Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Basic Finance Expert

problem: Gannon Company establishes a dollar 400 petty cash fund on September 9. On September 30, fund shows $166 in cash along with receipts for the following expenditures: transportation-in, $32; $113; and miscellaneous expenses, postage expenses, $87. The petty cashier could not account for a $2 shortage in the fund. Cannon uses the continuous system in accounting for merchandise inventory. Prepare [A] September 9 entry to establish the fund and [B] September30 entry to both reimburse the fund and decrease it to $300.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M921613

Have any Question? 


Related Questions in Basic Finance

Ac corp currently uses no debt and its beta is 120

ABC Corp. currently uses no debt and its beta is 1.20. Further, ABC's CFO is considering moving to a capital structure with 40% debt. Assume the company's current ROE is 10.0%, its tax rate is 35.0%, the risk free rate a ...

Moonbeam electronics profiting from a foreign trade

MOONBEAM ELECTRONICS PROFITING FROM A FOREIGN TRADE ZONE Located in southwest Missouri,Moonbeam Electronics is a manufacturer of small electrical appliances, such as toasters, toaster ovens, can openers, mixers, and blen ...

To qualify as a true experiment a research study requires

To qualify as a true experiment, a research study requires the manipulation of at least one variable. The fact that some variables cannot (or should not) be manipulated limits the topics that can be investigated easily w ...

You work for a company with no international experience

You work for a company with no international experience that has an efficient production method for small engines. A Vietnamese company approaches your CEO with a proposal to form a joint venture with your company in Vie ...

Suppose you think msft stock is going to appreciate

Suppose you think MSFT stock is going to appreciate substantially in the next yr. The stock's current price is $100and call options expiring in 1 yr has an exercise price of $100 and is selling for $5. With $1,000 to inv ...

The rex-lint inc is planning to put a manufacturing

The Rex-Lint Inc. is planning to put a manufacturing facility in place to build widgets. The systematic risk of this project alone is 25% greater than they currently manage. The company has a target debt to value ratio o ...

1 how has the community development block grant served to

1. How has the Community Development Block Grant served to help communities perform local mitigation? 2. Why do some people consider insurance to not be a proper mitigation method? 3. Why are structural controls a contro ...

A company exports 37000 products to chile nbspunder an

A company exports 37,000 products to Chile  under an import license that expires in five years. In Chile, the products are sold for the Chile peso equivalent of $45. Direct shipping costs in the United States and indirec ...

Katherine wishes to endow a professorship in honor of her

Katherine wishes to endow a professorship in honor of her beloved mycology professor. The University's development office has prepared a proposal for her review, to wit, "The Agnew Chair in Fungus Studies," which will co ...

Ideas for future research studies often can be obtained

Ideas for future research studies often can be obtained from the discussion sections of research reports. Occasionally, the researchers provide explicit suggestions for new research studies. At other times, the suggestio ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen