Answer:
The journal entry to record the establishment of the fund on september 1 is:
1 September Petty Cash $ 470 Dr.
Cash $ 470 Cr.
31st September Office supplies, $95 Dr.
Merchandise inventory, $ 181 Dr.
Miscellaneous expenses $ 44 Dr.
Cash $320 Cr.
To reimburse Petty Cash
The journal entry to reimburse and to increase the fund are same .
October 1 Petty Cash $ 94
Cash $ 94
To increase the Petty Cash by $ 94
Answer:
Option (B) is correct.
Explanation:
Given that,
Selling price per unit = $48
Desired profit margin on sales = 12.5%
Flyer’s current full cost for the product = $44 per unit
Profit = Selling price × profit margin
= $48 × 12.5%
= $6
Target cost of unit = Selling price - Profit
= $48 - $6
= $42
Lcm requires to value inventory at the lower of acquisition cost or net realizable value.
Net realizable value = $27 - $1 = $26
Cost = $30
Therefore, it would be valued at $26
Answer:
true
Explanation:
What you do now or what your planning on doing can always determines what you can possibly do next. But you have to make sure your not doing or posting anything bad on the internet or else they won't hire you.
For a restaurant, some variable costs could be labor costs/ worker wages, raw product/ purchasing food to cook, and energy and fuel/ utilities.
