WebUnder federal law, employers may deduct the cost of a uniform (including the cost of having it cleaned and pressed) from an employee's paycheck, as long as the employee's wages after the deduction don't fall below the minimum wage. If an employee earns the minimum wage, the employer may not require the employee to pay for a uniform, through ... WebThe company agrees to lend the employee $800 and to withhold $100 per week from the employee's weekly payroll checks until the $800 is repaid. The company will debit the …
Did you know?
Web11 okt. 2015 · Employees post dated check4,000. IOU from employees10,000. Credit memo from a vendor for a purchase return20,000. Travelers check50,000. Money order30,000. Petty cash fund (P4,000 in currency and expense receipts for P6,000)10,000. Pension fund2,000,000. DAIF check of customer15,000. Customers check dated … Webc) The company uses the calendar year. The cash receipts journal was held open until January 15, 2007, during which time P400,000 was collected and recorded on December 31, 2006. Question: The cash and cash equivalents to be shown on the December 31, 2006 balance sheet is a. P3,310,000 c. P2,910,000 b. P1,910,000 d.
Web23 okt. 2024 · The term IOU is the phonetic spelling of the phrase "I Owe You." Usually, an IOU is a signed informal notice of an unpaid debt. Read the full definition. Friday, April 14, 2024. ... An IOU may also be the uncomplicated method of documenting small debts between employees, friends or even family. WebIOUs from officers 30,000 Sinking fund cash 450,000 Listed shares held as trading investment 120,000 fOn December 31, 2012, what total amount should be reported as “cash and cash equivalents”? a. 2,660,000 b. 2,810,000 c. 2,770,000 d. 810,000 Solution 9-4 Answer b Undeposited collections 60,000 PCIB checking account 500,000
Webaccount, 50% of which is restricted $ 40,000 Employee’s postdated check P 55,000 IOU from the vice president 88,000 Credit memo from a vendor 78,000 Money market … WebPops Co. established a P3,000 petty cash fund. You found the following items in the fund: Cash and currency P1,683.80 Expense vouchers 829.80 Advance to salesman 200.00 IOU from employee 300.00 In the entry to replenish the fund, what amount should be debited to Cash Short and Over? a. P500.00 c. P13.60 b.
Web23 okt. 2024 · Usually, an IOU is a signed informal notice of an unpaid debt, sometimes because of partial payment and an outstanding balance due. For example, Company …
WebLikewise, but the cumulative amount that is in there over weeks, there should be limited access to the fund. Petty cash employee ious, employees will be given between friends and coins kept on a free with total cash reconciliation of iou is. Proceeds of the cheque should be securely kept in a locked cash box. reactions to four seasonsWebExpenditures from the fund by the custodian as of May 31, 2024, were evidenced by approved petty cash vouchers for the following: Various office supplies P3,920 IOU from employees 1,200 Shipping charges 2,298 Miscellaneous expense 1,526 On May 31, 2024, the petty cash fund was replenished and increased to P12,000; currency and coin in the … how to stop chrome os from updatingWeb22 aug. 2024 · An IOU, or “ I Owe You “, is a written acknowledgment of debt to another party. An IOU is a simple debt form used when two parties want to record a loan without the hassle of a complicated agreement. People who use an IOU are commonly trustworthy or close individuals such as business partners, friends, or family members. Sample I OWE … reactions to flea medicationWeb5 feb. 2024 · For example, if ABC International issues a $1,000 advance to employee Smith, it may record the initial transaction as: Debit. Credit. Other receivables. 1,000. Cash. 1,000. No matter what method is later used to repay the company - a check from the employee, or payroll deductions - the entry will be a credit to whichever asset account … how to stop chrome redirectsWebPROBLEM 6 Anying Velasco is reviewing the cash accounting for FOUR Inc. Anying’s review will focus on the petty cash fund account and the bank reconciliation for the month ended May 31, 2016. She has collected the following information from FOUR’s bookkeeper for this task. Petty Cash Fund 1. The petty cash fund was established on May 2, 2016, in … reactions to first time hearing pavarottiWeb8 okt. 2010 · If you buy something small for the business or other employees with the money from petty cash, that IOU is part of petty cash. However, if you have an IOU (I … reactions to glutenWebPostage stamps, P22,000; Employees’ postdated checks, P30,000; I.O.U. from president’s brother, P75,000; Traveler’s check P50,000; No-sufficient funds check, P18,000; Petty cash fund (P16,000 in currency & expenses receipts for P84,000), P100,000 and Cashier’s checks, P36,000. how to stop chrome update