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gizmo_the_mogwai [7]
3 years ago
13

At the time the $400 petty cash fund is being replenished, the company's accountant finds vouchers totaling $350 and petty cash

of $50. The vouchers include: postage, $100; business lunches, $150; delivery fees, $75; and office supplies, $25. Which of the following is not recorded when replenishing the petty cash fund?
A. Debit postage expense, $100.
B. Debit office supplies, $25.
C. Credit cash, $350.
D. Debit petty cash, $350.
Business
1 answer:
snow_tiger [21]3 years ago
7 0

Answer:

D) Debit petty cash, $350.

Explanation:

You must journalize all the expenditures as follows:

Dr Postage Expense account 100

Dr Business Lunches Expense account 150

Dr Delivery Fees Expense account 75

Dr Office Supplies Expense account 25

        Cr Petty Cash account 350

Petty cash is not an expense, so it should not be debited.

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Adkins Bakery uses the modified halfminusmonth convention to calculate depreciation expense in the year an asset is purchased or
nirvana33 [79]

Answer:

The correct answer is $9187.5.

Explanation:

According to the scenario, the given data are as follows:

Asset cost = $140,000

Residual value = $42,000

Life period = 8 years

So, Annual depreciation can be calculated by using following method:

Annual depreciation = ( Asset cost - Residual value) ÷ Life period

= ($140,000 - $42,000) ÷ 8

= $12,250

As depreciation is to be recorded till Dec.31

So, total time period = Apr - Dec = 9 months

So, Depreciation expense till Dec.31 = $12,250 × (9 ÷ 12)

= $9,187.5

Hence, Depreciation expense till Dec.31 is $9,187.5.

7 0
3 years ago
J. M. Keyes put all his money in one stock, and the stock doubled in value in a matter of months. He did this three times in a r
adell [148]

Answer:

Lucky event

Explanation:

In the investments market a true measure of market efficiency is to get a track record of positive outcome from investors over time.

The lucky event problem occurs when an investor makes a profit on investment not because of how efficient a market is or by a logical procedure, but rather by chance.

In the given scenario Keyes put all his money in one stock that doubled in 3 months.

However this was not replicated among other investors who made similar vets on other stocks and lost.

This is an exams of lucky event problem in determining market efficiency.

5 0
3 years ago
Steven's Battery Company has two service departments, Maintenance and Personnel. Maintenance Department costs of $320,000 are al
inna [77]

Answer:

From maintenance to department B will be allocated 85,333 dollars

Explanation:

We distribute maintenance over personnel and operating and then,

we distributed the accumulated in personnel over the operating department:

\left[\begin{array}{cccccc}&Maintenance&Personnel&Dep A&Deb B\\$maintenance-hours&&800&960&640\\$employes&&&160&480\\$Direct \: Cost&320,000&80,000&160,000&240,000\\$Allocate A&-320,000&106,667&128,000&85,333\\$Subtotal&&186,667&288,000&325,333\\$Allocate J&&-186,667&46,667&140,000\\$Total&&&334,667&465,333\\\end{array}\right]

<em><u>For the given question it would be:</u></em>

total maintenance-hours: 800  + 960 + 640 = 2,400

<u>allocation of maintenance:</u>

320,000 x   640/2400 = 85,333

4 0
3 years ago
Because advertising is the most visible form of marketing ________. Group of answer choices many people think of marketing and a
NARA [144]

Answer:

many people think of marketing and advertising as synonymous.

Explanation:

Advertisement or advertising refers to the promotional multimedia messages designed and developed to make the products or services of a company known to its customers and potential customers.

On the other hand, marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.

Hence, because advertising is the most visible form of marketing to everybody, many people think of marketing and advertising as being synonymous or the same.

6 0
3 years ago
I don’t know what the percentages are for each one
hram777 [196]

Answer:

thats correct

Explanation:

4 0
3 years ago
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