Identify the activities that pertain to a petty cash fund

Assignment Help Accounting Basics
Reference no: EM131828224

Question: (a) Identify the three activities that pertain to a petty cash fund, and indicate an internal control principle that is applicable to each activity.

(b) When are journal entries required in the operation of a petty cash fund?

Reference no: EM131828224

Questions Cloud

What kind of applications might use a sensor network : What kind of applications might use a sensor network? Why is a network architecture useful? List the five layers of the TCP/IP protocol suite.
How should restricted cash fund be reported on balance sheet : What was Apple's balance in cash and cash equivalents at December 31, 2014? Did it report any restricted cash? How did Apple define cash equivalents?
What is the relationship between a subnetwork and a node : What is the relationship between a subnetwork and a node? What kind of applications might use a desktop computer to Internet network?
What is the definition of data communications : What is the definition of a computer network, data communications, telecommunications, a local area network and a personal area network?
Identify the activities that pertain to a petty cash fund : Identify the three activities that pertain to a petty cash fund, and indicate an internal control principle that is applicable to each activity.
Determine the value of ending inventory : Pitt Limited is trying to determine the value of its ending inventory as of February 28, 2017, the company's year-end.
Which media type offers the lowest cost : Which media type offers the lowest cost? Which offers the best performance? Which offers the longest life? Which would you choose and why?
How might improve verbal and writing skills : For this Discussion, consider how using annotated bibliographies might improve verbal and writing skills.
Which of the current tape formats provides highest capacity : Which of the current tape formats provides highest capacity at lowest cost? Which is most reliable? Which is least likely to become obsolete 5 years from now?

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.

  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!

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