User Account

All Pages

Prepare journal entries for Metlock Company for June

Assignment Help Accounting Basics
Reference no: EM132739143

Question - Metlock Company established a petty cash fund on May 1 for $110. The company reimbursed the fund on June 1 and July 1 with the following results.

June 1: Cash in fund $3.30.Receipts: delivery expense $27.80, postage expense $38.20, and miscellaneous expense $38.60.July 1: Cash in fund $3.90.Receipts: delivery expense $21.85, entertainment expense $52.05, and miscellaneous expense $32.20.

On July 10, Metlock increased the fund from $110 to $140.

Required - Prepare journal entries for Metlock Company for May 1, June 1, July 1, and July 10.

Reference no: EM132739143

Questions Cloud

Reached through vehicle of plan : Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act.
Explain the functions such as payroll were outsourced : You have just been brought in as the HR Manager for a rapidly growing start-up company. Founded in 2014, employment has grown from 26 employees in 2014 to 214.
Compute for December the Total Stockholders Equity : The Common Stock account for Alpha Corporation on January 1, 2019 was $37,500. Compute for December the Total Stockholders Equity
Why is assessment critical to instruction : Why is assessment critical to instruction? What are the processes in place in your student teaching classroom to assess student learning?
Prepare journal entries for Metlock Company for June : Metlock Company established a petty cash fund on May 1 for $110. Prepare journal entries for Metlock Company for May 1, June 1, July 1, and July 10
Identify three key dependent variables in the case study : Identify three key dependent variables in this case study (Hint: dependent variables are the outcomes of interest to the organization)?
Spirit catches you and you fall down by anne fadiman : Health is a cultural construct, arising from beliefs about the nature of disease and the human body, cultural issues are actually central in the delivery
What is the difference between diversity and inclusion : What is the difference between diversity and inclusion? Provide an example illustrating the difference between diversity and inclusion
Make an income statement for the financial year in good form : Investments 22,500 Patents 12,500 Maintenance Expense 3,000. Make an Income Statement for the financial year in good form

Reviews

Write a Review

Accounting Basics Questions & Answers

  The cost accountant for blue pharmaceuticals has informed

the cost accountant for blue pharmaceuticals has informed you that the companys materials quantity variance for the

  Calculate Lisa Basic Tax Payable

Wages (Melbourne employment) - $125,000 net wages, Calculate Lisa's Basic Tax Payable. Show all workings

  Set up separate accounts for distinct types of intangibles

Powerglide Company, organized in 2011, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2012.

  Describe the role of managerial accounting

Describes at least three managerial accounting techniques available and their application within a business or organization.Define managerial accounting

  Prepare a production budget by quarters

The ending raw materials and finished goods inventories at December 31, 2019, Prepare a production budget by quarters for the 6-month period ended June

  Prepare the current tax worksheet for the year

Create and Discuss the factors the company should have considered before recognising a deferred tax asset with respect to the tax loss incurred in the year

  Compute beta coefficient for each stock-company

i. Compute beta coefficient for each stock/company. (30) ii. Assuming a risk free rate is 8% and expected return for the market portfolio is 15%, compute required return for all the stocks (15) iii. Indicate which stocks are undervalued or overvalued..

  Evaluate the project npv

A project has annual cash flows of $3,000 for the next 10 years and then $8,500 each year for the following 10 years. The IRR of this 20-year project is 13.12%.

  Identify the major requirements of ifrs

Identify the major requirements of IFRS 1 for companies adopting IFRS for the first time. Identify the key impacts of IFRS 15 on US Companies.

  Discuss the main causes of polarization

Discuss the main causes of polarization. Was the US always polarized or is this a relatively new concept? What causes are consistent across all the articles?

  How much was their making work pay credit

Jack and Jill are married filing jointly. In 2009 Jack had salary of $10000. Jill had interest income of $1000. How much was their making work pay credit

  Marple associates is a consulting firm that specializes in

marple associates is a consulting firm that specializes in information systems for construction and landscaping

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