All categories

3 years ago

A $100 petty cash fund has a cash of $40 and valid receipts for $60. The entry to replenish the fund would include a:

Business

1 answer:

miss Akunina [59]3 years ago

6 0

Answer:

A credit to cash account and a debit to petty cash.

Explanation:

In order to replenish the petty cash the entry must credit cash and debit petty cash while keepin a log of the expenses against the receipts.

You might be interested in

Assume that bananas cost $0.50 in 2002 and $1 in 2007, whereas pears cost $1 in 2002 and $1.50 in 2007. Suppose that 4 bananas w

daser333 [38]

Answer:

Real GDP [2002] = 5, Real GDP [2007] = 6.5, Nominal GDP [2002] = 5, Nominal GDP [2007] = 11

GDP Deflator = 169, Implicit Inflation rate = 69%

Explanation:

Real GDP is the value of goods & services produced, at base year prices. Current year = 2007, Base year = 2002 here.

2002 : Qb = 4 , Qp = 3 , Pb = 0.5 , Pp = 1

2007 : Qb = 5 , Qp = 4 , Pb = 1 , Pp = 1.5

Real GDP [2002] = Pb(02) Qb(02) + Pp(02) Qp(02)

= (0.5)4 + 1(3) = 2 + 3 = 5

Real GDP [2007] = Pb(02) Qb(07) + Qp(07) Pp(02)

= 0.5 (5) + 1 (4) = 2.5 + 4 = 6.5

Nominal GDP [2002] = Pb(02) Qb(02) + Pp(02) Qp(02)

= (0.5)4 + 1(3) = 2 + 3 = 5

Nominal GDP [2007] = Pb(07) Qb(07) + Pp(07) Qp(07)

= 1 (5) + 1.5 (4) = 5 + 6 = 11

GDP Deflator [currrent year 07] = Nominal GDP (07) / Real GDP (07) x 100

(11 / 6.5) x 100 ~ 169

So, implicit inflation rate is 69%

6 0

3 years ago

A contract that is voidable

Mars2501 [29]

A voidable contract, unlike a void contract, is a valid contract which may be either affirmed or rejected at the option of one of the parties.

Reasons that can make a contract voidable include failure by one or both parties to disclose a material fact; a mistake, misrepresentation or fraud; undue influence or duress; one party's legal incapacity to enter a contract; one or more terms that are unconscionable; or a breach of contract.

4 0

3 years ago

United Machining's margin was 2% and turnover was 3.0 on sales of $60 million for the year. On the basis on this information____

Hunter-Best [27]

Answer:

B, net income for the year was $1,200,000, average assets were $20 million, ROI was 6%

Explanation:

net income is calculated by multiplying the percentage margin by the sales. We have,

(2 ÷ 100) × $60,000,000

= 0.02 × $60,000,000

= $1,200,000

To calculate the average assets, sales is divided by the turnover.

we have, ($60,000,000 ÷ 3.0)

= $20,000,000.

To calculate the ROI, margin and turnover are multiplied.

we have,

(2% × 3.0) = 6%

Cheers.

3 0

3 years ago

Certain economic principles are of considerable importance in the valuation of real estate. The principle that "no buyer will pa

Svet_ta [14]

Answer:

Substitution

Explanation:

Principle of subsitution states that no consumer should buy a product for a high price of he can get an alternative (duplicate) that is of a cheaper price.

Substitutes are alternatives that provide similar satisfaction to the customer.

When the price of one product goes up the customer has a choice of going for an alternative.

For example honey and sugar are substitutes. When the price of one goes down people will go for the cheaper alternative. This acts as a price control mechanism.

5 0

3 years ago

How much does a pediatrician make in a month?

Sati [7]

they make 135000 a month

3 0

3 years ago