Answer: Please see answer in explanatory column
Explanation:
1) Journal entry to establish the fund on January 1st.
Account Debit Credit
Petty Cash $250
Cash $250
2) journal entry to record re-imbursement on January 8.
Account Debit Credit
Postage expense $43
Merchandised inventory $14
Delivery Expense $16
miscellaneous expenses, $32
Cash $105
3) journal entries to record reimbursement of the fund and increment to $300 on January 8
Account Debit Credit
Petty Cash $150
Cash $150
Petty cash increasing to $300, therefore the increased amount
$300- $250= $150
Answer:
The Decrease in expenses $360
Explanation:
Since the supplies expense is debited by $1,240 for office supplies purchased
and the office supplies on hand is $880
So, the remaining office supplies left is
= Supplies expenses debited for Office supplies purchased - office supplies on hand
= $1,240 - $880
= $360
This $360 represent that there is a decrease in expenses
B) going public
my PayPal is tiyastar pay $0.20 I’m trying to buy a $4.00 necklace for my mum
Answer:
$147,000
Explanation:
According to the historical cost principle, the assets of the company should be recorded at the purchase price or acquisition price in the financial statements
Since in the given situations many values are given with respect to the acquisition done by the seller, for tax turquoises, etc
But it is recorded at the purchase price i.e $147,000
