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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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Aleonysh [2.5K]

The statement,"A disadvantage of vertical integration is that by pooling demand for parts from a number of companies, a supplier may be able to enjoy economies of scale that result in higher quality and lower cost than if every company makes its own parts" is True .

<u>Explanation: </u>

The drawback to vertical integration is that a producer can have economies of scale, and incorporate demand for components from certain companies and therefore improve quality and cost in contrast with the production of their own products by each company.

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8 0
3 years ago
2 brothers, Joe and Bob get equal dollar amounts of securities as a gift. Joe immediately sells his securities and deposits the
raketka [301]

Answer:

Opportunity cost

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3 years ago
Nash's Trading Post, LLC had a balance in the Accounts Receivable account of $761000 at the beginning of the year and a balance
WARRIOR [948]

Answer:

4

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receivable turnover = net credit sales / average inventory

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Explain two factors have affected the organisation of the businesses functional activities
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Answer:

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