Instructions
A. On March 1, Check is issued to establish a petty cash fund of $1,050.
B. On April 1, the amount of cash in the petty cash fund is now $106. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $603; miscellaneous selling expense, $183; miscellaneous administrative expense, $136. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $1,050, record the discrepancy in the cash short and over account.)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Instructions A. On March 1, Check is issued to establish a petty cash fund of $1,050. B. On April 1, the amount of cash in the petty cash ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
On March 8, Black Candy Company bought supplies on account from the Arcade Fire Company for $550. Black Candy Company incorrectly debited Equipment for $500 and credited Accounts Payable for $500. The entries have been posted to the ledger.
Answers (1)
What term is used to describe the interest rate charged by the central bank when it makes loans to commercial banks?
Answers (1)
Financial risks are usually less than $100. a. True b. False
Answers (1)
A document prepared at the time of shipment indicating the description of the merchandise and other relevant data. It is a written contract of the receipt and shipment of goods between the seller and the freight carrier. This document is a: a.
Answers (1)
On September 1, 2017, Banner Co. borrowed $70,000 from the City Bank for five months at 9%. Interest was properly accrued on December 31, 2017. What entry is needed to record the payment of the note and accrued interest on the due date?
Answers (1)
New Questions in Business
In the united states today, what gives money its value?
Answers (2)
An employer has the right to monitor workers electronic communications if
Answers (1)
What is a kind of federal payroll tax A) Medicare tax B) sales tax C) property tax D) progressive tax
Answers (2)
The Rye Corporation has provided the following information: Total sales were $1,240,000. Beginning net accounts receivable was $49,000. Ending net accounts receivable was $63,000. Sales returns and allowances totaled $108,000.
Answers (1)
It's important to know whether you've paraphrased and cited source material for your paper correctly so you avoid plagiarism. Read the original quote below and the two attempts to paraphrase it.
Answers (1)