User Account

All Pages

Prepare the september entry to establish the fund

Assignment Help Accounting Basics
Reference no: EM131533590

Question: Hawk Company establishes a $400 petty cash fund on September 9. On September 30, the fund shows $166 in cash along with receipts for the following expenditures: transportation-in, $32; postage expenses, $113; and miscellaneous expenses, $87. The petty cashier could not account for a $2 shortage in the fund. Hawk uses the perpetual system in accounting for merchandise inventory. Prepare

(1) the September 9 entry to establish the fund,

(2) the September 30 entry to reimburse the fund, and

(3) an October 1 entry to decrease the fund to $300.

Reference no: EM131533590

Questions Cloud

Percent of the observations falling : Find the z-score from a standard normal distribution that satisfies each of the following statements.
Establish the fund on january : NetPerks Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $28 in cash along with receipts for the following expenditures.
What should we be wary of in this advertisement : The company has a double-your-money-back guarantee. They claim only 2 percent of their customers were not helped and asked for a refund.
How new patterns of interaction resulting from urbanization : How new patterns of interaction resulting from urbanization,mass media, & internet connectivity,change our perceptions of both ourselves & our social world.
Prepare the september entry to establish the fund : Hawk Company establishes a $400 petty cash fund on September 9. On September 30, the fund shows $166 in cash along with receipts for the following expenditures.
Estimate the proportion of students : Determine the necessary sample size to estimate the proportion of students, p, who consume alcohol 3 or more times per week with a bound.
Suggest innovative technique that could revolutionize health : Consider the way that health care is marketed today and suggest at least one innovative technique that could revolutionize health care marketing in the future.
Explains the phase in the technology life cycle : Explains the phase in the technology life cycle and the ideal timing for adopting that technology
Calculate its days sales uncollected at the end of each year : Deacon Co. reported annual net sales for 2010 and 2011 of $565,000 and $647,000, respectively. Its yearend balances of accounts receivable follow.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare the statement of cash flows

In order to prepare the statement of cash flows for Building Blocks Corporation for 2006, the accountant has compiled the following data regarding cash flows:

  The company uses the effective interest method

The company uses the effective interest method to account for this debt.

  Prepare an income statement an owners equity statement and

prepare an income statement an owners equity statement and a balance sheet for the accupuncture practice of bi loi from

  What is an advantage of using multiple-step income statement

What is an advantage of using the multiple-step income statement? Which one of the following is not an objective of a system of internal controls?

  Yimron corporation uses the weighted-average method in its

yimron corporation uses the weighted-average method in its process costing system. information for the month of march

  Harris fabrics computes its predetermined overhead rate

harris fabrics computes its predetermined overhead rate annually on the basis of direct labor hours. at the beginning

  Clem company issued 990000 10-year 4 percent bonds on

clem company issued 990000 10-year 4 percent bonds on january 1 2012. the bonds sold for 940000. interest is payable

  Learning experience and application of knowledge

Assume you have the power to make reforms to the way tax research and planning is currently conducted. Propose the reforms you would make. Justify your response.

  Rooney company uses a flexible budget for manufacturing

rooney company uses a flexible budget for manufacturing overhead based on direct labor hours. variable manufacturing

  Jacques company planned to use 18000 pounds of materials

jacques company planned to use 18000 pounds of materials costing 2.50 per pound to make 4000 units of its products. in

  Identify ethical issues conflicts of interest and

identify ethical issues conflicts of interest and noncompliance with corporate policies and procedures in the enron

  What are the consolidated sales and cost of goods sold

Top company holds 90% of Bottom Company's common stock. In current year, Top reports sales of $800,000 and Cost of Goods sold of $600,000. For this sam period,

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