Homework Answers
| (b) | Recording of replenishment | ||
| Date | Account Titles and Explanation | Debit | Credit |
| Oct 1 | Supplies | $ 75 | |
| Postage Expense | $ 45 | ||
| To Cash | $ 120 | ||
| (Being Recording of replenishment) | |||
| (c) | Bad debt expense for the period | ||
| Account recivable un collectable | $ 14,000 | ||
| Less | Bad Debt allowance balance | $ 1,100 | |
| Bad Debt Expense for the period | $ 12,900 |
Add Answer to:
please as fast as you can
6. On October 1. Head and Heart Company's petty cash...
4. (15 Points). Feathers Co. established a petty cash fund of $150 on October 1. On...
4. (15 Points). Feathers Co. established a petty cash fund of $150 on October 1. On October 10 the petty cash fund was replenished when there was $49 remaining and there were petty cash receipts for: office supplies, $47; transportation-in on inventory purchased, $32; and postage, 522. On October 15, the petty cash fund was decreased to $125 in total. Record the above transactions in general journal form. Date Debit Credit
please help with these accounting problems! all questions please and thank you! 6. An aging of...
please help with these accounting problems! all questions
please and thank you!
6. An aging of a company's accounts receivable indicates that $9,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $2,400 credit balance, the adjustment to record bad debts for the period will require a A) debit to Bad Debt Expense for $9,000. B) debit to Allowance for Doubtful Accounts for $6,600. C) debit to Bad Debt Expense for $6,600. D) credit to Allowance for...
A 1 1 H K 2 CHANGE FUND & PETTY CASH JOURNAL ENTRIES 4 a Established a petty cash fund of $400 Replenished the p...
A 1 1 H K 2 CHANGE FUND & PETTY CASH JOURNAL ENTRIES 4 a Established a petty cash fund of $400 Replenished the petty cash fund based on the following disbursements as indicated by a summary of the petty cash receipts office supplies b. expense, $24.50, miscellaneous administrative expense, $33.75, miscellaneous selling expense, $ 31.60 5 6 C. Increased the petty cash fund by $100 to a balance of $500. 7 8 10 JOURNAL ENTRIES Accounts DR CR 11...
Please explain your answer. Thank you! Learning Objective 4 P7-26A Accounting for petty cash transactions Suppose...
Please explain your answer. Thank you!
Learning Objective 4 P7-26A Accounting for petty cash transactions Suppose that on June 1, Rockin' Gyrations, a disc jockey service, creates a petty cash fund with an imprest balance of $300. During June, Michael Martell, fund custodian, signs the following petty cash tickets: 2. June 30, Cash CR $160 Petty Cash Ticket Number Item Amount Postage for package received Office party Two boxes of stationery Printer cartridges Business dinner On June 30, prior to...
View Polides Current Attempt in Progress -/1 Blossom Company maintains a petty cash fund for small...
View Polides Current Attempt in Progress -/1 Blossom Company maintains a petty cash fund for small penditures. The following transactions occurred over a two month period: Feb. 1 Feb 15 Feb. 28 Established petty cash fund by writing a cheque on Algonquin Bank for $200.00. Replenished the petty cash fund by writing a cheque for $195.00. On this date the fund consisted of $500 in cash and the following petty cash receipts: Freight out $82.00 Postage expense 72.90 Entertainment expense...
Accounting (ans fast plz) Wer letter in the space provided below, Use capital letters A, B,...
Accounting (ans fast plz)
Wer letter in the space provided below, Use capital letters A, B, C or D Question1 2 3 Answer (1) If a petty cash fund is established in the amount of $200, and contains cash and $85 in receipts for disbursements when it is replenished, the journal entr to record reimbursement should include the following accounts A. Petty Cash $85 credit. B. Petty Cash, $80 credit C. Cash $80 credit and Cash Over and Short $5...
Question 1 August 1, 2019, Magic Cleaning Incorporated established a petty fund of $200. By the...
Question 1 August 1, 2019, Magic Cleaning Incorporated established a petty fund of $200. By the end of August there was $7 cash on hand and the fund contained the following petty cash tickets: • Delivery, $64.00 • Freight, $45.00 Supplies, $15.00 • Postage, $6.00 • Catering, $55.00 . Required Prepare the journal entries in the template below to record the establishment and replenishment of the petty cash fund. Explanations are not required. DATE ACCOUNT DEBIT CREDIT Question 2 The...
1). An aging of Calypso Company's accounts receivable indicates that $40,000 is estimated to be uncollectible....
1). An aging of Calypso Company's accounts receivable indicates that $40,000 is estimated to be uncollectible. If Allowance for Doubtful Accounts has a $6,000 credit balance, the adjustment to record bad debts for the period will require a: A) Debit to Bad Debts Expense for $34,000 B) Debit to Allowance for Doubtful Accounts for $34,000 C) Debit to Bad Debts Expense for $40,000 D) Credit to Allowance for Doubtful Accounts for $40,000 2) After completing a bank reconciliation, you are...
ACC 106 Handout 7: Petty Cash and bank reconciliation Exercise 1: Salle-Peru Co. uses an imprest...
ACC 106 Handout 7: Petty Cash and bank reconciliation Exercise 1: Salle-Peru Co. uses an imprest petty cash system. The fund was established on March 1 with a balance of $150. During March the following petty cash receipts were found in the petty cash box Date Receipt No. For Amount 5/3 Stamp Inventory Freight-out exp. Miscellaneous exp. Travel exp. Miscellaneous exp. The fund was replenished on March 15 when the fund contained $5 cash. Instructions Journalize the entries in March...
Can someone help me fix the cells I missed in these two ledgers? Required: 1. Prepare...
Can someone help me fix the
cells I missed in these two ledgers?
Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions. a. Bad debts are estimated to be 3% of credit sales. b. Bad debts are estimated to be 2% of total sales. c. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31, 2017). General Journal Credit No 1...
4. (15 Points). Feathers Co. established a petty cash fund of $150 on October 1. On October 10 the petty cash fund was replenished when there was $49 remaining and there were petty cash receipts for: office supplies, $47; transportation-in on inventory purchased, $32; and postage, 522. On October 15, the petty cash fund was decreased to $125 in total. Record the above transactions in general journal form. Date Debit Credit
please help with these accounting problems! all questions
please and thank you!
6. An aging of a company's accounts receivable indicates that $9,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $2,400 credit balance, the adjustment to record bad debts for the period will require a A) debit to Bad Debt Expense for $9,000. B) debit to Allowance for Doubtful Accounts for $6,600. C) debit to Bad Debt Expense for $6,600. D) credit to Allowance for...
A 1 1 H K 2 CHANGE FUND & PETTY CASH JOURNAL ENTRIES 4 a Established a petty cash fund of $400 Replenished the petty cash fund based on the following disbursements as indicated by a summary of the petty cash receipts office supplies b. expense, $24.50, miscellaneous administrative expense, $33.75, miscellaneous selling expense, $ 31.60 5 6 C. Increased the petty cash fund by $100 to a balance of $500. 7 8 10 JOURNAL ENTRIES Accounts DR CR 11...
Please explain your answer. Thank you!
Learning Objective 4 P7-26A Accounting for petty cash transactions Suppose that on June 1, Rockin' Gyrations, a disc jockey service, creates a petty cash fund with an imprest balance of $300. During June, Michael Martell, fund custodian, signs the following petty cash tickets: 2. June 30, Cash CR $160 Petty Cash Ticket Number Item Amount Postage for package received Office party Two boxes of stationery Printer cartridges Business dinner On June 30, prior to...
View Polides Current Attempt in Progress -/1 Blossom Company maintains a petty cash fund for small penditures. The following transactions occurred over a two month period: Feb. 1 Feb 15 Feb. 28 Established petty cash fund by writing a cheque on Algonquin Bank for $200.00. Replenished the petty cash fund by writing a cheque for $195.00. On this date the fund consisted of $500 in cash and the following petty cash receipts: Freight out $82.00 Postage expense 72.90 Entertainment expense...
Accounting (ans fast plz)
Wer letter in the space provided below, Use capital letters A, B, C or D Question1 2 3 Answer (1) If a petty cash fund is established in the amount of $200, and contains cash and $85 in receipts for disbursements when it is replenished, the journal entr to record reimbursement should include the following accounts A. Petty Cash $85 credit. B. Petty Cash, $80 credit C. Cash $80 credit and Cash Over and Short $5...
Question 1 August 1, 2019, Magic Cleaning Incorporated established a petty fund of $200. By the end of August there was $7 cash on hand and the fund contained the following petty cash tickets: • Delivery, $64.00 • Freight, $45.00 Supplies, $15.00 • Postage, $6.00 • Catering, $55.00 . Required Prepare the journal entries in the template below to record the establishment and replenishment of the petty cash fund. Explanations are not required. DATE ACCOUNT DEBIT CREDIT Question 2 The...
ACC 106 Handout 7: Petty Cash and bank reconciliation Exercise 1: Salle-Peru Co. uses an imprest petty cash system. The fund was established on March 1 with a balance of $150. During March the following petty cash receipts were found in the petty cash box Date Receipt No. For Amount 5/3 Stamp Inventory Freight-out exp. Miscellaneous exp. Travel exp. Miscellaneous exp. The fund was replenished on March 15 when the fund contained $5 cash. Instructions Journalize the entries in March...
Can someone help me fix the
cells I missed in these two ledgers?
Required: 1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions. a. Bad debts are estimated to be 3% of credit sales. b. Bad debts are estimated to be 2% of total sales. c. An aging analysis estimates that 6% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31, 2017). General Journal Credit No 1...
Most questions answered within 3 hours.
-
Calculate the number of valence electrons for
[Mo(C6H6)(CO)3]
asked 40 seconds from now -
MGT-201: Marketing Management
Before deciding on the structure of the channel marketers must
take several factors...
asked 1 minute ago -
1. ACLs allow a router to control traffic within a network. The
concept is very similar...
asked 2 minutes ago -
Raising a heavy load requires work. Raising it in half the time
requires:
asked 1 minute ago -
35. When the electron in a hydrogen atom falls from its first
excited energy level to...
asked 4 minutes ago -
A man is dragging a box of mass "m" by using a rope which rests
on...
asked 20 minutes ago -
Liquid octane
(CH3(CH2)6CH3) will
react with gaseous oxygen (O2) to produce gaseous carbon
dioxide (CO2) and...
asked 21 minutes ago -
For the reaction N2(g) +
O2(g) --> 2NO(g), if the initial
concentration of NO was 0.00M...
asked 24 minutes ago -
On a recent quiz, the class mean was 75 with a standard
deviation of 2.2. Calculate...
asked 41 minutes ago -
Discuss the Coefficient of Restitution in an elastic collision
compared to the Coefficient of Restitution in...
asked 45 minutes ago -
Pretend that you are
the audit manager on an annual financial statement audit engagement
for a...
asked 54 minutes ago -
A certain lens focuses light from an object 1.65 m away as an
image 41.8 cm...
asked 54 minutes ago