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Alik [6]
3 years ago
8

Silver Co. has a $430 petty cash fund. At the end of the first month the accumulated receipts represent $66 for delivery expense

s, $219 for merchandise inventory, and $35 for miscellaneous expenses. The fund has a balance of $110. The journal entry to record the reimbursement of the account includes a:
Business
1 answer:
ratelena [41]3 years ago
6 0

Answer:

The correct answer is credit to cash by $320..

Explanation:

According to the scenario, Journal entry of the given data are as follows:

Journal entry

Delivery expense A/c Dr $66

Merchandise inventory A/c Dr $219

Misc. Expense A/c Dr $35

To Cash A/c $320                            ( $66 + $219 + $35)

(Being reimbursement of the account is recorded )

Hence, reimbursement of the account includes  credit to cash by $320.

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Concentration ratios measure the Group of answer choices geographic location of the largest corporations in each industry. degre
nika2105 [10]

Answer:

percentage of total industry sales accounted for by the largest firms in the industry.

Explanation:

The concentration ratio calculated the market share percentage for an industry and the same is held by the larger firms inside the industry. Also it determined the total output that could be generated from the number of firms in the industry

Therefore as per the given options, the above options should be considered correct

3 0
3 years ago
Credit sales to customers are: Group of answer choices A. Recorded using the Enter Bills window B. Recorded in a Credit Card Sal
Fed [463]

Answer:

C. Recorded using a Create Invoices window

Explanation:

Credit sales refers to the purchases made by customers for which payment is delayed. A reasonable payment delay allows customers to make additional purchases as delayed payments allow customers to generate cash with the purchased goods which in turn can be used to pay back the seller.

These are purchases made by a customer that do not require a full payment  at the time of purchase.

Credit sales to customers are <u>recorded using a Create Invoices window.</u>

7 0
3 years ago
On January 1, 2021, Legion Company sold $250,000 of 6% ten-year bonds. Interest is payable semiannually on June 30 and December
notsponge [240]

Answer:

The bond interest expense to be shown in profit or loss as t 30 June 2021

$9,838.56

Explanation:

The bond interest expense is the actual finance cost of using the funds made available by bondholders while the coupon payment is the portion of the finance cost paid to them periodically.

Interest expense=bonds cash proceeds*yield to maturity*6/12

bonds cash proceeds is $163,976

yield to maturity is 12%

interest expense=$163,976*12%*6/12=$9,838.56  

5 0
3 years ago
Read 2 more answers
Financial manager at Marshall Manufacturing, Chase is exploring sources of long-term funds to finance the construction of Marsha
daser333 [38]

Answer:

A. True

Explanation:

Since Chase wants a long term fund that doesn't require a interest, it can be advisable that Chase uses the company's retained earnings.

Retained earnings (RE) is the amount of net income left over for the business after it has paid out dividends to its shareholders. A business generates earnings that can be positive (profits) or negative (losses).

8 0
3 years ago
Examine the table comparing two individuals.
Jobisdone [24]

Answer:

1- selma

2- tobacco use

3- preexisting condition

Explanation:

I just took it on edge

4 0
3 years ago
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