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Helga [31]
3 years ago
14

Havermill Co. establishes a $280 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei

pts on that date represent $76 for Office Supplies, $143 for merchandise inventory, and $25 for miscellaneous expenses. The fund has a balance of $36. On October 1, the accountant determines that the fund should be increased by $56. The journal entry to record the establishment of the fund on September 1 is:
Business
1 answer:
dusya [7]3 years ago
3 0

Answer:

Journal entries

Explanation:

The journal entry is shown below:

On September 1

Petty cash A/c Dr $280

             To Cash A/c $280

(Being the establishment of petty cash is recorded)

For recording this journal entry we debited the petty cash and credited the cash so that the proper posting could be done

All other information i.e to be given is not relevant. Hence, ignored it

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A student looking at the timeline for a student loan on page 60 of the text makes the following​ observation: The text states th
Brrunno [24]

Answer: A. incorrect because part of each payment is to principal and to interest.​ Therefore, only a portion of the payment goes to​ interest, so the full amount should not be included when computing the rate of interest paid.

Explanation:

When paying back a loan, there are two components to the periodic interest payment. The first component is the interest payment. This is the payment to compensate the borrower for loaning out the money and is based on the interest rate and the principal left to be repaid.

The second component goes towards repaying the principal of the loan which in this case is $10,000. When computing the periodic interest rate therefore, the entire amount paid per period should not be used as it would inflate the interest rate.

6 0
3 years ago
No entries shall be allowed for district meets which are not submitted to the director on or before the ____ day before the firs
allochka39001 [22]

No entries shall be allowed for district meets which are not submitted to the director on or before the fifth day before the first day of the meet.

<h3><u>What is the role of a director?</u></h3>
  • An organization's directors play a crucial role in governance on behalf of its shareholders or members.
  • The legal obligations that each Director must uphold during their tenure are outlined in various pieces of legislation. However, Directors are also held personally responsible for exceeding 700 more laws and legal standards.
  • Each director must acknowledge and support the following standards of conduct:
  • To accept personal accountability for contributing objectively and without regard to one's own interests to the Board's choices.
  • To proactively seek out sufficient knowledge about the organization's operations.
  • To constructively contribute to the formulation of pertinent organizational policies.
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In order to encourage good governance and guarantee that each director acts in the interests of the company's stakeholders, the legally based director duties were created. 

Know more about Directors with the help of the given link:

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8 0
2 years ago
List all the source documents in accounting
devlian [24]

Answer:

Canceled checks.

Invoices.

Cash register receipts.

Computer-generated receipts.

Credit memo for a customer refund.

Employee time cards.

Deposit slips.

Purchase orders

Explanation:

That is all i think

7 0
3 years ago
Average fixed cost is equal to a.total fixed cost divided by quantity. b.marginal cost minus average total cost. c.quantity divi
Yuliya22 [10]

Answer:

e.a and d

Explanation:

Average fixed cost = Total fixed cost / quantity

Total cost is cost that does not vary with production e.g. rent

Average fixed cost is fixed cost per unit produced.

Average fixed cost = average total cost - average variable cost

I hope my answer helps you

6 0
3 years ago
Read 2 more answers
The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used for the old-fas
andreyandreev [35.5K]

Answer:

Product

Explanation:

Marketing mix involves four elements

a. product

b. price

c. place

d. promotion

The statement given indicates that the recipe of cookies focuses on the product element of marketing mix.

6 0
3 years ago
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