Well it depends on the situation
Answer:
The correct answer is letter "A": you are competing with your employer for clients
Explanation:
It is common for some individuals to have two jobs so their monetary needs can be met. However, this scenario can cause a <em>conflict of interest</em> for the employers moreover when employees find a second job in the same field of their primary job. Employers could believe those types of workers may be using the firm's client database for the other job so the employees can increase their income, which would be unethical.
Answer:
(a) January 1
Dr Petty cash $200
Cr Cash $200
B. January
Dr Phone Expense $17.50
Dr Automobile Expense 33
Dr Joseph Levine, Drawing 56
Dr Postage Expense 12.50
Dr Charitable Contributions Expense 15
Dr Miscellaneous Expense 49
Cr Petty cash 183
January 31
Dr Petty cash $183
Cr Cash $183
Explanation:
(a) Preparation of the journal entry to establish a petty cash fund
January 1
Dr Petty cash $200
Cr Cash $200
b. Preparation of the journal entry to replenish the petty cash fund.
January
Dr Phone Expense $17.50
Dr Automobile Expense 33
Dr Joseph Levine, Drawing 56
Dr Postage Expense 12.50
Dr Charitable Contributions Expense 15
Dr Miscellaneous Expense 49
Cr Petty cash 183
($17.50+33+56+12.50+15+49)
January 31
Dr Petty cash $183
Cr Cash $183
($17.50+33+56+12.50+15+49)
Answer:
The answer is B. $66,000
Explanation:
What are the items under investing activities of cash flow? - Sale and purchase of long-term assets or non-current assets. Purchase is an outflow while sale is an inflow.
The book value of the sold equipment was $55,000 and gain was $11,000. Therefore the equipment was sold for:
$55,000 + $11,000
=$66,000.
So there was an inflow of $66,000.
The $11,000 gain will be shown under operating section of the cash flow.