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Oduvanchick [21]
2 years ago
10

The petty cash fund of $200 for Tomkins Company appeared as follows on December 31, 2014

Business
1 answer:
Ilya [14]2 years ago
8 0

Answer:

Explanation:

1.

Petty Cash (200-50.6)  Dr.$149.4

Cash            Cr.$149.4

Freight In   Dr. $58.4

Postage      Dr.$40

Balloons Expense      Dr.$20

Meals Expense        Dr.$25

Cash                         Cr.$143.4  

2. Petty Cash  Dr.$50

   Bank/Cash   Cr.$50

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On January 22, Muir Corporation issued for cash 20,000 shares of no-par common stock at $30. On February 14, Muir issued at par
Juli2301 [7.4K]

Answer:

Jan 22

Dr Cash 600,000

Cr Common stock 600,000

Feb 14

Dr Cash 150,000

Cr Preferred stock 150,000

Aug 30

Dr Cash 1,350,000

Cr Preferred stock 1,250,000

Cr Paid in capital excess of par preferred stock 100,000

Explanation:

Muir Corporation Journal entries

Date Accounts Debit Credit

Jan 22

Dr Cash (20,000*30) 600,000

Cr Common stock 600,000

Feb 14

Dr Cash (3000*50) 150,000

Cr Preferred stock 150,000

Aug 30

Dr Cash (25,000*54) 1,350,000

Cr Preferred stock (25,000*50) 1,250,000

Cr Paid in capital excess of par preferred stock 100,000

8 0
3 years ago
A revenue variance is the:
IceJOKER [234]

Answer: Option C

                   

Explanation: In simple words, revenue variance refers to the difference between the revenue one expects to earn as per the budget made for a specified period of time and the revenue it actually earned in that time.

Organisations calculate revenue variance to identify the reasons they are not performing well or the qualities they are performing more than expected.

This measure helps organisation in decision making as to whether they should make changes in their process, and if so then wheat changes, or should remain as they are.

6 0
3 years ago
How much are these nails<br> have an estimate?
patriot [66]
If I had to guess I would have to say ( based on the design ) they would be around $35-$50.
8 0
2 years ago
Suppose that the total utility from consuming one unit of good X is 54 utils, the total utility of two units of good X is 74 uti
mars1129 [50]

Answer: a. 10 utils

Explanation: The marginal utility from consumption of the third unit of goods is gotten by taking the difference between the total utility derived from three units of goods and the total utility derived from two units of goods.

Total utility from three units = 84 utils

Total utility from two units = 74 utils

84 - 74 = 10 utils which is the marginal utility of the third unit.

4 0
2 years ago
At July 31, Cullumber Company has this bank information: cash balance per bank $7,310, outstanding checks $715, deposits in tran
Luba_88 [7]

Answer:

$7,900

Explanation:

In Bank reconciliation statement the balances of Bank statement and the Balance from cash register is adjusted to calculated the adjusted cash balance for reporting at the end of the period. This is due to some outstanding deposits and Payment and other experiences which makes a difference between the bank statement balance and cash register balance.

Cash balance per bank = $7,310

Outstanding checks are those check which has been issued but not been presented in the bank yet. Deposit in transit is the amount of deposit which is pending in the clearing process.

Adjusted Balance = Cash Balance per bank - Outstanding Checks + Deposit in transit = $7,310 - $715 + $1,305 = $7,900

Bank charges are already adjusted in the cash balance per bank.

5 0
2 years ago
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