What is the amount of replenishment under the imprest fund

Assignment Help Accounting Basics
Reference no: EM133080622

Question - On August 1, 2018, Samson Company established an imprest petty cash fund for P15,000 by writing a check drawn against its general checking account. On August 23, the fund contained the following:

Currency and coins P500

Receipts for office supplies 7,000

Vouchers for advances to company drivers 4,000

Receipts for transportation 1,500

Receipt for notary fee 1,200

Receipts for postage still unused 300

Required - On August 24, the company wrote a check to replenish the fund. What is the amount of replenishment under the imprest fund system?

Reference no: EM133080622

Questions Cloud

What is the required return for JJM : Jersey Jewel Mining has a beta coefficient of 1.4. JJM pays a $2.50 dividend that is growing at 4 percent annually. What is the required return for JJM
Difference between training and career development : What is the difference between training and career development? Of these two concepts, which is more likely to increase retention in an organization? Why?
Should the government use the cryptocurrencies : 1. Should the government use the cryptocurrencies (e.g. Bitcoin, Ethereum, etc.) to replace current money?
Explain how the website is constructed : Explain how the website is constructed (its organization, types of information, free versus paid information, statistical outputs).
What is the amount of replenishment under the imprest fund : On August 24, the company wrote a check to replenish the fund. What is the amount of replenishment under the imprest fund system
Draw a state transit diagram for requirement status : Draw a state transit diagram for requirement status. What are the possible requirement statuses? What triggers it to transit from one state to another
Violation of the law of demand : In December, the price of "apple" rises and the number of "apple" sold also rises. Is this a violation of the law of demand? Justify
What is the competitive advantage of zara : What are the internal capabilities supporting the competitive advantages you have identified for each brand? Can these capabilities be easily imitated?
Implementing portfolio management practices : What are the keys to successful project portfolio management? What are some of the key difficulties in successfully implementing portfolio management practices?

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.

  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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd