Spencer co decides to establish a petty

Author: gcwx

August undefined, 2024

WebBusiness Accounting Spencer Co. has a $430 petty cash fund. At the end of the first month the accumulated receipts represent $66 for delivery expenses, $219 for merchandise inventory, and $35 for miscellaneous expenses. The fund has a balance of $110. WebOct 24, 2024 · 49) Spencer Company decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be …

What to Watch: The Wedding Cottage, Barry, Mrs. Davis

WebBusiness Accounting Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage, $74; transportation-in, $29; delivery expenses, $16; and miscellaneous expenses, $43. Palmona uses the perpetual system in accounting for merchandise inventory. WebSpencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be processed through petty cash instead of the voucher system. The journal entry to record establishing the account is: … marian roster football

Answered: Kiona Company set up a petty cash fund… bartleby

WebQuestion: GL0601 - Based on Problem 6-2A LO P2 Adams Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May. May 1 Prepared a company check for $400 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following … WebQuestion: 5 - Journalize the following transactions related to petty cash. On 3/1 Your Co. decides to establish a petty cash fund and takes $100 of cash out of its checking account & puts it into petty cash. On 3/16 Your Co, replenishes the petty cash fund. The fund had $10 cash left and receipts as follows: postage $30, office supplies $20 ... WebQuestion 2 5 out of 5 points Spencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be … marian roth

3.2 Petty Cash – Financial and Managerial Accounting - Unizin

Accounting Exam 2 Flashcards Quizlet

WebQuestions and Answers for [Solved] Spencer Co.decides to establish a petty cash fund with a beginning balance of $200.The company decides that any purchase under $25 can be processed through petty cash instead of the voucher system.The journal entry to record establishing the account is: A)Debit Cash $200 and credit Petty Cash $200. B)Debit Cash … WebNov 18, 2024 · Spencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be processed through … marian rothsteinWebSpencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be processed through petty cash … natural gas supplies near me

"WebSpencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be processed through petty cash … " - Spencer co decides to establish a petty

Spencer co decides to establish a petty

Solved 3 AB с D E 5 - Journalize the following Chegg.com

Web5 minutes ago · 10/9c The Company You Keep (ABC) Emma and Birdie teaming up isn’t something we had on our bingo card. But alas, here we are. And while the two get further acquainted, Leo will engage in a con ... WebSpencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be processed through petty cash instead of the voucher system. The journal entry to record establishing the account is: in Business.

Did you know?

WebPB 8. LO 8.4 On July 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare journal entries for the following transactions: On July 5, the petty cash fund needed replenishment, and the following are the receipts: Auto Expense $125, Supplies $368, Postage Expense $325, Repairs and Maintenance Expense $99 ... WebThe journal entry to establish the petty cash fund would be as follows. Figure 3.9 By: Rice University Source: Openstax CC BY-NC-SA 4.0. ... If the management at a later date decides to decrease the balance in the petty cash account, the previous entry would be reversed, with cash being debited and petty cash being credited. ...

WebOn 3/1 Your Co. decides to establish a petty cash fund and takes $300 of cash out of its checking account & puts it into petty cash. On 3/16 Your Co. replenishes the petty cash fund. The fund had $30 cash left and 4 receipts as follows: postage $90, office supplies $60, and miscellaneous $150. 5 On 3/18 Your Co. decides to increase the petty ...

WebFeb 8, 2024 · Chapter 6 Problems. · Question 1. Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company's fiscal year). May. 1. Prepared a company check for $300 to establish the petty cash fund. 15. WebSee Answer. Question: Ferguson Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be processed through petty cash instead of the voucher system. The journal entry to record establishing the account is: Ferguson Co. decides to establish a petty cash fund with a ...

Web29. Spencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchases under $25 can be processed through petty cash …

WebBusiness Accounting Waupaca Company establishes a $350 petty cash fund on September 9. On September 30, the fund shows $104 in cash along with receipts for the following expenditures: transportation-in, $40; postage expenses, $123; and miscellaneous expenses, $80. The petty cashier could not account for a $3 shortage in the fund. marian rosary beadsWebQuestion 2 5 out of 5 points Spencer Co. decides to establish a petty cash fund with a beginning balance of $200.The company decides that any purchase under $25 can be processed through petty cash instead of the voucher system. The journal entry to record establishing the account is: Selected Answer: Debit Petty Cash $200 and credit Cash $200. natural gas suppliers perthWebSpencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be processed through petty cash instead of the voucher system. The journal entry to record establishing the account is: A. Debit Petty Cash $200; credit Cash $175; and credit Cash Over and Short $25. marian roussetWebSpencer Co. has a $430 petty cash fund. At the end of the first month the accumulated receipts represent $66 for delivery expenses, $219 for merchandise inventory, and $35 for … natural gas suppliers texasWebJun 22, 2024 · Spencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be processed through … natural gas stub outWebQ: Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in…. A: The question is multiple choice question. Required Choose the Correct Option. Q: EcoMart establishes a $1,050 petty cash fund on May 2. On May 30, the fund shows $326 in cash along…. marian rutledgeWebMar 25, 2024 · Spencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under $25 can be processed through … marian ruyter counsellor