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Pepsi [2]
3 years ago
5

Paloma Company establishes a $200 petty cash fund on Jan 1. On January 8, the fund shows $107 in cash along with receipts for th

e following expenditures: postage, $39; transportation-in, $12; delivery expenses, $14; and miscellaneous expenses, $28. Palmona uses the perpetual system in accounting for merchandise inventory.
Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $350 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3.
Business
1 answer:
Tanya [424]3 years ago
6 0

Answer:

(1) establish the fund on January 1,

  • Dr Petty cash fund 200
  •     Cr Cash 200

(2) reimburse it on January 8

  • Dr Postage expenses 39
  • Dr Transportation expenses 12
  • Dr Delivery expenses 14
  • Dr Miscellaneous expenses 28
  •     Cr Cash 93

(3) both reimburse the fund and increase it to $350 on January 8, assuming no entry in part 2.

  • Dr Petty cash fund 150
  • Dr Postage expenses 39
  • Dr Transportation expenses 12
  • Dr Delivery expenses 14
  • Dr Miscellaneous expenses 28
  •     Cr Cash 243

The only difference between part 2 and 3 is that the Petty cash fund is increased by $150, and cash decreases by $243 instead of $93.

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g100num [7]

Answer:

Liquidity

Explanation:

Liquidity is the degree to which an asset can be converted to cash.  Assets that can easily be converted are described as liquid assets and include stocks and bonds.

Illiquid assets are not easy to sell. These assets may take a long time to sell or may be sold at a much cheaper price than the purchase price in order to make a quick sale. These include real estate, motor vehicles etc.

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3 years ago
You want to invest in a project in Canada. The project has an initial cost of C$828,000 and is expected to produce cash inflows
tamaranim1 [39]

Answer:

C$24,650

Explanation:

initial cost C$828,000

net cash flows for years 1, 2 and 3 C$355,000

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the net present value in C$ = C$355,000/1.12 + C$355,000/1.12² + C$355,000/1.12³ - C$828,000 = C$316,964 + C$283,004 + C$252,682 -  C$828,000 = C$24,650

Since we are asked to determine the NPV in Canadian dollars, all we need to do is carry out the same calculations as if they were any other currency. We do not need to make any adjustments due to the exchange rate between US dollars and Canadian dollars.

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3 years ago
Suppose that the rural part of a country is hit by a major earthquake
stiv31 [10]

Answer:

(a) How this episode is likely to affect the economic well-being of people in the country

In the short-run, there will be an increase in labor demanded, increasing jobs to build homes and repair the damage caused by the earthquake. In the long-run, things will begin to go back to normal.

(b) How this episode is likely to affect the economy’s measured GDP

In this case, GDP measurements will shift causing less of an input in private spending and an increase in government spending due to subsidies to increase home-building.

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The Nordstrom department store chain emphasizes the great lengths to which it goes in customer service. In fact, when it moves i
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Answer:

21

Explanation:

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That's just how they are lol

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