Waupaca Company establishes a $410 petty cash fund on September 9. On September 30, the fund shows $134 in cash along with receipts for the following expenditures: transportation-in, $60; postage expenses, $70; and miscellaneous expenses, $135. The petty cashier could not account for a $11 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 $485.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Waupaca Company establishes a $410 petty cash fund on September 9. On September 30, the fund shows $134 in cash along with receipts for the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The crowding-out effect suggests that:
A. Increases in consumption are always at the expense of saving
B. Increases in government spending will close a recessionary expenditure gap
C.
Answers (1)
Below are trends in operating cash flows for three companies. based on an analysis of operating risk, which company's management is likely motivated to have the largest ratio of cash to noncash company 1 company 2 company 3 assets?
Answers (1)
Orie and Jane, husband and wife, operate a sole proprietorship. They expect their taxable income next year to be $450,000, of which $250,000 is attributed to the sole proprietorship.
Answers (1)
Which of the following accounting strategies (for financial reporting purposes) is the least likely for a firm that is currently only marginally fulfilling the quantitative measures (all involving earnings) of its debt covenants?
Answers (1)
How come my solitaire on my phone has a different vegas scoring system than on my computer?
Answers (1)
New Questions in Business
ABC Company insured its building on a replacement cost basis for $700,000 under a property insurance policy that included an 80 percent coinsurance clause. The building had a replacement cost of $1 million when it sustained a $40,000 loss.
Answers (1)
Which of the following are true? Select one or more: (a) The t-distribution is dependent on the sample size. (b) The t-distribution does not depend on the sample size.
Answers (1)
Santoyo Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Hours Wait time 13.6 Process time 2.7 Inspection time 0.3 Move time 3.3 Queue time 7.0 The delivery cycle time was:
Answers (1)
During 2021, its first year of operations, Pave Construction provides services on account of $160,000. By the end of 2021, cash collections on these accounts total $110,000. Pave estimates that 25% of the uncollected accounts will be uncollectible.
Answers (1)
How often is interest earned from bonds usually paid to the bond holder? 1) Every month 2) Once per year 3) Twice per year 4) Every two years
Answers (1)