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Natali [406]
3 years ago
10

Havermill co. establishes a $460 petty cash fund on september 1. on september 30, the fund is replenished. the accumulated recei

pts on that date represent $94 for office supplies, $179 for merchandise inventory, and $43 for miscellaneous expenses. the fund has a balance of $144. on october 1, the accountant determines that the fund should be increased by $92. the journal entry to record the establishment of the fund on september 1 is:
Business
1 answer:
svp [43]3 years ago
4 0

Answer:

Explanation:

The journal entry to record the establishment of the fund on September 1 is:

Debit: Petty Cash. $460

Credit: Bank. $460

Being cash drawn for petty cash.

Other journal entry for the disbursement of the petty cash fund are:

1. Debit: Office Supplies. $94

Credit: Petty cash. $94

Being cash paid for office supplies

2. Debit:Merchandise inv. $170

Credit: Petty Cash. $170

Being cash paid for merchandise inventory

3. Debit: Miscellaneous exp. $43

Credit : Petty cash. $43

Being cash paid for miscellaneous expenses.

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Answer:

C. phase out all trade and tariff barriers among​ Canada, Mexico, and the U.S

Explanation:

The North American Free Trade Agreement (NAFTA)

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As state on "C" It result in the elimination or reduction of barriers to trade and investment between the countries.

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But NAFTA will keep working until this new agreement is finished.

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Suppose you face a choice between a certain income of $2,000, or a 50-50 chance of income of $1,000 or $3,000. Suppose you prefe
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Solution :

The risk averse is the person who wishes to reduce the uncertainty attached to the money.

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(0.5 x 1000) +(0.5 x 3000) = 2000

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Read the Leading Innovation and Change: Best Practices Case Study and answer the following in the Lesson Forum: What elements of
4vir4ik [10]

The correct answer to this open question is the following.

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This case refers to the challenges faced by an organization when it is time to innovate. Many members want to innovate but the culture of the company or the lack of proper leadership from managers often hinders the innovation efforts of the company.

So some of the elements of Kotter's Eight Stages of Leading Change that were included in the case were the following.

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Irina-Kira [14]

Answer:

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Commercial Division  $30,000

Explanation:

To measure divisional income consider only those items attributable to a particular division.

Retail Division

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<em>Less</em> Cost of Sales                                                       (1,300,000)

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<em>Less</em> Controllable Fixed Cost :

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Allocated Central Cost (2,750/4,000×$320,000)     (220,000)

Divisional Profit Contribution                                       480,000

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Sales                                                                              1,200,000

<em>Less</em> Cost of Sales                                                        (800,000)

Controllable Contribution                                              400,000

<em>Less</em> Controllable Fixed Cost :

Selling expenses                                                          (150,000)

Allocated Central Cost (1,250/4,000×$320,000)      (220,000)

Divisional Profit Contribution                                         30,000

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