Joana volunteers to deliver a last-minute presentation on behalf of her team. Which quality is Joana demonstrating?

Feb. 2 Wrote a $350 check to establish a petty cash fund. 5 Purchased paper for the copier for $14.55 that is immediately used.

Nataly [62]

Answer:(1) Dr: petty cash $350, Cr: Cash $350, (2) Total delivery expense $16, Total Milleage expense $71, Total postage expense $65.55, Total merchandise inventory( Transportation -in) $42.4, Total office supplies $81.32, Petty Cash Balance $204.67 (3) a) Dr : Expenses $326.29, Cr : Cash $326.39 (b) Dr: petty cash $490, Cr: Cash $490

Explanation:

Journal entry to establish the petty cash fund

Dr : petty cash $350

Cr: : Cash $350

Journal entry to record the reimbursement

Dr : Expenses $326.39

Cr: Cash $326.39

Journal entry to record the increase in fund amount

Dr:petty cash $490

Cr: cash $490

Total delivery expenses $16

Total mileage expenses $71

Total postage expenses $65.55

Total merchandise inventory (Transportation -in) $42.4

Total office supplies $81.32

Amount received for reimbursement $326.39

Petty Cash Balance $204.67

7 0

3 years ago

Michael Chang buys only tennis rackets during a particular year. During the year in question, the price of all goods rises by 10

Zolol [24]

Answer:

Michael does not experience inflation because he only buys Tennis rackets

Explanation:

Inflation is defined as increases in price per unit price.

It is the prolonged increase in the price of goods and services caused by devaluation of currency , demand -pull or cost - push. While a certain degree of inflation can be beneficial to a thriving economy , it can become a threat if it becomes larger.

One of the direct impact of inflation is rise in price of goods and services.

As the price of rackets was not affected by the inflation , that means that Michael was not affected by the inflation.

6 0

2 years ago

A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's

ruslelena [56]

Answer: (B) Reference group

Explanation:

A reference group is basically refers to the individual and the group that is specifically used for the comparison purpose. It is one of the type of group that share a common attitude, beliefs and the behavior for making the various types of decisions.

According to the given question, a shoe's company is one of the most popular music band as the products sales of the company significantly increase. Then, from the fans point of views the band is refers to the reference group.

Therefore, Option (B) is correct answer.

4 0

3 years ago

Vore Corp. bought equipment on January 2, 20X4 for $200,000. This equipment had an estimated useful life of five years and a sal

Harrizon [31]

Answer:

The accumulated depreciation balance at December 31, 20X5 should be: $91,800

Explanation:

Under the straight-line method, useful life is 5 years, so the asset's annual depreciation will be 20% of the Depreciable cost.

Depreciable cost = Total asset cost - salvage value = $200,000 - $20,000 = $180,000

Depreciation was computed by the 150% declining balance method. Depreciation rate is 30%.

Depreciation for the year of 20X4 = 30% x $180,000 = $54,000

At the beginning of the second year, the Depreciable cost's book value = $180,000 - $54,000 = $126,000

Depreciation for the year of 20X5 = 30% x $126,000 = $37,800

The accumulated depreciation balance at December 31, 20X5 = $54,000 + $37,800 = $91,800

7 0

3 years ago

Interest rates and decisions

svetoff [14.1K]

Answer:

a. No, the firm needs to take the volatility of short-term rates into account.

Explanation:

Short term interest rates are more volatile than the long term interest rates. If the company chooses to finance its operations solely from short term financing than it will need to incorporate the affect of volatility in the short term interest rates to identify the net returns. The volatility should be calculated with the risk factor and required rate of return of the funds.

4 0

3 years ago