User Account

All Pages

Prepare the september entry to establish the fund

Assignment Help Financial Accounting
Reference no: EM133032103

Question - Waupaca Company establishes a $370 petty cash fund on September 9. On September 30, the fund shows $118 in cash along with receipts for the following expenditures: transportation costs of merchandise purchased, $43; postage expenses, $63; and miscellaneous expenses, $133. The petty cashier could not account for a $13 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory.

Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $440.

Reference no: EM133032103

Questions Cloud

What is one share of this stock worth to you : Beginning 5 years from now, the dividend is expected to increase by 4.0 percent annually. What is one share of this stock worth to you
Prepare the appropriate entries for both Western Soya Co : Prepare the appropriate entries for both Western Soya Co. and Rhone-Metro on December 31, 2021. Show how Rhone-Metro calculated $156,000 annual lease payments
Calculate minimum net business income carol would include : Calculate the minimum net business income Carol would include in her 2020 personal income tax return. In preparing your solution, ignore GST and PST implication
What is the equivalent annual cost : A projected present value break-even point of 13,601.20 units. The tax rate is 34 percent and discount rate is 13 percent. What is the equivalent annual cost
Prepare the september entry to establish the fund : Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase fund to $440
How many units transferred to next processing department : An additional units 472,000 were transferred in from the prior department. How many units transferred to next processing department
Research on ias 40 - investment property : Research on IAS 40: Investment Property - concept map has been added for your benefit, and highlights the most important elements of the research process
Pay discrimination in your organization : What do surveys have to do with pay discrimination? Do you feel like there is pay discrimination in your organization?
How have they improved patient satisfaction : How do these factors relate to quality? How have they improved patient satisfaction?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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