User Account

All Pages

What is the purpose of a petty cash fund

Assignment Help Accounting Basics
Reference no: EM132063805

Question -

1) Why does a corporation require common shares and a sole proprietorship does not? Explain fully and provide an example to illustrate your explanation.

2) What is the purpose of a petty cash fund? How does it operate? What types of controls should be in place to safeguard these funds?

3) A company incurred a net loss of $250,000. Does that mean the business lost $250,000 of cash? Explain.

4) What are adjustments, when are they journalized, and why? What principals or characteristics are involved?

Reference no: EM132063805

Questions Cloud

What total asset turnover would be needed : In the year 20X4, a company had a net profit margin of 18%, total asset turnover of 1.75, and a financial leverage multiplier of 1.5.
How many disulfides does the native protein contain : Ten moles of carboxymethyl groups are now found to be bound per mole of protein. How many disulfides does the native protein contain?
Differential salt precipitation in protein purification : 1. What are the principles and the purpose of using differential salt precipitation in protein purification?
Prepare summary cash budget in following table : Assist ABC by building a model to forecast cash flow. Set up your model for the first quarter of 2015.
What is the purpose of a petty cash fund : What is the purpose of a petty cash fund? How does it operate? What types of controls should be in place to safeguard these funds
Tangshans book value per share of common stock is a : At year end, Tangshan China Company balance sheet showed total assets of $60 million, total liabilities (including preferred stock) of $45 million.
Create a breakeven chart for jay company : Create a breakeven chart for Jay Company based on unit increments of 250 and the revised fixed costs of $367,800.
At what constant growth rate would the company just break : At what constant growth rate would the company just break even if it still required a return of 11 percent on investment?
Calculate the belyk paving cos operating cash flow : In addition, the company had an interest expense of $216,900 and a tax rate of 40 percent. (Ignore any tax loss carryback or carryforward provisions.)

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: +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