User Account

All Pages

What journal entry should be recorded to replenish the fund

Assignment Help Accounting Basics
Reference no: EM131785148

Problem

The last custodian of the petty cash fund was hospitalized and you have been asked to take stock of the fund and replenish it. When you receive the fund, it has $299 in cash and receipts as follows:

Office supplies                   $295

Advertising                       120

Transportation by Taxi       75

The petty cash fund was established to have $800 in it.

Based on what you have found, what journal entry should be recorded to replenish the fund?

Reference no: EM131785148

Questions Cloud

Developing the strategic knowledge base in organization : Critically discuss the above statement in relation to effectively developing the strategic knowledge base in YOUR organization.
What is its intrinsic stock price per share : Suppose instead that SSC has just made a $50 million distribution in form of a stock repurchase. What is its intrinsic stock price per share after repurchase
Identify two of the strategies identified in the book : Identify two of the strategies identified in the book and develop critical thinking questions you would ask yourself as part of your self-assessment.
Write an overall conceptual analysis : Write an overall conceptual analysis about all the expected profits in all the cases above?
What journal entry should be recorded to replenish the fund : The last custodian of the petty cash fund was hospitalized. Based on what you have found, what journal entry should be recorded to replenish the fund?
What recommendations can be made for the upcoming year : What recommendations can be made for the upcoming year in budgeting to the CFO for additional profitability and increasing revenue
What is the minimum amount of the detrimental substance : Dieting A dieting company offers three foods, A, B, and C, and groups its customers into two groups according to their nutritional needs.
Sapu land would contravene the companies act 2016 : Advise the board of FGH Sdn Bhd whether the proposed purchase of Sapu's land would contravene the Companies Act 2016.
Target order to maximize his expected profit : How many units of Xbox one S should Target order to maximize his expected profit?

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