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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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Indicate whether each of the following transactions represents an increase in net exports, a decrease in net exports, an increas
iris [78.8K]

Answer:

(a). A worker at a Sony plant in Japan buys some Georgia peaches from an American farmer.

-<u> Increase in exports while no change in imports</u>.

(b). The Sony pension fund buys a bond from the U.S. Treasury.

- <u>Decrease in a net outflow of capital. Thus, it would be considered as a negative inflow/outflow</u>.

(c). An American investor buys a controlling share in a South Korean electronics firm.

- <u>Increase in Net Capital outflow for the U.S</u>.

Explanation:

Exports are described as the selling of domestic goods to a foreign country while Imports are characterized as the process of bringing in foreign goods to the domestic country. And Capital outflow is defined as the exact flow of funds from domestic to foreign and foreign to the domestic country.

In the first case, the purchase reflects a rise in exports as the domestic product is sold to the foreign country. In the second situation, the net outflow of the capital would decreases as it demonstrates a foreign purchase of a domestic asset. In the third example, the American investors' purchase of a South Korean firm demonstrates a domestic purchase of a foreign asset and thus, the net capital outflow would rise.

7 0
3 years ago
Wilderness Fanatic, a manufacturer of outdoor goods, is willing to supply 1000 of its Blue Thrash tandem kayaks when the price p
liraira [26]

1) let P represent Price, and since the dependency is linear, the supply equation will take the following form:

A) Y- Y_{1\\} =  (\frac{Y_{1} -Y_{2} }{P_{1} -P_{2} } ) (P_{1} -P_{2} )

⇒ Y - 1,000 = (\frac{-250}{-100} ) (P-690)

⇒ Y - 1,000 = \frac{5}{2} (P-690) = (\frac{5}{2})P - 345

⇒ Y = (\frac{5}{2})P + 1,000- 345

⇒ Y = (\frac{5}{2})P + 655, therefore,

P = (\frac{2}{5}) (Y-655)

B) When Y = 1,130, the price would be:

⇒P =   \frac{2}{5} (1,130 - 655)

⇒ P =  \frac{2}{5} (485)

Therefore:

P = $194


See the link below for more supply related questions:
brainly.com/question/2822773

 

5 0
2 years ago
The general relationship between spot and forward exchange rates is specified by a concept called interest rate parity. It speci
elena-s [515]

Answer: -2.55%

Explanation:

The formula to calculate Forward Rate is:

Forward Rate = Spot rate X \frac{1 + I_{O} }{1 + I_{D} }

where I_{O} is the Interest rate of the overseas country and

I_{D} is the Interest rate of the domestic country

$0.0052 = 0.005 X  \frac{1 + 0.0135 }{1 + I_{D} }

$0.0052 X {1 + I_{D} } =  0.005 X  1.0135

$0.0052 X {1 + I_{D} } =  0.0050675

{1 + I_{D} } =  \frac{0.0050675}{0.0052}

{1 + I_{D} } =  0.9745 - 1

{I_{D} } =  - 0.02548  

The yield on 180-day risk-free securities in the United States is -2.55%

8 0
3 years ago
Ramkissoon Midwifery's cost formula for its wages and salaries is $2,060 per month plus $442 per birth. For the month of July, t
OlgaM077 [116]

Answer:

option (a) $2,052 U

Explanation:

Data provided in the question:

Ramkissoon Midwifery's cost formula for its wages and salaries

= $2,060 per month + $442 per birth

Total number of births = 117

Actual births = 114

Actual wages and salaries for the month = $54,500

Now,

Spending variance =  standard cost - Actual cost

or

= ( $2,060 × 1 ) + ( $442 × 114 ) - $54,500

= $2,060 + $50,388 - $54,500

= - $2052 or $2,052 U

Hence,

The answer is option (a) $2,052 U

6 0
3 years ago
Solemon Company has total fixed cost of $15,000, variable cost per unit of $6, and a price of $8. If Solemon wants to earn a tar
mojhsa [17]

Answer:

If Solemon wants to earn a targeted profit of $3,600, the number of units must be sold are 9,300 units.

Explanation:

In Solemon Company:

Contribution margin per unit = Sales price – Variable cost per unit = $8-$6=$2

The number of units must be sold to meet the target profit figure are calculated by using following formula:

The number of units must be sold = (Total fixed cost + Targeted profit) / Contribution margin per unit.

In there: Total fixed cost are $15,000

Targeted profit are $3,600

The number of units must be sold = ($15,000 + $3,600)/$2 = $18,600/$2 = 9,300 units.

8 0
3 years ago
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