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3 years ago

A $100 petty cash fund has cash of $17 and receipts of $86. The journal entry to replenish the account would include a :

Business

2 answers:

Hunter-Best [27]3 years ago

6 0

Answer:

credit to cash over and short for $3

Explanation:

petty cash fund = $100

cash available = $17

receipts = $86

in order to replenish the account

cash available + receipts - petty cash fund

= ( $86 + $17 ) - $100 = $3

The journal entry for this transaction will be : credit to cash over and short for $3

A petty cash fund is an account set aside by a firm or company for the day to day running of the company ( minor expenses) and there is usually a threshold amount expected to be in it hence in the Journal a credit to cash over and short for $3 will be entered.

Paladinen [302]3 years ago

4 0

Answer:

The correct option is C, credit to cash over and short for $3

Explanation:

The requirement targets the balancing entry in the cash account,with cash of $17 in the petty cash account coupled with receipts of $86, the total amount in the petty cash is $103 ($86+$17) and the established float is just $100, which implies that the petty cash has an excess fund of $3 that must be returned to the main cash account.

The excess is the difference between $103 cash in the petty cash account and the maximum float of $100($103-$100)

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Answer:

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Explanation:

Giving the following information:

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To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

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3 years ago

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4 years ago

A generation ago, workers tended to work for three to four employer(s) during their working years. Group of answer choices True

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2 years ago

Currently, a company has units of safety stock for a product located in warehouses. The company is contemplating expanding to wa

xz_007 [3.2K]

Answer:

The full question is "Currently, a company has 59,000 units of safety stock for a product located in 9 warehouses. The company is contemplating expanding to 28 warehouses. The company believes that this increased safety stock inventory investment with the new locations will result in an additional $950,000 in revenue due to improved customer service. Assuming that each unit in safety stock inventory costs $4, is the expansion to 28 warehouses a potentially good idea? The proposed plan Y sense for the company because the change in total profit is $. Enter your response rounded to the nearest dollar and include a minus sign if appropriate.)"

Current Total safety stock = 59,000

No. of warehouses = 9

Safety stock per warehouse = 59,000/9 = $6,555.56

New number of warehouses = 28

Increase in number of warehouses = 28 - 9 = 19

Increase in number of safety stock = 19 * 6,555.56 = 124,555.64

Cost of each unit of safety stock = $4

Cost of increased safety stock = $4 * 124,555.54

Cost of increased safety stock = $498,222.56

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Since, additional revenue > additional cost of safety stock, the additional warehouses is a good idea.

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3 years ago

Agile project management involves ____ whereas traditional project management involves _______. Multiple Choice known and stable

Ainat [17]

Answer:

For comprehension purposes, I would write the question again with options attached below:

Agile project management involves ____ whereas traditional project management involves _______. Multiple Choice

a. known and stable scope, unknown requirements

b. high certainty, projects with unstable scope

c. projects with high predictability, project with unknown or unstable requirements

d. iterative and incremental delivery, upfront planning with high predictability

e. high uncertainty, projects with unknown requirements

The correct answer is option d. (iterative and incremental delivery, upfront planning with high predictability)

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Explanation:

Agile project management involves iterative and incremental delivery as Agile project management allows making changes to the product which then opens ways for iteration. Agile life cycles are composed of several iterations because of changes that might arise due to feedback during the production process of the project.

Traditional project management is highly predictable and it doesn't give room for changes as project cycles and stages are planned ahead. It's a rigid process.

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3 years ago