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Waupaca Company establishes a $310 petty cash fund on September 9. On September 30, the fund shows $43 in cash along with receipts for the following expenditures: transportation costs of merchandise inventory purchased, $47; postage expenses, $78; and miscellaneous expenses, $132. The petty cashier could not account for a $10 shortage in the fund. Waupaca uses the perpetual system in accounting for merchandise inventory.
(1) Prepare the journal entry to establish the Petty Cash fund.
(2.) Prepare the September 30 entry to reimburse the fund.
(3) Prepare an October 1 entry to increase the fund to $385
Schuss Inc. issued $3,000,000 of 10%, 10-year convertible bonds on June 1, 2010, at 98 plus accrued interest. The bonds were dated April 1, 2010, with interest payable April 1 and October 1. Bond discount is amortized semiannually on a straight-li..
polly enterprises manufactures lamps that normally sell for 75 each. there are 300 defective lamps in inventory which
Prepare a 400 word minimum essay discussing how lean versus traditional production might affect a management accountant trying to find out a company''s costs.
During the year Daniel's share of partnership income was $8,500, while he received distributions from the partnership of $4,000. Daniel's partner return on equity is:
what is the amount of payments that must be made at end of each 8 years to accumulate a fund of 90000 by the end of 8th
Research professional standards of the IIA to identify recommendations for the organizaional reporting lines of authority appropriate for an effective internal audit function within an organization.
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Suppose that a person won the Florida lottery and was offered a choice of two prizes: (1) $500,000 or (2) a coin-toss gamble in which he or she would get $1 million if a head were flipped and zero for a tail.
as required to complete course project 1 one must follow the cycle that includes 10 steps to complete the accounting
paige company has completed all of its operating budgets. the sales budget for the year shows 50000 units and total
What is the amount of contract costs incurred during the year ended December 31, 2012?
go to the wall street journal website and view the video titled its payback time the markets are rewarding companies
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