Answer and Explanation:
The Journal entry is shown below:-
September 9
Petty cash fund Dr, $400
To Cash $400
(Being establishment of petty cash fund is recorded)
Here we debited the petty cash fund as assets is increasing while we credited the cash is decreasing.
September 30
Merchandise Inventory Dr, $51
Postage expense Dr, $73
Cash Short and over Dr, $13
Miscellaneous Dr, $141
To Petty Cash $278
(Being reimburse of petty cash find is recorded)
Here we debited the merchandise Inventory, postage expense, cash short and over and miscellaneous as it is expenses while we credited the petty cash as is reimbursed.
October 1
Petty cash fund Dr, $60
($460 - $400)
To Cash $60
(Being increase in petty cash fund is recorded)
Here we debited the petty cash fund as assets is increasing while we credited the cash is decreasing.
Answer:
The correct answer is option (C).
Explanation:
According to the scenario, the given data are as follows:
Base year basket price = $5,000 billion
Year 2 basket price = $5,500 billion
So, we can calculate the consumer price index by using following formula:
Consumer price index = (Year 2 basket price ÷ Base year basket price ) × 100
By putting the value, we get
Consumer price index = ( $5,500 ÷ $5,000 ) × 100
= 1.1 × 100
= $110 billion
<span>This is most likely an example of a franchise opportunity. It could also be considered to be a hybrid type of franchise where the indepenent dealers have more leeway in how the business looks and how it is run. This would be a win/win for many independent dealers as the would still be making most of the local decisions.</span>
Answer: $7185
Explanation: Shareholders equity refers to the amount of funds that are collected by the company by selling their ownership rights in the market to the general investors.
As per the subject matter of accounts, every asset that is owned by an organisation is either financed by the available funds or some liability is taken to buy it. This could be illustrated as follows :-
assets = shareholders equity + liabilities
Putting the values into equation we get :-
$2280 + $ 10,400 = $1,405 + $4090 + shareholders equity
therefore :-
shareholders equity = $7185
So one can make sure that a creditor of the insured isn't paid more than the exquisite mortgage at the time of declaration, the coverage proprietor should: Convertible insurance
A creditor is an entity, a business enterprise, or someone of a felony nature that has provided items, offerings, or a financial loan to a debtor. as soon as a creditor has given a loan, the fee is expected at a later date, generally agreed upon in advance.
A creditor is a man or woman or institution that extends credit to any other celebration to borrow cash normally by way of a mortgage agreement or contract. lenders including banks can repossess collateral like homes and automobiles on secured loans, and take borrowers to the courtroom over unsecured money owed.
For instance, a debtor/creditor relationship is if you take out a mortgage to shop for your house. then you as the property owner are a debtor, while the bank that holds your loan is the creditor. In trendy, if someone or entity has loaned cash then they are a creditor.
Learn more about creditors here:
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