User Account

All Pages

Prepare the journal entries to record transactions

Assignment Help Accounting Basics
Reference no: EM131717767

Question - Oriole, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April.

1. On April 1, it established a petty cash fund in the amount of $253.

2. A summary of the petty cash expenditures made by the petty cash custodian as of April 10 is as follows.

Delivery charges paid on merchandise purchased $74
Supplies purchased and used 39
Postage expense 47
I.O.U. from employees 31
Miscellaneous expense 50

The petty cash fund was replenished on April 10. The balance in the fund was $8.

3. The petty cash fund balance was increased by $114 to $367 on April 20.

Prepare the journal entries to record transactions related to petty cash for the month of April.

Reference no: EM131717767

Questions Cloud

Define a good starting point for the discussion is hazing : A good starting point for the discussion is hazing. Begin with the controversial 2003 Glenbrook North High School hazing incident
Which company has the strongest net income : Which company has the strongest net income? Which company has the strongest solvency? Which company is most profitable?
What is the sampling distribution of p : a. What are the H0 and H1? What is the test statistic? b. What is the sampling distribution of p?
What will be the approximate percent change in bond price : A bond currently sells for $950 based on a par value of $1,000 and promises $100 in interest for three years before being retired.
Prepare the journal entries to record transactions : On April 1, it established a petty cash fund in the amount of $253. Prepare journal entries to record transactions related to petty cash for the month of April
What is the probability that you would be able to perform : What is the probability that you would be able to perform like this or worse again?
Define positive competency beliefs and values : empirical research article from a peer-reviewed psychology journal that relates to the Donald Trump
Explain the role of lobbying and campaigning in social work : Discussion: The Social Work Advocate in Politics. Post an explanation of the role of lobbying and campaigning in social work practice.
National unemployment rate : Do these data provide sufficient evidence at the 0.01 significance to conclude that the unemployment rate in Boston was less than the national unemployment rate

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.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  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!

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