What amount should be debited to Cash short or over

Assignment Help Accounting Basics
Reference no: EM132624974

Question - Brown Co. established a P3,000 petty cash fund. You found the following items in the fund:

Cash and currency P1.683.80

Expense vouchers 829.80

Advances to salesman 200.00

IOU from employee 300.00

Required - In the entry to replenish the fund, what amount should be debited to Cash short or over?

Reference no: EM132624974

Questions Cloud

Should the company choose the lease or the royalty plan : Emerald, Inc, Under the royalty plan determine the sales in kilograms that would be required to produce net operating income of $90,000.
Holistic and value-based approach to self development : How would you develop a holistic and value-based approach to self development?
Outline the main factors that would determine your reliance : Outline the main factors that would determine your reliance on the client's internal audit function ie the extent to which the internal work is adequate
Determine how much should the company be willing to pay : Pearl, Inc. produces three products. How much should the company be willing to pay for an additional hour of milling machine time?
What amount should be debited to Cash short or over : Question - Brown Co. established a P3,000 petty cash fund. In the entry to replenish the fund, what amount should be debited to Cash short or over
Why a project manager for an ex-student association : What are some of the reasons why a project manager for an ex-student Association should ask members to pay a registration fee?
Conceptual frameworks for study of health policy and law : Framework one consists of three broad topical domains-health care policy and law, bioethics, and public health policy and law.
Identify a phenomenon of us culture today : Can you please identify a phenomenon of U.S. culture today that may seem strange when viewed from an outsider's perspective.
Compute simple rate of return and internal rate of return : Compute the Simple rate of return, Net present value and Internal rate of return. Should the company purchase the machine? Why or why not?

Reviews

Write a Review

Accounting Basics Questions & Answers

  A friend of yours is a biotech scientist who is developing

a friend of yours is a biotech scientist who is developing a method of cloning certain antibodies. you have estimated

  At what amount sarasota report land on its balance sheet

The land is worth $1,200,000. At what amount should Sarasota report the land on its balance sheet at December 31, 2013

  What would insurance expense

On December 31, 2012, Company V had a balance in its prepaid insurance account of $48,400. What would Insurance expense for 2013 be

  Determine the correct retained earnings balance

Determine the correct retained earnings balance at the end of 2014 using any relevant information above.

  What is the minimum transfer price

Jason Inc. has a division that manufactures a widget that sells for $300 and has a variable cost of $90. What is the minimum transfer price

  Compute anticipated net income per year

Assume a 60% fl at rate for income taxes. The company receives all revenues and pays all expenses other than depreciation in cash. Use a 14% discount rate.

  Calculate the maintenance cost

Calculate the maintenance cost that would be budgeted for the month of May in which 5,700 machine hours are planned to be used

  Prepare a bond amortization schedule

Entries for Held-to-Maturity Securities on January 1, 2009, Roosevelt Company purchased 12% bonds, having a maturity value of $500,000, for $537,907.40. The bonds provide the bondholders with a 10% yield.

  What is the basic objective of financial reporting

What is the basic objective of financial reporting. How do general purpose financial statements help achieve this objective

  Refer to polaris''s financial statements

Refer to Polaris's financial statements in Appendix A to answer the following.

  Record the capital projects fund transactions

Open a general journal for the City Jail Annex Construction Fund. Record the Capital Projects Fund transactions and post to the general ledger

  Prepare a statement of cash flows in good form

Only July 17th, 3 acres of land were sold for cash of $32,000. Prepare Statement of Cash Flows in good form using the above information and the indirect method

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