How do record missing funds in cash short and over account

Assignment Help Financial Accounting
Reference no: EM133000888

Problem 1: The amount of cash in the petty cash fund is $85. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $360 and miscellaneous selling expense, $40. Record any missing funds in the cash short and over account.

Reference no: EM133000888

Questions Cloud

What level of incremental sales is associated : Assume customers will spend the same amount on either version. What level of incremental sales is associated with introducing the new? pizza
What is the total future value of all payments : What is the total future value of all payments 14 years from now if the interest rate is 2%? Suppose you will receive payments of $2,000, $16,000, and $4,000
How to calculate annualized geometric price return : How to calculate annualized geometric price return, if the ending price was 1634.04 and beginning price was 1559.68 and the period is 2016 until 2021 years.
Calculate cost per EUP for each cost component : During the month, 3,800 additional units were started. On May 31, 300 units were still in process. Calculate cost per EUP for each cost component
How do record missing funds in cash short and over account : Record any missing funds in the cash short and over account. The amount of cash in the petty cash fund is $85. Issued a check to replenish the fund.
Calculate the annualized geometric price return : How to calculate the annualized geometric price return?
What would be the value of the call and put option : The current stock price of asset ABC is $52. You consider buying call or put options on that stock with a strike price of 55 and a time to expiry of 6 months.
What is the net initial cash flow : The firm will spend $5,000 on shipping and installation. As a result of the purchase, inventory must increase $1,300. What is the net initial cash flow?
What is massa eva : What is Massa's EVA? Massa has $29 million in total invested operating capital , and WACC is 10%. Massa has the income statement

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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