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spayn [35]
3 years ago
8

ournalize the entries to record the following: June 1 Established a petty cash fund of $200. 30 The amount of cash in the petty

cash fund is now $57. The fund is replenished based on the following receipts: postage, $25; entertainment, $100; and miscellaneous, $20. Record any discrepancy in the cash short and over account. If an amount box does not require an entry, leave it blank.
Business
1 answer:
Keith_Richards [23]3 years ago
8 0

Answer:

The journal entries are as follows:

(i) On June 1,

Petty cash A/c    Dr. $200

To cash                                 $200

(To record petty cash established)

(ii) On June 30,

Postage A/c             Dr. $25

Entertainment A/c   Dr. $100

Miscellaneous A/c   Dr. $20

To cash short and over A/c                 $2

To cash ($200 - $57)                           $143

(To record cash replenishment)                      

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Constant cost industries:
adoni [48]

Answer:

The correct answer to the following question will be Option C.

Explanation:

  • Constant cost industries seem to be a sector wherein the proportion of units produced as well as manufacturing costs every unit maintains the very same irrespective including its amount of manufacturing or rise in population. Which doesn't use input data in the appropriate amount to influence the rates of that same components by a shift in industry revenue.
  • This doesn't even use inputs in such amounts that perhaps the costs of that same inputs will be influenced by a change in business production.

The other choices are not linked to an industry of this kind. Therefore the clarification above is correct.

7 0
3 years ago
Suppose that you are a systems analyst on a project that involves modifying the sales order process. Since your company receives
mina [271]

Answer:

Sample size = 384.16 ≈ 385

If we increase the order size to 25,000, there will be no change in the sample size as sample size is independent of the number of orders

Explanation:

Data provided in the question:

Number of sales order received  per day = 2500

Confidence level = 95%

Certainty factor for 95% certainty = 1.96

Now,

Sample size = 0.25\times(\frac{\textup{Certainty factor}}{\textup{1 -Desired accuracy}})^2

on substituting the respective values, we get

Sample size = 0.25\times(\frac{\textup{1.96}}{\textup{1 - 0.95}})^2

or

Sample size = 384.16 ≈ 385

If we increase the order size to 25,000, there will be no change in the sample size as sample size is independent of the number of orders

3 0
3 years ago
On March 1, a business paid $3,840 for a twelve-month liability insurance policy. On April 1, the business entered into a two-ye
Helen [10]

Answer:

a. Insurance expense for the month of march

= ($3,840 / 12 months) * 1 month

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= ($3,840 / 12 months) *11 months remaining

= $3,520

c. Equipment rent expense for the month of April

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4 0
3 years ago
Match each type of adjusting entry with its definition.
NeTakaya

Answer and Explanation:

The matching is as follows:

1. Deferred revenue - the cash would be received in the present period and the same would be reported as a revenue for the future period

2. Accrued expense - It would be recorded as an expense for a present period but the cash would be paid in the future

3. Prepaid expense - The cash is paid or the obligation is to the pay the cash in the present period but the expense would be recorded in the future period

4. Accrued revenue - the revenue is recorded in the present period but the cash would be collected in a future period

8 0
3 years ago
The manager of a supermarket would like to know which of several quality problems to address a tool that would be most helpful w
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The Pareto chart's goal is to draw attention to the most significant among a group of (usually several) components. Pareto charts can be used in quality control to identify the flaws that need to be fixed first in order to see the biggest overall improvement.

It frequently reflects the most frequent causes of faults, the most prevalent kind of defect, the most common causes of customer complaints, and so forth. For each bar in the Pareto chart, Wilkinson (2006) developed a method that generates statistically based acceptability limits (akin to confidence intervals).

Learn more about the Pareto chart here:

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7 0
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