Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Gannon Company establishes a $400 petty cash fund on September 9. On September 30, the fund shows $166 in cash all along with receipts for the given expenditures: transportation-in, $32; postage expenses, $113; and miscellaneous expenses, $87. The petty cashier could not account for a $2 shortage in the fund. Gannon uses the perpetual system in accounting for merchandise inventory. Prepare:

a) The September 9 entry to establish the fund and

b) The September 30 entry to both reimburse the fund and decrease it to $300.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M923608

Have any Question? 


Related Questions in Accounting Basics

Assignmentpart iexplain what you learn about the

Assignment PART I Explain what you learn about the disclosures of your SEC 10-K company relating to Income Taxes. Your comments should relate to net income or loss as well as to the balance sheet treatment and disclosure ...

Assignment expected value and consumer choicesexpected

Assignment: Expected Value and Consumer Choices Expected Value and Consumer Choices Consumers' choices are prey to subtle discrepancies that arise in cognitive accounting. Learning how and when you are prey to these disc ...

Question 1the board of directors is considering updating

Question 1 The board of directors is considering updating the fleet of vehicles of the company which are used to ship goods to markets all around the United States. They will be leasing the vehicles as opposed to purchas ...

This assignment will assess the following learning

This assignment will assess the following learning outcomes: - Demonstrate the impact on the financial statements and the implication for different users of accounts of alternative ways of treating controversial accounti ...

Task -question 1 - saasu task 1you are working as an

Task - Question 1 - Saasu Task 1 You are working as an accountant in a regional accounting firm and have been approached by the owner of a start-up retail business. They have chosen Saasu as their accounting system and h ...

Assignmentpart 1the president of eec recently called a

Assignment Part 1 The President of EEC recently called a meeting to announce that one of the firm's largest suppliers of component parts has approached EEC about a possible purchase of the supplier. The President has req ...

Project assignmentdo investors react to stock

Project Assignment Do Investors React to Stock Dividends? Financial accounting theory predicts that there should be no market reaction to a company's stock dividend. This is because the market value of the shares should ...

Accounting anonymousabsorption and variable costing please

Accounting Anonymous Absorption and Variable Costing: Please respond to one of the following: Option 1 Create a situation for determining performance evaluations and bonuses where absorption-costing operating income is u ...

Ics manufacturing company produces plastic parts for the

ICS Manufacturing Company produces plastic parts for the automotive industry. Here is their Income Statement for 2015 - ICS Manufacturing Company Income Statement for 2015 Sales Revenue $35,500,000 Cost of Goods Sold 12, ...

Assessment one - business research report proposal initial

Assessment One - Business Research Report Proposal: Initial Research Proposal The initial research proposal will consist of the following SIX (6) items: 1. Identify a business research topic 2. Define the research questi ...

  • 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