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AlladinOne [14]
3 years ago
7

Riverbed Company designated Jill Holland as petty cash custodian and established a petty cash fund of $236. The fund is reimburs

ed when the cash in the fund is at $31, which it is. Petty cash receipts indicate funds were disbursed for office supplies $94 and miscellaneous expense $89. Prepare journal entries for the establishment of the fund and the reimbursement
Business
1 answer:
11Alexandr11 [23.1K]3 years ago
5 0

Answer:

The journal entry is shown below:

Explanation:

According to the scenario, the journal entries for the given data are as follows:

Petty cash A/c Dr  $236

To Cash A/c $236  

(Being establishment of the fund is recorded )

Office supplies A/c Dr  $94

Misc. Expense A/c Dr $89

Cash Over / Short Dr $22             ( $236 - $31 - $89 - $94)

To Cash A/c  $205                        ( $236 - $31)

(Being Reimbursement of the fund is recorded)

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Jon works for a major bank. The revised employee handbook that he received 5 years ago says that all employees with 25 years of
Tanzania [10]

Answer:

no

Explanation:

The hand book gave to other employes did the same so should jon.

7 0
3 years ago
As a member of UA Corporation's financial staff, you must estimate the Year 1 cash flow for a proposed project with the followin
Airida [17]

Answer:

Option (C) is correct.

Explanation:

EBIT = Sales revenues - Depreciation - Other operating costs

        = $39,500 - $10,000 - $17,000

        = $12,500

EBT/PBT = EBIT - Interest expense

               = $12,500 - $4,000

               = $8,500

PAT = EBT - Tax rate

      = $8,500 - 35% of $8,500

      = $8,500 - $2,975

      = $5,525

CFAT = PAT + Depreciation

         = $5,525 + $10,000

         = $15,525

Therefore, the Year 1 cash flow is $15,525.

8 0
4 years ago
The partnership agreement for Wilson, Pickett & Nelson, a general partnership, provided that profits be shared between the p
Dovator [93]

Answer:

$27,500

Explanation:

The computation of the partnership loss borne by the Nelson is shown below:

= (Contributed amount by Nelson) ÷ (Firm contribution amount) × (loss incurred)

= ($50,000) ÷ ($200,000) × ($110,000)

= 0.25 × $110,000

= $27,500

The firm contribution amount would be calculated below:

= Wilson contributed amount + Pickett contributed amount + Nelson contributed amount

= $100,000 + $50,000 + $50,000

= $200,000

8 0
4 years ago
Gawain is a research chemist at Clean & Clear Bottled Water. Recently, bottled water companies all over the world have been
Klio2033 [76]

Answer:

Ambiguity because the reason is that "The goal is not clear, and neither is the solution". (Option D)

Explanation:

Ambiguity is  the situation in which the management is not clear about the solution and setting goals though their are number of options are available.

The reason is that the goal is not clear here and Gawain is uncertain how to resolve the problem. In such situations the researcher must contact his senior level management and ask for guidelines which addresses what should Gawain prefer to do, make bottles bio-degradable or make chemicals research which makes the water taste better.

3 0
3 years ago
The purpose of an advocacy advertisement is to:_______
yawa3891 [41]

Answer:

c.

Explanation:

Advocacy advertisement refers to marketing in order to raise awareness about a specific issue as well as convince the public to take specific action. Therefore in the context of business, the purpose of an advocacy advertisement is to state the position of a company on the specific issue being discussed issue.

3 0
4 years ago
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