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1 The entry establishing a $175 petty cash fund would include a:a) debit to cash for $175b) credit to Petty cash for $175c) debit to petty cash for $175d) debit to miscellaneous expense for $175
2 Riley's Limousines' entry to establish a $75 petty cash fund for the office would include a:a) debit to cash for $75b) credit to petty cash for $75c) credit to cash for $75d) debit to office expense for $75
3. Samanth's tutoring service's $200 petty cash fund has a shortage of $4. The facts are: 80 in valid receipts for expenses; $116 in coins and currency. The journal entry to replenish the petty cash fund wouldi nclude a:a) credit to cash for $80b) credit to petty cash for $84c) credit to cash short/over for $4d) debit to cash short/over for $4.
4. a petty cash fun which was established at $50. contains an actual cash count of $20 and valid receipts for $40. The entry to replenish the fund would include a:a) credit to cash for $30b) credit to cahs for $40c) credit to petty cash for $30d) debit to petty cash for $40
5) the bank statement included bank charges. On the bank reconciliation, the item is:a) an addition to the balance per company bookb) an addition to the balance per bank statementc) a deduction from the balance per bank statementd) a deduction from the balance per company books
Q. Which one of the following is not necessary in order for a corporation to pay a cash dividend? a. Adequate cash b. Approval of stockholders c. Declaration of dividends by the bo
Process of ABC Analysis • Classification: On the origin of expected use, the items of inventory are categorized according to their categories and per unit Price of each item
INTER-COMPANY TRANSACTIONS AND BALANCES As the associate company is not consolidated, care should be taken when there are trading transactions and inter-company balances between
a) A company has 7000 obsolete toys carried in inventory at a manufacturing cost of $6 per unit. If the toys are reworked for $2 per unit, they could be sold for $3 per unit. If th
Binary Coded Decimal BCD stands for Binary Coded Decimal. The information given to the computer is stored temporarily before it is processed. Consider a number 827. The bin
what organizations are responsible for governing financial reporting? what is the role of each organiztion? how have the roles changed in the last 20 years? how might their roles c
Can you do the attached quections by Monday?
a. Explain a major factor which led to the introduction of International Financial Reporting Standards (IFRS). b. Explain how users of financial information benefit from IFRS.
Illustration of Admission of a new partner XYZ have been trading as equal partners having capital contributions of £300,000, £250,000 and £200,000 respectively. They agreed
In June 2012 Company has supplied some goods to a customer on a sale on return basis. The value of the goods was Rs. 120,000. The company recorded this transaction as credit sale,
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