Business, 27.03.2020 16:21 ianball025

The Company establishes a $480 petty cash fund on September 9. On September 30, the fund shows $265 in cash along with receipts for the following expenditures: transportation-in, $43; postage expenses, $55; and miscellaneous expenses, $113. The petty cashier could not account for a $4 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $600.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 01:30

The strength of the economy depends on the balance pf production and consumption of goods and consumption of goods and services

Answers: 1

Answer

Business, 22.06.2019 10:40

Two assets have the following expected returns and standard deviations when the risk-free rate is 5%: asset a e(ra) = 18.5% σa = 20% asset b e(rb) = 15% σb = 27% an investor with a risk aversion of a = 3 would find that on a risk-return basis. a. only asset a is acceptable b. only asset b is acceptable c. neither asset a nor asset b is acceptable d. both asset a and asset b are acceptable

Answers: 2

Answer

Business, 22.06.2019 11:10

How much are you willing to pay for a zero that matures in 10 years, has a face value of $1,000 and your required rate of return is 7%? round to the nearest cent. do not include a dollar sign in your answer. (i.e. if your answer is $432.51, then type 432.51 without $ sign)

Answers: 1

Answer

Business, 22.06.2019 20:40

Which of the following would indicate an improvement in a company's financial position, holding other things constant? a. the inventory and total assets turnover ratios both decline.b. the debt ratio increases.c. the profit margin declines.d. the times-interest-earned ratio declines.e. the current and quick ratios both increase.

Answers: 3

Answer

You know the right answer?

The Company establishes a $480 petty cash fund on September 9. On September 30, the fund shows $265...

Questions