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Anon25 [30]
3 years ago
8

Meng Co. maintains a $300 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represe

nt $80 for office supplies, $160 for merchandise inventory, and $20 for miscellaneous expenses. There is a cash shortage of $8.
Based on this information, the amount of cash in the fund before the replenishment is:

a) $300. b) $260. c) $40. d) $48. e) $32.
Business
1 answer:
Alona [7]3 years ago
3 0

Answer: The correct answer is e) $32.

Explanation:

Petty cash fund. $300

Office supplies. (80)

Merchandise inventory. (160)

Miscellaneous expenses. (20)

Cash shortage. (8)

Balance in petty cash. $32

In terms of accounting entries,

Debit Office supplies. $80

Debit Merchandise inventory. $160

Debit Miscellaneous expenses. $20

Debit Cash shortage. $8

Credit Petty cash refund. $268

In the above entries, $268 would be refunded to petty cash fund to reinstate it to $300.

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last year minden company introduced a new product and sold 15,000 units of it at a price of $70 per unit. the product's variable
Inga [223]

A company is a legal entity formed by a group of individuals to engage in and operate a business commercial or industrial enterprise. A company may be organized in various ways for tax and financial liability purposes depending on the corporate law of its jurisdiction.

Present Yearly Net operating income (loss)

(Units * CM Per unit)-Fixed cost

Units Sales 415000|

[Selling Price Per Unit 70

\Variabel Expense Per unit 40|

Fixed Expenses 540000]

Compute the CM ratio

Selling Price Per Unit 70.00

Variable Expense Per unit 40.00

Contribution Margin per unit ( Selling Price - Variable Cost) 30.00

Ico Ratio =( CM/Selling Price) 42.857%

Learn more about the company  here

brainly.com/question/24553900

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5 0
1 year ago
Rayman Automobiles, an automobile manufacturing company, was founded in 1912. The company primarily focused on creating greater
kiruha [24]

Answer:

Option C: Production Era

Explanation:

The production era. Is known as Stage 2 of marketing's evolution. found in the 1930s, highest production capability than ever before. The problem now became competition then. It was characterized by mass production of lots of products increased the availability of product in the marketplace that is available.

8 0
2 years ago
The owner of a ______ possesses the same interest as the owner of a fee simple absolute, except that this interest is subject to
KonstantinChe [14]

Answer:

Conditional Fee Estate

Explanation:

Based on the information provided within the question the term being described in the question is called a Conditional Fee Estate. This is (like mentioned in the question) similar to a fee simple except the property must eventually be passed on to the heirs. Which is why it is named as Conditional, because failure to do so will eventually cause the termination of the interest.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

3 0
3 years ago
Discount-Mart issued ten thousand $1,000 bonds on January 1, 2018. The bonds have a 10-year term and pay interest semiannually.
guajiro [1.7K]

Answer:

The interest rate of the bond issued it's 6%, so the company always pays the same amount of interest, $300,000 (3%) each period because it's semiannually, total year of $600,000.  

Explanation:

The difference lies on the rate interest accepted by the market, the information indicates that the market requires a higher interest rate to lend the money to the company at this moment.  

It the moment of the bond issued the company register:    

 Debit  $8,640,967  Cash  

 Debit  $1,359,033  Discount on Bonds Payable  

 Credit  $10,000,000  Bonds Payable  

   

At the moment of record the first interest payment    

 Debit  $345,639  Bond Interest Expense  

 Credit  $45,639          Discount on Bond Payable  

 Credit  $300,000  Cash  

   

At the moment of record the second interest payment    

 Debit  $347,464  Bond Interest Expense  

 Credit  $47,464          Discount on Bond Payable  

 Credit  $300,000  Cash  

5 0
3 years ago
How can you take the chemical smell out of lip gloss base?
hichkok12 [17]

You can add a scent to get rid of the chemical smell. The smell of the base can be very overpowering, and scents can do the trick. You can use essential oils.

Hope this helped! :)

3 0
3 years ago
Read 2 more answers
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