User Account

All Pages

Prepare the entries that are necessary to record independent

Assignment Help Financial Accounting
Reference no: EM132719934

Problem 1: Crane Company designated Alexa Kidd as petty cash custodian and established a petty cash fund of $390. The fund is reimbursed when the cash in the fund is at $61. Petty cash receipts shows that funds were disbursed for $160 of supplies and $166 of freight charges on inventory purchases. Prepare the entries that are necessary to record following independent transactions.

a) Assume that Crane decides to increase the size of the petty cash fund to $620 immediately after the reimbursement.

b) Assume that Crane decides to reduce the size of the petty cash to $240 immediately after the reimbursement

Reference no: EM132719934

Questions Cloud

What are the main issues that the article addresses : The article on IRB this week discusses broad consent under the revised Common Rule. When you are doing any sort of research you are going to need to have your.
How do make the journal entry to record the purchase : How do Make the journal entry to record the purchase of the building and land, including all expenditures. Assume that half the transaction was for cash
Determine John and Maria qualified business income deduction : Determine John and Maria's qualified business income deduction, if any, for 2020. Make sure to show your calculations
What are the trade offs between security and privacy : Write a 6-8 page paper (deliverable length does not include the title and reference pages) What are the trade offs between security and privacy?
Prepare the entries that are necessary to record independent : Prepare the entries that are necessary to record independent transactions. Crane Company designated Alexa Kidd as petty cash custodian
Explain the components of the social engineering attack : Absolutely, there was no external malefactor; then, which component of the social engineering attack (SEA) is involved in Chief Executive Officer & Disgruntled.
Compute what amount reported as cash and cash equivalents : Debt instrument with a maturity date of three months from the date acquired 11,500. what amount should be reported as cash and cash equivalents?
Compute and interpret cost and sales variances : Compute and interpret cost & sales variances for a range of complex situations and Measure organisational & divisional performance using a range of financial
Determine how was the breach launched : What is one significant data breach through the cloud that has occurred in the field you are interested in? How was this breach launched, what was lost.

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!

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