1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gnesinka [82]
3 years ago
13

Waupaca Company establishes a $350 petty cash fund on September 9. On September 30, the fund shows $104 in cash along with recei

pts for the following expenditures: transportation costs of merchandise purchased, $40; postage expenses, $123; and miscellaneous expenses, $80. The petty cashier could not account for a $3 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 $400.
Business
1 answer:
Xelga [282]3 years ago
6 0

Answer:

Explanation:

The journal entries are shown below:

On September 9

Petty cash A/c Dr $350

     To Cash A/c            $350

(Being fund is established)

On September 30

Merchandise inventory A/c Dr $40

Postage expense A/c Dr $123

Miscellaneous expenses A/c Dr $80

Cash shortage A/c Dr $3

      To Cash A/c        $246

(Being fund is reimbursed)

On October 1

Petty cash A/c Dr $50              ($400 - $350)

     To Cash A/c            $50

(Being fund is increased by $50)

You might be interested in
Economists know it is best to track inflation because a. It distorts prices b. It distorts statistics about overall economic per
UkoKoshka [18]

Answer:

c. it makes prices rise

Explanation:

Inflation describes a situation where there is a general increase in prices in the country. Inflation is directly linked to economic growth. A high growth rate results in high inflation.

Inflation causes prices to rise, reducing the purchasing power of money. A reduction in purchasing power means a unit of money will buy fewer items than it did previously. The government puts in measures to counter inflation to stabilize prices and prevent erosion of purchasing power.

Low inflation indicates slow economic growth, low employment, and a reduction in prices.

5 0
3 years ago
What is advertising?​
Mashutka [201]

Answer:

It’s when you convince people to buy a product, or service. Marketing is used in this.

Explanation:

3 0
3 years ago
The _____ curve represents the full employment capacity of the economy and depends on the amount of resources available for prod
julia-pushkina [17]

The Long-Run Aggregate Supply curve represents the full employment capacity of the economy and depends on the amount of resources available for production and the available technology.

<h3>What is Long-Run Aggregate Supply Curve?</h3>

The Long-Run Aggregate Supply (LRAS) Curve depicts the relationship between price level and real GDP that would exist if all prices, including nominal wages, were completely flexible. Along the LRAS, prices can move, but production cannot since it represents the output of full employment.

To learn more about LRAS visit:

brainly.com/question/27064601

#SPJ4

5 0
2 years ago
The principal offensive strategy options include all of the following EXCEPT:A.using a cost advantage to attack competitors on t
Len [333]

Answer:

All are options for offensive strategy

Explanation:

In this question, we are trying to select an option which is not in terms with the other options as regards what principal offensive strategy should be.

Now, what the term principal offensive strategy refers to is that it is a type of corporate strategy that pushes for changes within the industry. What we are trying to say is that, the principal offensive strategy pursues an agenda that is pushing for a change within the industry.

Efforts might be concerted or individual steps might be taken. Hence, various techniques or strategies are in place to be used.

Offensive strategy types includes, an end run strategy where a company does not want competition and thus explore the part of the market with little or none.

A preemptive one which seek to conform some advantages on the company as it is the first one based on demographics

Others include: an acquisition and a direct attack strategy

3 0
3 years ago
Sheridan Company signed a long-term non cancellable purchase commitment with a major supplier to purchase raw materials in 2021
stepan [7]

Answer:

Unrealized holding loss - Income (purchase commitments) $ 52,900 Dr

Estimated liability on purchase commitments ( $ 1,001,800 - $ 948,900 ) $ 52,900 Cr

Explanation:

Unrealized holding loss - Income (purchase commitments) $ 52,900 Dr

Estimated liability on purchase commitments ( $ 1,001,800 - $ 948,900 ) $ 52,900 Cr

6 0
3 years ago
Other questions:
  • Consider a household consisting of four college friends. The friends have made a commitment to live together for the next five y
    11·1 answer
  • Strong economic growth since 1960 has allowed nations like Singapore and Ireland to surpass nations such as the United Kingdom a
    8·1 answer
  • A common carrier bailee generally would avoid liability for loss of goods entrusted to its care if the goods area. Stolen by an
    5·1 answer
  • Free points <br> i am the best
    8·2 answers
  • Sunset Corp. currently has an EPS of $2.09, and the benchmark PE for the company is 18. Earnings are expected to grow at 6.5 per
    9·1 answer
  • Question 1 ____ is the process of moving the organization toward its vision.
    8·1 answer
  • 1.4 is? a. perfect square b. rational number c. irrational number d. whole numbers​
    15·1 answer
  • Use straight line (SL) depreciation to determine a. annual depreciation charge (5 points) and b. annual book values for the life
    13·1 answer
  • Florida Curtain Works is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 60% of s
    9·1 answer
  • Coronado Company received proceeds of $209000 on 10-year, 5% bonds issued on January 1, 2016. The bonds had a face value of $220
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!