1. A petty cash fund of $75 was established on April 1, Year 1. 2. Employees were reimbursed when they presented petty cash vouchers to the petty cash custodian. 3. On April 30, Year 1, the petty cash fund contained vouchers totaling $65.47 plus $10.13 of currency. Required Answer the following questions: a. How did the establishment of the petty cash fund affect (increase, decrease, or have no effect on) total assets? b. What is the amount of total petty cash expenses to be recognized during April? (Round your answer to 2 decimal places.) c. When are petty cash expenses recognized (at the time of establishment, reimbursement, or replenishment)? How did the establishment of the petty cash fund affect total assets? a. b. Total amount of petty cash expenses When are petty cash expenses recognized? C.

1. A petty cash fund of $75 was established on April 1, Year 1. 2. Employees were reimbursed when they presented petty cash vouchers to the petty cash custodian. 3. On April 30, Year 1, the petty cash fund contained vouchers totaling $65.47 plus $10.13 of currency. Required Answer the following questions: a. How did the establishment of the petty cash fund affect (increase, decrease, or have no effect on) total assets? b. What is the amount of total petty cash expenses to be recognized during April? (Round your answer to 2 decimal places.) c. When are petty cash expenses recognized (at the time of establishment, reimbursement, or replenishment)? How did the establishment of the petty cash fund affect total assets? a. b. Total amount of petty cash expenses When are petty cash expenses recognized? C.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

FIND(x) FOR THE SHOWN CASH -FIOW DIAGRAMS USE:i=9% 2 3 4 1500 5 6 7 8 1500 9
Q.47 Using the repeatability assumption, what is the PW of Alternative Y? O. $22,436 O. $58,192 O. $7,740 O. $12,385 Q. 48 Using coterminated assumption, what is the FW of Alternative X? O. $12,385 O. $7.740 O. $22,436 O. $58,192 Q. 49 Using the coterminated assumption, what is the FW of Alternative Y? O. $22,436 O. $58,192 O. $12,385 O. $7,740 Q. 50 Which alternative is selected? O. Alternatíve X O. Alternative Y O. neither X nor Y is economically attractive O. X and Y are equally attractive
Is 46.15:1 a good current ratio?
where did the 14.85 come from?
I don't unsderstand this computation .30P16.50+.30×100. How did you get 1.785714285% or 1.79%?
B6. what is the variance
If i 2%, the value of X in the following CFD is nearest to: 10 10 10 10 20 20 20 20
what are the solutions for questions 4 & 5?
next answer?
for requirement 17, why do you multiply 120 by 11, where does the 11 come from?
Hansen Corporation. a C Corporation (mot a manufacturer) reports the following items in income and expenses for 2021 Gross Revenue $900,000 Dividend Received from 30% owned Corp 200,000 LTCG 30,000 STCL 12000 City of Lee's Summit Bond Interest 10000 COGS 375000 Administrative Expenses 325000 Charitable Contribution 60,000 Compute Hansen's C Corp Taxable income?
Sh11