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Katyanochek1 [597]
3 years ago
11

The last custodian of the petty cash fund was hospitalized and you have been asked to take stock of the fund and replenish it. W

hen you receive the fund, it has $299 in cash and receipts as follows:
Office supplies $295
Advertising 120
Transportation by Taxi 75

The petty cash fund established to have $800 in it,
Based on what you have found, what journal entry should be recorded to replenish the fund?
Business
1 answer:
Arlecino [84]3 years ago
5 0

Answer:

                               General Journal

Accounts Titles and Explanation          Debit     Credit

Office supplies                                        $295

Advertising expense                               $120

Transportation expense                          $75

<em>Cash short and over                                $11 </em>

Cash ($800 - $299)                                                 $501

(Being replenishment of fund recorded)

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Sheridan Company declared a $229000 cash dividend. It currently has 12300 shares of 4%, $100 par value cumulative preferred stoc
dem82 [27]

Answer and Explanation:

The computation is shown below:

For preferred shareholders

The dividend is

= 12,300 shares × 4% × $100

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For two years, it would be

= $49,200 × 2

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And, the total cash dividend declared is $229,000

So, the cash distribute to common stockholder is

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= $130,600

hence, the cash distribute to common stockholder is $130,600

5 0
3 years ago
Medical Products Inc. has just developed a new home examination kit that allows customers to perform most of the functions a doc
pochemuha

Answer:

introductory stage of product life cycle

Explanation:

Introductory stage of product life cycle -

It is refers to as the very first stage in the life cycle of the product , in this very stage the goods or services are completely new in the market and the sale is hence very slow , is referred to as the introductory stage of product life cycle  .

It is a very crucial stage for the product in order to publicize the product in order to increase the sale of the product to earn profit .

Hence , from the given scenario of the question ,

The correct answer is  introductory stage of product life cycle .

4 0
3 years ago
Luther's Operating Margin for the year ending December 31, 2008 is closest to: Group of answer choices 0.5% 0.7% 5.4% 6.8%
svlad2 [7]

Answer:

the operating margin is 5.4%

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The computation of the operating margin is shown below:

As we know that

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= $31.3 ÷ $578.3

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Hence, the operating margin is 5.4%

It could be determined by dividing the operating income from the sales

3 0
2 years ago
The bullet points beneath a one-line mission statement often serve as A. value statements to show how the mission will be achiev
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Um, Hello there. The answer to your question is probably going to be.
<span>


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D. a reminder of the one-line statement.</span>
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3 years ago
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What is the difference between vested funds and non-vested funds in a 401(k) plan?
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