Business, 05.05.2020 23:08 LilBrookilyn2701

On Dec. 31 The petty cash custodian performs the month-end reconciliation and totals the receipts as follows: Postage stamps used $58 Courier costs $73 Company lunch costs $61 Office decorations $30 $68 of cash remained on hand. Record the entry to reimburse the petty cash fund. Book any overage or shortage to Petty Cash Overage/Shortage. Use Misc. expense for all costs noted above. 27.On Dec. 31 Deposited $30,000 in a bond sinking fund (related to paying back bonds payable). Use the Other assets account for the debit. 28.On Dec. 31 Record the journal entry to decrease the petty cash fund to $250 from $300.

Answers: 1

Show answers

Answers

Answer from: allytrujillo20oy0dib

total petty cash expenses:

Postage stamps $58 Courier $73 Company lunch $61 Office decorations $30total $222

money left in the petty cash fund $68, so $10 are missing

December 31, petty cash fund reimbursement:

Dr Miscellaneous expenses 222

Dr Petty cash shortage 10

Cr Cash 232

December 31, bond sinking fund established:

Dr Other assets account 30,000

Cr Cash 30,000

December 31, petty cash fund is reduced by $50

Dr Cash 50

Cr Petty cash fund 50

Answer from: chutchins0406

Explanation:

Question A: Petty cash Reimbursement fund

Dr. $ Cr.. $

Miscellaneous expenses. 222. Cash 232

Petty Cash shortage . 10

Question B: Bond sinking Fund

Dr. $ Cr. $

Other assets a/c. 30,000. Cash. 30,000

Question C: Petty Cash Fund

Dr. $ Cr. $

Cash. 50. Petty Cash Fund 50

Additional Information

For the petty cash Reimbursement, total expenses were at $222 and money in hand is $68, making a total of $10 shorting from the petty cash fund out of a combined total of $300.

Answer from: Quest

answer/// sequence of operations that requires the longest time for completion';

Answer from: Quest

lawyer < 3 love yahh vic. imu

Another question on Business

Business, 21.06.2019 20:20

Atoy manufacturer makes its own wind-up motors, which are then put into its toys. while the toy manufacturing process is continuous, the motors are intermittent flow. data on the manufacture of the motors appears below.annual demand (d) = 50,000 units daily subassembly production rate = 1,000setup cost (s) = $85 per batch daily subassembly usage rate = 200carrying cost = $.20 per unit per year(a) to minimize cost, how large should each batch of subassemblies be? (b) approximately how many days are required to produce a batch? (c) how long is a complete cycle? (d) what is the average inventory for this problem? (e) what is the total annual inventory cost (holding plus setup) of the optimal behavior in this problem?

Answers: 2

Answer

Business, 22.06.2019 08:30

Sonic corp. manufactures ski and snowboarding equipment. it has estimated that this year there will be substantial growth in its sales during the winter months. it approaches the bank for credit. what is the purpose of such credit known as? a. expansion b. inventory building c. debt management d. emergency maintenance

Answers: 3

Answer

Business, 22.06.2019 09:00

Harry is 25 years old with a 1.55 rating factor for his auto insurance. if his annual base premium is $1,012, what is his total premium? $1,568.60 $2,530 $1,582.55 $1,842.25

Answers: 3

Answer

Business, 22.06.2019 12:30

howard, fine, & howard is an advertising agency. the firm uses an activity-based costing system to allocate overhead costs to its services. information about the firm's activity cost pool rates follows: stooge company was a client of howard, fine, & howard. recently, 7 administrative assistant hours, 3 new ad campaigns, and 8 meeting hours were incurred for the stooge company account. using the activity-based costing system, how much overhead cost would be allocated to the stooge company account?

Answers: 1

Answer

You know the right answer?

On Dec. 31 The petty cash custodian performs the month-end reconciliation and totals the receipts as...

Questions