Answer:
A credit to Cash of $299
Explanation:
Journal Entry Debit Credit
Merchandise inventory $62
Delivery charges $46
Office supplies $30
Miscellaneous expenses $51
Cash over and short
$100
Cash $299
Cash to be reimbursed = Minimum cash balance required - Cash balance left
Cash to be reimbursed = $500 - $201
Cash to be reimbursed = $299
Your parents give you a large set of instructions and ask you to watch your brother for the evening. There is no collaboration in this situation.
An agreement between two or more persons to manage a business's operations and divide its assets and liabilities is known as a partnership. In a general partnership corporation, the assets and liabilities are divided equally among all of the partners.
By definition, a partnership firm consists of two or more individuals who pool their resources to create a company and agree to split the risks, rewards, and losses. Examples of common partnership businesses include law firms, medical groups, investment real estate companies, and accountancy groups.
Two or more persons are required. An agreement is required. The firm must distribute its gains. There has to be reciprocal agency.
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in the budgeting process you should create a budgeted balance sheet and budgeted income statement. Your balance sheet and income statement, whether budgeted or actual, are the two great financials. They reflect the bottom line, showing how the business is doing.
