1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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)

You might be interested in
In the late 1990s "mad cow" disease caused people to buy less beef. It also caused the EU to ban imported British beef and the B
Bingel [31]

Answer:

Price of British beef falls initially, but regains some of its losses. Quantity sold falls.

Explanation:

British beef represents a large portion of the total European beef market, so a ban on British beef imports will initially cause the price of British beef to decrease a lot, but it will also increase the price of other European beef. This price shake up will eventually lead to a recovery of the price of British beef, since not all the cows were sick, but the most negative impact was not only on the price decrease but on the decrease in exports. Obviously a European ban on imported British beef will cause a dramatic decrease in the quantity sold.

3 0
3 years ago
A manufacturing company hires only welders who have completed a formal
BartSMP [9]

Answer: An apprenticeship

Explanation: Pretty sure that other person had a stroke

5 0
3 years ago
Kim works for a clothing manufacturer as a dress designer. She travels to New York City to attend five days of fashion shows and
Anuta_ua [19.1K]

Answer and Explanation:

a. The computation of the amount deducted as if there is no reimbursement is

= Airfare charges + lodging for 5 days + meals for 5 days at 50% limit + full airport transportation

= $1,500 + $1,920 × 5 days ÷ 8 days + $1,440 × 5 days ÷ 8 days × 50% + $120

= $1,500 + $1,200 + $450 + $120

= $3,270

The unreimbursement travel expenses for an employee is 2% of adjusted gross income

b. The tax treatment in case of the independent contractor

= Airfare charges + lodging for 5 days + meals for 5 days at 50% limit + full airport transportation

= $1,500 + $1,920 × 5 days ÷ 8 days + $1,440 × 5 days ÷ 8 days × 50% + $120

= $1,500 + $1,200 + $450 + $120

= $3,270

It would remain the same in case of the independent contractor also.

3 0
3 years ago
A situation in which some resources are NOT fully utilized is represented in a
svp [43]
The production would be a my a point inside the curve. The curve shows the possibility of producing with all possible materials so inside the curve is representative of one or more of the resources not being used to its full capacity.
6 0
3 years ago
A company has a unit contribution margin of $80 and a contribution margin ratio of 50%. what is the unit selling price?
lora16 [44]

If a company has a unit contribution margin of $80 and a contribution margin ratio of 50%. Then its unit selling price is $160 therefore option (d) is the correct answer.

Contribution margin, or dollar contribution in keeping with the unit, is the selling fee in step with the unit minus the variable price in line with the unit. "Contribution" represents the portion of sales that isn't eaten up by variable prices and so contributes to the coverage of fixed fees. The contribution margin is computed because of the promoting charge per unit, minus the variable value according to the unit. Additionally known as greenback contribution per unit, the measure indicates how a specific product contributes to the general income of the business enterprise.

To calculate the unit selling price use the formula

Unit selling price = contribution margin / contribution margin ratio

Unit selling price = $80 / 50%

Unit selling price = $160

Therefore option d) $160 is the correct answer

The contribution margin ratio of a business is the same as its revenue much less all variable fees, divided by means of its sales. It represents the marginal gain of producing one more unit.

Learn more about the Contribution margin here brainly.com/question/24881206

#SPJ4

3 0
2 years ago
Other questions:
  • Question Help The following information pertains to the Flying Fig​ Corporation: Total Units for information given ​7,000 Fixed
    13·1 answer
  • Which one of the following is NOT one of the four essential elements of any project? a. Common project vocabulary b. Project tea
    15·1 answer
  • Revenue is traditionally recognized in the accounting records when A. Cash is received. B. Services are rendered. C. It's incurr
    12·1 answer
  • The following information is available for Harrison’s Hot Dogs: Actual production 12,320 packages, Budgeted production 12,500 pa
    6·1 answer
  • True or false
    15·1 answer
  • For Waterway Industries, the predetermined overhead rate is 70% of direct labor cost. During the month, $400000 of factory labor
    15·1 answer
  • Mike takes a card out of his wallet at the grocery store and swipes it to pay for his groceries. What did Mike use?
    13·2 answers
  • The following lots of a particular commodity were available for sale during the year: Beginning inventory 5 units at $61 First p
    8·1 answer
  • Integrating management theories (Lead)
    5·1 answer
  • For price discrimination via coupons to be successful, it must be TRUE that:
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!