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forsale [732]
3 years ago
14

Petty Cash Fund Murphy, Inc., maintains a balance of $2,200 in its petty cash fund. On December 31, Murphy's petty cash account

has a balance of $223. Murphy replenishes the petty cash account to bring it back up to $2,200. Murphy classifies all petty cash transactions as miscellaneous expense. Required: What entry is made to record the replenishment of the petty cash fund? Dec. 31 (Replenish petty cash fund and recognize expenses)

Business
1 answer:
Alecsey [184]3 years ago
3 0

Answer: Check attachment

Explanation:

Miscellaneous expenses are the small and infrequent expenses which a business incurs.

Based on the question, the miscellaneous expenses is calculated as:

= $2200 - $223

= $1977

Check the attachment for further details

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Which of the following statements is false about the order in which management determines the sequencing of support department a
GaryK [48]

Answer: A. Departments with more employees are allocated earlier.

Explanation:

In the sequential method, it should be noted that a company allocates the service costs one department at a time. Once the service department cost is allocated by the accountants, the department won't get any other costs from the other service departments.

The statement that is false about the order in which management determines the sequencing of support department allocations under the sequential method of allocating support department costs to production departments is that the departments with more employees are allocated earlier.

Under the sequential method, the department costs that are allocated earlier include having an accurate cost drivers, having a higher cost, or having a large number of support.

4 0
2 years ago
Which of the following is an example of an operational risk for a company that manufactures automobiles?A. A state tax increase
Vedmedyk [2.9K]

Answer:C. Damage to completed cars held on a storage lot

Explanation:

Operational risk are the hazards and the uncertainties that are faced by companies in the day to day activities. It may be caused as a result of system failure or manufacturing components.

An example of operational risk for a company that manufactures automobiles would be damage to completed cars held on a storage lot.

7 0
2 years ago
A brand developed by a retailer and/or wholesaler that is available only in selected retail outlets is called a ________ brand.
abruzzese [7]
<span>A brand developed by a retailer and/or wholesaler that is available only in selected retail outlets is called a private-label brand. Private label branding is manufacturing of goods/ services by one company but it is known by the name of another one. The benefits of such an economical strategy are : the competition is reduced, whereas margins are increased as well as customers' loyalty.<span>
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5 0
3 years ago
Read 2 more answers
A business school with plenty of classroom space that hires adjunct faculty for a semester to meet unusually high student demand
Naily [24]

Answer:

True

Explanation:

Given that a bottleneck is a term often used in business or any operational situation to describe the situation whereby there is overcrowding at a particular point in time of operation.

And to elevate bottleneck means to solve the issue of bottleneck by making it a priority. This can be done in many ways, one of which is to improve the workspace or make arrangements for additional space or machines.

Hence, it is TRUE that A business school with plenty of classroom space that hires adjunct faculty for a semester to meet unusually high student demand for courses is an example of elevating a bottleneck.

8 0
2 years ago
hich of the following is NOT one of the six questions that comprise the task of evaluating a company's resources and competitive
Vadim26 [7]

Answer:

The correct answer is "What are the company's most profitable geographic market segments?"

Explanation:

In order to research on the companys' resource and competitive position, a researcher does not need to ask questions related to the geographic market segments.

Geographic market segments refer to the geographical spread of the market of a company.

I hope the answer is helpful.

Thanks for asking.

4 0
2 years ago
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