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Zinaida [17]
3 years ago
7

EcoMart establishes a $1,050 petty cash fund on May 2. On May 30, the fund shows $312 in cash along with receipts for the follow

ing expenditures: transportation-in, $120; postage expenses, $369; and miscellaneous expenses, $240. The petty cashier could not account for a $9 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare the (1) May 2 entry to establish the fund, (2) May 30 entry to reimburse the fund, and (3) June 1 entry to increase the fund to $1,200. View transaction list Journal entry worksheet 2 Record the May 2 entry to establish the fund.
Business
1 answer:
fredd [130]3 years ago
7 0

EcoMart establishes General Journal

May 2

Dr Petty cash 1050

Cr Cash 1050

May 30

Dr Merchandise inventory 120

Dr Postage expense 359

Dr Miscellaneous expenses 240

Dr Cash short and over 9

Cr Cash728

June 1

Dr Petty cash 150

Cr Cash 150

Workings:

May 30,Merchandise inventory 120+ Postage expense 359+ Miscellaneous expenses 240+ Cash short and over 9 = $728

June 1

1050-1200= 150

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A scale used to weigh produce at a market has markings every 0.1 kg. which measurement for the mass of a dozen apples is correct
AleksAgata [21]

A scale used to weigh produce at a market has markings every<u> 0.1 kg</u>

Measurement for the mass of a dozen apples is correctly reported for this scale<u> </u><u>1.87 </u><u>kg</u>

<u />

<h3>What is produced in the market?</h3>

Farm is a generalized term for many farm-produced crops, including fruits and vegetables (grains, oats, etc.

<h3>Why is it named produce?</h3>

Produce here refers to “fresh fruits and vegetables”. It's the noun understanding of that word, not the verb, and so its stress falls on the first syllable. Therefore the vegetables aisle is the place where such items are found.

To learn more about Measurement, refer

brainly.com/question/777464

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6 0
2 years ago
A house is appraised for $25,000, and shows an assessed value of $20,000. The taxes on the house are $300 annually. What would t
pashok25 [27]

Answer:

$600

Explanation:

In this situation, first we have to know that tax levy on assessed value.

<u>Computation of tax rate:</u>

Appraised Value = $25,000

Assessed value = $20,000

Tax = $300

Tax rate = ($300 / $20,000) x 100 = 1.5%

Assume Appraised Value = $45,000

Assume Assessed value = $40,000

Calculation of tax value = Assessed value x tax rate

= $40,000 x 1.5%

= $600

5 0
3 years ago
A project will produce an operating cash flow of $136,000 a year for three years. The initial cash outlay for equipment will be
pashok25 [27]

Answer:

     NPV  =$ 60,311.80

Explanation:

<em>The net present value (NPV) of a project is the present value of cash inflow  less the present value of cash outflow of the project.</em>

NPV = PV of cash inflow - PV of cash outflow

We can set out the cash flows of the project using the table below:

                                                  0                  1                   2                 3          

Operating cash flow                                136,000     136,000    136,000

Initial cost                              (274,000)

Working capital                     (61,000 )                                          61,000

Salvage value                        <u>               </u>    <u>             </u>      <u>           </u>      1<u>5000  </u>              

Net cashflow                     <u> (335,000)  136,000      136,000      212,000.</u>

PV  inflow= (136000)× (1.1)^(-1) + (136,000× (1.1)^(-2) + (112,000)× (1.1)^(-3)

       =  395,311.80

NPV =395,311.80 -335,000

       =$ 60,311.80

3 0
3 years ago
Large firms with multiple offerings in a particular product category engage in _____ targeting strategies to obtain a bigger sha
Sergeeva-Olga [200]

Answer: Differentiated

Explanation:

Differentiated Marketing is a form of marketing where a business offers several products to meet the needs of the different segments found in a market. Large firm's can produce several products to meet the need of the various market segments which would increase purchase of their products.

3 0
3 years ago
A tenant with a triple net lease rents a building that has the following yearly operating expenses: Property taxes $5,000, Utili
bonufazy [111]

Answer: $13500

Explanation:

The triple net lease refers to a lease agreement whereby the tenant pays all the property expenses such as property taxes, building insurance, utilities, repairs and maintenance.

Therefore, based on the question given, the expenses to be paid will be:

Property taxes = $5,000

Add: Utilities = $7,000

Add: Repairs & Maintenance = $1,500

Total = $13500

4 0
3 years ago
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