Answer and Explanation:
1. Petty cash Dr, 150
To Cash account $150
(Being establishment of the fund is recorded)
For recording this we debited the petty cash as it increased the current assets and credited the cash as it decreased the value of current assets
2. Office supplies $35
Entertainment expense Dr, $110
To Cash account (balancing figure) $140
To Cash short and over $5 ($150 - $35 - $110)
Here we debited the office supplies and entertainment expense as it increased the expenses and we credited the cash account as it decreased the current assets
3. Petty cash account $150 ($300 - $150)
To Cash account $150
(Being the increase in balance is recorded)
For recording this we debited the petty cash as it increased the current assets and credited the cash as it decreased the value of current assets
Same i dunno how :/ shajjabduajsjjxhcisks
Answer:
$557.55
Explanation:
Missing word <em>"The interest rate is 16% per year"</em>
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Present Value of annuity of 1 = (1-(1+i)^-n)/i
Where, i = 16%, n=15
Present Value of annuity of 1 = (1-(1+0.16)^-15)/0.16
Present Value of annuity of 1 = 5.575456
Present Value of saving of electricity expense = Annual Saving * Present Value of annuity of 1 = $100.00 * 5.575456 = $557.55. So, the amount we can afford to pay is $557.55
