Answer:
The correct options are:
- A. It is used to avoid the time and cost of writing checks for small amounts.
- C. It is established to pay for small payments like postage, shipping fees, etc.
- E. It is an asset reported on the balance sheet.
Explanation:
A Petty Cash Fund is a small amount of money that is kept on hand to be used in covering for the making of purchases that are too small to bother to write a check. Money from the petty cash fund can be used to pay for minor expenses such as postage, cab fares, shipping fees or office supplies.
Petty cash fund appears in the balance sheet on the current assets section. This is because line items in the balance sheet are sorted according to their order of liquidity. Since petty cash is highly liquid, it always appears near the top of the balance sheet.
Answer:
Conversation
Explanation:
According to Dean Jarley, The EXCHANGE is a place in the college where conversation happen in order to create a culture of engagement.
Dean Jarley said that 'the idea behind The Exchange is simple' because education at its highest level happens when people are given the opportunity to interact, discuss and have a conversation with some other person who has brilliant ideas to share.
Furthermore, Dean Jarley believes that the more opportunities people have to engage in such conversations, the more they are likely to exchange brilliant ideas and the more learning will occur.
Answer:
1) Cost of raw material put into production = 32000+420000-57000 = 395000
2) Indirect material = 395000-323000 = 72000
3) Indirect labour = 179000-152000 = 27000
4) Cost of goods manufactured = 520000
5) Cost of goods sold = 43000+520000-132000 = 431000
6) Overhead rate = 250800*100/152000 = 165% of direct labour cost
7) Applied overhead = 250800
Actual overhead = 216000
Overapplied overhead = 250800-216000 = 34800
8) Calculate balance
Ending work in progress:282800
Direct labour:8000
Overhead (8000×165%)=13200
Direct material(282800-8000-13200)=261600.
Attached is the table of data used.
