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N76 [4]
2 years ago
12

Florence’s Florals, a retail business, started a $250 petty cash fund on June 1. Below are descriptions of the transactions to e

stablish the petty cash fund, disburse petty cash during June, and replenish the petty cash fund on June 30. DATE TRANSACTIONS June 1 Issued Check 550 for $250 to establish a petty cash fund. 5 Paid $30 from the petty cash fund for office supplies, Petty Cash Voucher 1. 8 Paid $31 from the petty cash fund for postage stamps, Petty Cash Voucher 2. 15 Paid $18 from the petty cash fund for delivery service, Petty Cash Voucher 3. 22 Paid $40 from the petty cash fund to the owner, Rosa Calderon, for her personal use, Petty Cash Voucher 4. 25 Paid $30 from the petty cash fund to have the store windows washed, Petty Cash Voucher 5. 29 Paid $47 from the petty cash fund for delivery service, Petty Cash Voucher 6. 30 Issued Check 590 for $196 to replenish the petty cash fund. Required: Record the transaction to establish the petty cash fund on June 1 in a general journal. Record all transactions on a petty cash analysis sheet. Record the transaction to replenish the petty cash fund on June 30 in the general journal.

Business
1 answer:
ikadub [295]2 years ago
5 0

Answer:

See the attached for the answer and explanation

Explanation:

Petty cash fund is a fund that is set aside to pay for small expenses like stamps, transport, and others.

Find attached the full answer.

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Some club members want to increase membership dues by $7.00.Other club members want to increase them by $3.00.They have reached
Kipish [7]

Answer:

Option E (Compromising) would be the correct choice.

Explanation:

  • A conflict mediation method of consensus attempts to discover a reason to reasonably pleasing parties and from both sides of the debate.
  • When it becomes more necessary to optimize a compromise than for the conclusion to always be perfect, a deadline is fast approaching, even at such an ongoing crisis, because you need a workable measure only for the moment, such style might be suitable to be using.

The other choices aren't relevant to the situation presented. Because otherwise, that is the right answer.

5 0
3 years ago
William pays $500 premium every six months for automobile insurance with collision coverage. His deductible is $750. William cau
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<span>A collision coverage type of insurance only the covers the cost that is incurred due to damage to your car. It does not include the cost for the other car. Therefore you will have to pay the total of $1,100</span>

6 0
3 years ago
Read 2 more answers
Using the fixed-time-period inventory model, and given an average daily demand of 75 units, 10 days between inventory reviews, 2
viva [34]

Answer:

a. 863

Explanation:

Calculation for the order quantity

Order quantity = 75 x (10 + 2) + (1.64 x 8) - 50

Order quantity = (75 x 12) + (1.64 x 8) - 50

Order quantity= 900 + 13.12 - 50

Order quantity= 863.12

Order quantity = 863

Therefore the Order quantity will be 863

8 0
3 years ago
Stuart Modems has excess production capacity and is considering the possibility of making and selling paging equipment. The foll
Paha777 [63]

Answer:

Stuart Modems

a. The per-unit cost of making and selling 2,600 pagers is:

= $64.55

b. Assuming that Stuart could sell the pagers at a price of $50 each, it should still go with the plan to make and sell the pagers.  The variable cost for producing a pager is $38.60.  Each pager will make a unit contribution margin of $11.40, which will help to offset the facility-level costs since they will not be influenced by the production of the pagers.

Explanation:

a) Data and Calculations:

Production and sales volume = 2,600 pages

Unit-level manufacturing costs = $36

Total manufacturing costs = $93,600 ($36 * 2,600)

Sales commissions = $6,760 ($2.60 * 2,600)

Facility-level costs:

Depreciation on manufacturing equipment       ($76,000)

Rent on the manufacturing facility                     ($66,000)

Depreciation on the administrative equipment ($16,800)

Other fixed administrative expenses                ($79,950)

Total facility-level costs = $238,750

Overhead rate = $25.95 ($238,750/9,200)

Cost of making and selling 2,600 pagers:

Total manufacturing costs =           $93,600

Overhead costs ($25.95 * 2,600)    67,470

Sales commissions =                           6,760

Total cost of making and selling  $167,830

Unit cost = $64.55 ($167,830/2,600)

Variable cost of making and selling a unit of pager:

Unit-level manufacturing costs = $36.00

Sales commissions =                      $2.60

Total variable costs =                   $38.60

Revenue per unit =                      $50.00

Contribution per unit =                  $11.40

8 0
3 years ago
Consider two communities. In Mill Town, two families earn $10000 each, six families earn $75,000 each, and two earn $80,000 each
Nezavi [6.7K]

Answer:

a. The income inequality ratio in Mill Town is 14.06%.

b. The income inequality ratio in Pasture Town is 11.77%

c. Mill Town therefore has the more unequal distribution of income

Explanation:

Note: Kindly see the attached file for the calculation of the standard deviation and the mean.

The income equality can be determined using the Coefficient of variation (CV) for stated as follows:

IE = SD ÷ Mean ........................................... (1)

Where,

IE = Income inequality

SD = Standard deviation

In more equal societies, IE will be smaller.

We can therefore proceed as follows:

a. What is the income inequality ratio in Mill Town?

SD = 8,857

Mean = 63,000

IE = 8,857 ÷ 63,000  = 0.1406, or 14.06%

b. What is the income inequality ratio in Pasture Town?

SD = 8,353

Mean = 71,000

IE = 8,353 ÷ 71,000  = 0.1177, or 11.77%

c. Which community has the more unequal distribution of income?

Since the 14.06% income inequality ratio of Mill Town is higher than 11.77%  income inequality of Pasture Town, Mill Town therefore has the more unequal distribution of income.

Download xlsx
4 0
3 years ago
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