NettetPrepare the journal entry to establish the petty cash fund. 2. Prepare a petty cash payments report for February with these categories: delivery ... There is a cash overage of $4. Based on this information, the amount of cash in the fund before the replenishment is: $400; $320; $80; $76; $84; Q9. Internal control policies and procedures have ... Nettet9. aug. 2024 · Lease accounting, lease period extended after year 1 – Journal entries Details for lease accounting for lease extension Let us assume the following details for lease accounting: Lease start date: 1-Apr-2024 Lease end date: 31-Mar-2024 Lease payments: Rs. 2,75,000 Payment frequency: Annual – payable at the end Incremental …
How is the account Cash Short and Over used?
NettetThe journal entry for the payment of sales tax is as follow: In practice, before making sales tax payment to the tax authorize, a business can claim the purchase tax or simply input tax on VAT. Then, the company will need to pay to the tax authority on the net remaining after claiming the input tax. READ: What is Going Concern Principle? … Nettet6. feb. 2024 · Accordingly the loss on disposal journal entry would be as follows. Loss on Disposal Journal Entry – Sold at a loss; Account Debit Credit; Fixed Assets : 9,000: Accumulated Depreciation: 6,000 : Cash: 2,000 : Disposal of Fixed Assets: 1,000 : Total: 9,000: 9,000: The business receives cash of 2,000 for the asset, however it still ... golf center locales and shylo
Petty Cash - principlesofaccounting.com
Nettet14. apr. 2014 · Cash Control & Cash Shortage and Overage Journal Entry NettetAn unexplained cash overage of a government entity is recorded as a CREDIT TO MISCELLANEOUS INCOME ACCOUNT. ... No journal entry is pr epared when a disbur sement is ma de out of the petty cash fund. TRUE. 6. A government entity est ablished a P30,000 petty cash fund. The c ust odian must be bonded. NettetA debit to Cash for $5,15 a credit to Cash Overage for $13 and a credit to Sales Revenue for $5,102 O A debit to Sales for $5,15 a debit to Cash Overage for $13 and a credit to Cash for $5,102 O A debit to Cash for $5102 a debit to Cash Shortage for Show transcribed image text Expert Answer 100% (2 ratings) healed teammates