150 balance. It currently has cash of $30 and petty cash tickets as? follows: Office expense $130 and Entertainment Expense $10. Which of the following would be included in the journal entry to replenish the Petty Cash? fund?

a. credit to Cash Short? & Over for $20
b. credit to Cash Short? & Over for $10
c. debit to Cash Short? & Over for $20
d. debit to Cash Short? & Over for $10

Reference no: EM132958012

Questions Cloud

Discuss the effects of employee layoffs : Discuss the effects of employee layoffs. Identify Three ways that layoffs can affect other employees in the organization
What is the annual total inventory management costs : The carrying cost is $0.22 per post card per year. The ordering cost is $460 per order. What is annual total inventory management costs of post card inventory
Calculate depreciation expense using straight-line method : Calculate depreciation expense using the straight-line method for 2020 and 2021. On July 1, 2020 Headlands's Greenhouse purchased a new delivery truck
Draw a network design that you think : Draw a network design that you think will be useful in the future for the industry that you have visited. Network should include the following requirements
Find which would be included in journal entry to replenish : Find which would be included in the journal entry to replenish the Petty Cash? fund? A petty cash fund was established with a $150 balance.
Determine the amount that will be reported on pharoah : Determine the amount that will be reported on Pharoah's December 31, 2020 and 2021, balance sheets. Pharoah Company has a December 31 fiscal year end.
Which journal entries is needed to adjust for the nsf? check : A? customer's check for $1,260 was returned for nonsufficient funds. Which of the following journal entries is needed to adjust for the NSF? check?
Which of the journal entries is needed to adjust for error : The bookkeeper of Wilson Electric? Supply, Inc. recorded, Which of the journal entries is needed to adjust for this error in the books of the? company?
What should be the estimated warranty liability : After preparing the adjusting entries at the end of its fiscal year end on December 31, 2021, what should be the "Estimated Warranty Liability" account balance

Reviews

Write a Review

Financial Accounting Questions & Answers

  Calculate the net present value of each given project

Calculate the payback period for each project. Calculate the Net Present Value (NPV) of each project. Advise management on which, if either, project to pursue and why.

  Why gain is recognized in the calculation of profit or loss

f a company adopts the revaluation method in relation to an item of property, plant and equipment, why it is still necessary to charge depreciation in relation

  Preparation of the income statement

Anest has asked you to prepare an accrual basis income statement for the year-The following information should help in the preparation of the income statement

  What is the value of windfall

Your winnings will be paid as $2,100,000 per year for the next 20 years. If the appropriate interest rate is 5.4 percent, what is the value of your windfall?

  Did any characteristics of your client change

You are an auditor filing an 8-K Interim Event. Describe your client and what circumstances led you to decide you needed to file this report. Now, in a follow-up post, imagine you need to file an S-1 IPO Registration report on behalf of the same clie..

  Performance evaluation case study

Think of Citibank’s new strategy (customer service and relationship banking). What were the limitations of the previous performance measurement system? Is the old system aligned to strategy? What changes were required to the system to better align to..

  Find which of the statements is correct for hkt co

Find Which of the statements is correct for HKT Co? HKT Co. produces and sells two products, A and B. Revenue and cost data are shown

  What are the ethical issues involved in this situation

Steve Morgan, controller for Newton Industries, was reviewing production cost reports for the year. One amount in these reports continued to bother him—advertising. Who are the stakeholders in this situation? What are the ethical issues involved in t..

  Determine the corporations income tax liability

In each of the following independent situations, determine the corporation's income tax liability. Assume that all corporations use a calendar year for tax purposes and that the tax year involved is 2014.

  Case-the early start learning essentials company

The Early Start Learning Essentials Company has been a family run company for the last 30 years. It is well recognized in the state of Michigan for selling

  What was Japeth beginning balance

Japeth's statement of changes in owner's equity shows net income of $25,000, owner's drawings of $5,000. What was Japeth's beginning balance

  Business Report topic - Accounting for finance leases

BO1COAC318 Corporate Accounting Assignment - Business Report, Kent Institute Australia. Accounting for finance leases by manufacturer or dealer lessors

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!

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