The petty cahs fund is $800 On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenace Expense $168, Miscellaneous Expense $149. the cash on hand at this time is $48. What is the correct journal entry.
Q: In May, assets with a carrying value of P170,000 were sold for P145,000, The statement of financial ...
A: Hi student Since there are multiple questions, we will answer only first question. If you want remai...
Q: Really need help with this please and thank you. Wolford Department Store is located in midtown Me...
A: The income statement is prepared to record the revenues and expenses of the current period.
Q: 1. Use the following information for the next five questions:On January 1, 2021, ABC Co. acquired al...
A:
Q: On December 31,2021 the end of the fiscal year, Califonia Mircotech Corporation completed the sale o...
A: Net profit is calculated by deducting the expenses from the revenues of the company.
Q: 1. What is a compensating balance?
A: Hi student Since there are multiple questions, we will answer only first question.
Q: rs are the allocation base. Carter is considering switching to an ABC system by splitting its manufa...
A: A.The indirect manufacturing costs assigned to Product A under the traditional costing system =1,00,...
Q: Comparative financial statement data for Oriole Corporation and Pharoah Corporation, two competitors...
A: Net income refers to the earnings of the company after accounting for all the operating and non-oper...
Q: Which of the following is not added to net income as an adjustment to reconcile net income to cash f...
A: Cash flows from operating activities is one of the important section of cash flows statement which s...
Q: Consider the unadjusted trial balance of Riverdale Company at June 30, 2016, and the related month-e...
A: The adjustment entries are prepared at year end and adjusted trial balance is formed at last to prep...
Q: Treno Ltd panning to establish an additional plant for expanding its operations in the country for t...
A: Mumbai Delhi Sales (11,000 units X 800 per unit) 88,00,000 88,00,000 Less: ...
Q: The following amortization and interest schedule reflects the issuance of 10-year bonds by Cullumber...
A: Bonds Payable - Bonds is an promissory notes that the issuer paid along with interest on maturity.
Q: What is the taxable income of Mr. Pamplona subject to regular income tax?
A: Tax is the amount which the taxpayer has to pay on the taxable income and which is determined as per...
Q: Ryan Company's income statement for the year ended December 31, 2015, reported net income of P360,00...
A: Cash flows from operating activities: It is a section of Statement of cash flow that explains the so...
Q: March 1 Brooks invested $195,000 cash along with $24,000 in office equipment in the company. March 2...
A: 1. Date General Journal Debit Credit Mar 01 Cash 195,000 Office equipment ...
Q: d. income 18. The source for preparing the schedule of accounts payable is the a. purchase invoices....
A: 18. A schedule of accounts payable constitutes the balance owed by the entity to various suppliers ...
Q: On quesiton C: Johnson’s borrowed $282,000 at a(n) 9 percent annual interest rate on April 1 of the...
A: Adjusting entries are those journal entries which are passed at the end of accounting period in orde...
Q: if the value implied by the purchase price of an acquired company exceeds the fair values of the ide...
A: Acquisition refers to purchase of a company by another company by paying purchase consideration in e...
Q: You are provided with the following information for Ivanhoe Company, effective as of its April 30, 2...
A: The order of liquidity of Asset is: Cash Bank Marketable Securities Short term Investment Account R...
Q: Simon Company's year-end balance sheets follow. At December 31 2017 2016 2015 Assets $ 25,796 $ 30,1...
A: Days Sales Uncollected: The days' sales uncollected ratio is a liquidity measure that creditors and ...
Q: If you become aware of a breach or violation, you should
A: Breach or violation of the terms and conditions by the employee is a commit of fraud or revealing th...
Q: On August 22, 20X1, an employee of Bell Company mistakenly debited the Truck Expense account rather ...
A: Errors are unintentional mistakes this is due to oversight or wrong totalling or posting entry in wr...
Q: Age of Customer Debt Amounts owed Estimate of % that (including GST) will not be collected. 1-30 day...
A: Answer a Journal Entry Account Titles and Explanations Debit Credit Bad Debts Expense...
Q: Give examples of differences in corporate governance in different countries ( Continental Europe &am...
A: A set of rules, policies, regulations, processes, and practices used to control, regulate, and direc...
Q: Choy, ufter recelving her degree in Hotel and Restaurant Management began her own business called Ch...
A: Accounting equation of the business says that total assets must be equal to total liabilities and eq...
Q: What did Dennis Kozlowski of Tyco do that was so unethical or illegal in the world of business and a...
A: The answer for the question on unethical or illegal doings of Dennis Kozlowski of Tyco is discussed ...
Q: Give me one example of Earnings Management. Please help me !!!
A: Earnings management refers to a company technique of deliberately use of accounting techniques to pr...
Q: purchase price. It costs the Book Shop $500 to place a single order. The maximum sale for the Book S...
A:
Q: 6. ABC and XYZ Inc had the following balance sheets on December 31, 2021: (see image below) On Janua...
A: When a company acquires all the shares of another company, all the assets and liabilities of the tra...
Q: Financial Accounting I QUESTION TWO The John trading company has undertaken the following transac...
A: The cash book with three column is prepared to record the cash, bank and discount at one olace.
Q: REQUIRED 1. Prepare the January 1 journal entry on Son's books to record push-down values. 2. Prepar...
A: Push-down accounting refers to an accounting method which is used by the company while purchasing an...
Q: How much is the patient services revenue? How much is the operating revenue? How much is the total n...
A: Patient revenue services includes charges for direct patient care such as doctor's fees,room charges...
Q: XYZ Co had the following accounts at the time it was acquired by ABC Inc (see image below). ABC paid...
A: Cost of acquisition is a concept that includes all the costs at the time of purchase. It is net pric...
Q: 1. Journal Entries 2. Cost of Production Report for Department 1 and 2 for the month of June 2021 3....
A: The question provides us with the data of units and the costs incurred under various elements in bot...
Q: Explain and provide two examples of quick assets.
A: Quick assets are those assets which can be converted into cash easily or they are already in a cash ...
Q: 3. Pagadian, Inc. reported the following during the year: P400,000 proceeds of life insurance of an ...
A: In case of accrual basis of accounting we should recognise revenue and expenses as and when earned a...
Q: Bari Jay, a gown manufacturer, received an order for prom dresses from China. Her cost is $33 a gown...
A: Selling price = Cost/(1- Markup)
Q: Lola Girl brought her granddaughter to Jollibee for a treat. Her granddaughter requested that they b...
A: The VAT is equivalent to a uniform rate of 12%, based on the gross selling price of goods or propert...
Q: Mo Burrow owns a 25% interest in Bengal LLC. On December 31, 2021, Mo Burrow's basis in the LLC is $...
A: a) Mo Burrow's basis in the LLC is $40,000 LLC distributes $25,000 in cash parcel of land $30000 LL...
Q: Indicate the financial statement on which each of the following items appears: income statement, sta...
A: >Accounts are shown as Revenue, Expense, Assets, Liabilities or Equity account based on their nat...
Q: Lolitas Factpry produced 3 kinds of bubbe soap products with the following cost information: ...
A: The break-even point is the situation where the company does not incur a loss and also it does not e...
Q: On June 30, 2012, Marigold Company issued 12% bonds with a par value of $840,000 due in 20 years. Th...
A: To begin, keeping accurate records of your transactions helps to organize the data in your business....
Q: QUESTION THREE MDAR Retailer Trial Balance as at 31 December 2011 Dr. Cr. $ $ Discount ...
A: Income statement is one of the financial statement which shows all incomes and all expenses of the b...
Q: Why do you think ethics is so important in accounting and business in general
A: Ethics in Accounting and business mean a set of specific guidelines or code of conduct which are bel...
Q: The bank reconciliation shows the following adjustments. Deposits in transit: $1,698 Notes receivab...
A: Solution: bank reconciliation is prepared to reconcile the balance of cash as per bank statement and...
Q: MULTIPLE CHOICE 1. The entries in a purchases journal are posted to which of the following subsidiar...
A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If yo...
Q: Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Mo...
A: The equivalent units are calculated on the basis of percentage of the work completed during the peri...
Q: On January 1, 2019, an entity purchased 15,000 shares of another entity representing a 12% interest ...
A: Profit and loss Account In the profit and loss account which includes all type of revenues and expen...
Q: Shari exchanges an office building in New Orleans (adjusted basis of $500,000) for an office buildin...
A: Realized gain = value of office building in Baton Rouge - value of office building in Orleans =$9000...
Q: Johnson Corporation acquired all of the outstanding common stock of Smith Corporation for $12,200,00...
A: Goodwill is the amount of excess of consideration paid over the fair value of net assets of the acqu...
Q: S11-3 Accounting for warranty expense and warranty payable Toyota, the car manufacturer, guarantees ...
A: Given information Sales = $500,000 Percentage of cash sales = 30% Remaining sales are credit sales...
The petty cahs fund is $800
On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenace Expense $168, Miscellaneous Expense $149. the cash on hand at this time is $48. What is the correct
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $80. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment as it was month-end. The following are the receipts: Auto Expense $114, Supplies $75, Postage Expense $50, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.On June 1 French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions: A. On June 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $220. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $20. D. On June 29, the company determined that the petty cash fund needed to be increased to $1,000. E. On June 30, the petty cash fund needed replenishment, as it was month end. The following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $437.On July 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: A. On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B. On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $110. C. On June 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be decreased to $1,000. E. On June 30, the petty cash fund needed replenishment, as it was month end. The following are the receipts: Auto Expense $14, Supplies $75, Postage Expense $150, Repairs and Maintenance Expense $121, Miscellaneous Expense $39. The cash on hand at this time was $603.
- On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $210. What is the correct journal entry?On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries using this information for the following transactions for questions 1-5. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48. What is the correct journal entry?On September 1, French company has decided to initiate a petty cash fund in the amount of $800. Prepare journal entries for the following transactions:A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $48.B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $18, Supplies $175, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $59. The cash on hand at this time was $210.C. On September 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $20.D. On September 29, the company determined that the petty cash fund needed to be…
- 2., On November 30, XYZ, Inc.'s petty cash fund of $150 is replenished. The fund contains cash of $30, and receipts for supplies of $75 and postage of $45. Prepare the journal entry to record the replenishment of the petty cash fund.In May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transaction: On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand currently was $38.7. On May 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions. A. On July 5, the petty cash fund needed replenishment, and the following are the receipts Auto Expense S125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. B On June 14, the petty cash fund needed replenishment, and the following are the receipts. Auto Expense $425, Supplies S95, Postage Expense $240, Repairs and Maintenance Expense S299, Miscellaneous Expense $77. The cash on handd at this time was $80. C. On June 23, the petty cash fund needed replenishment, and the following are the receipts. Auto Expense S251, Supplies $188, Postage Expense $263, Repairs and Maintenance Expense S182, Miscellaneous Expense S203. The cash on hand at this time was $93. D. On June 29, the company determined that the petty cash fund needed to be deereased to…
- On September 1, ATP Enterprises has decided to initiate a petty cash fund in the amount of $900. Prepare journal entries for the following transactions: A. On September 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $37, Supplies $124, Postage Expense $270, Repairs and Maintenance Expense $168, Miscellaneous Expense $149. The cash on hand at this time was $148. B. On September 14, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $18, Supplies $185, Postage Expense $50, Repairs and Maintenance Expense $269, Miscellaneous Expense $49. The cash on hand at this time was $310. C. On September 23, the petty cash fund needed replenishment and the following are the receipts: Auto Expense $251, Supplies $88, Postage Expense $63, Repairs and Maintenance Expense $182, Miscellaneous Expense $203. The cash on hand at this time was $120. D. On September 29, the company determined that the petty cash fund…Prepare journal entries for the following transactions, using the accounts in the order listed: PLEASE NOTE: For similar accounting treatment (DR or CR), you are to record accounts in the order in which they are mentioned in the transactions. On June 1, Kellie Company had decided to initiate a petty cash fund in the amount of $1,200. DR CR On June 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99, Miscellaneous Expense $259. The cash on hand at this time was $38. DR DR DR DR DR DR or CR? CR On June 14, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $425, Supplies $95, Postage Expense $240, Repairs and Maintenance Expense $299, Miscellaneous Expense $77. The cash on hand at this time was $80. DR DR DR DR DR DR or CR?…A petty cash fund was originally established with a cheque for $150. On December 31, you find the following items in the petty cash fund: Postage Office supplies $43.50 51.85 Office equipment repair Cash 49.00 4.25 Prepare the general journal entry to record the replenishment of the petty cash fund on December 31. Short Answer Toolbar navigation