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denis23 [38]
3 years ago
15

Waupaca Company establishes a $440 petty cash fund on September 9. On September 30, the fund shows $188 in cash along with recei

pts for the following expenditures: transportation costs of merchandise purchased, $44; postage expenses, $54; and miscellaneous expenses, $144. The petty cashier could not account for a $10 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $485.
Business
1 answer:
Simora [160]3 years ago
6 0

Answer:

September 9, petty cash fund is established

Dr Petty cash 440

    Cr Cash 440

September 30, petty cash fund expenses

Dr Merchandise inventory 44

Dr Postage expenses 54

Dr Miscellaneous office expenses 144

Dr Cash short and over 10

    Cr Petty cash 252

September 30, petty cash fund reimbursement

Dr Petty cash 252

    Cr Cash 252

October 1, petty cash fund increased to $485

Dr Petty cash 45

    Cr Cash 45

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Explanation:

For this case we have the following data given:

Number of respondents that they strongly agree with the statement = 44

Number of respondents that they somewhat agree with the statement = 130

Number of respondents that they somewhat disagree agree with the statement = 165

Number of respondents that they strongly disagree agree with the statement = 741

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Do the responses for this statement provide categorical or quantitative data?

For this case we have quantitative data since we have frequencies per each category.

Part b

Would it make more sense to use averages or percentages as a summary of the responses for this statement?

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Part c

What percentage of respondents strongly agree with allowing drivers of motor vehicles to talk on a hand-held cell phone while driving?

First we need to calculate the total for the frequencies:

Total = 44+130+165+741= 1080 respondents

For this case we can calculate the percentage like this:

\% Strongly_{agree} = \frac{44}{1080} *100 =4.07\%

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