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3 years ago

Journalize the entries to record the following:

Business

1 answer:

Snowcat [4.5K]3 years ago

8 0

Answer:

March 1:

Petty Cash A/c Dr. $300

To Cash $300

(To record petty cash fund)

March 31:

Office Supplies A/c Dr. 137

Selling expenses A/c Dr. 112

To Cash ($300 - $64) $236

To Over/Short $13

(To record any discrepancy in the cash short and over account)

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What is the main goal of career and technical student organizations (CTSOs)? How do they help students achieve their goals?

blsea [12.9K]

Answer:

This is a two part question and therefore has been answered in two separate headings below.

Explanation:

<u>Main Goal of CTSOs</u>

Career and technical student organizations (CTSOs) goal is to strengthen student learning by using methods such as real-life applications, text book instructions, personal and leadership development skills.

This means that their work forms as an essential part of the classroom syllabus and guide, which in return helps to build student's career skills and views through taking part in these sessions and applying them in real life scenarios and/or work experience through Career program.

<u>Help Students to Achieve their Goals</u>

Career and technical student organizations (CTSOs) helps students achieve their goals by providing them a career path, study program and opportunities in order to gain the knowledge, skills and abilities that are needed to be successful in their career by way of CTSOs programs, events and activities.

Furthermore, they create opportunities for the students to participate in leadership level positions at local, state and national level and to take part in conferences of leadership development in order to interact with other students as wells as professionals and experienced individuals.

4 0

3 years ago

Your credit limit is $1,000 what is the max you should ever owe on this card?

elixir [45]

<span>When the financial institution or lender gives a borrower a maximum credit limit of $1,000, it means that he can only owe within that amount or spend up to that limit. Otherwise, spending more than $1,000, the borrower may face penalties or fines in addition to his regular payment. In other words, credit limit refers to the maximum amount of credit a bank extends to the client who has the capacity to pay his debt. </span>

8 0

4 years ago

Read 2 more answers

the liability created when supplies are bought on account is called an account payable ,true or false

tigry1 [53]

Answer:

True.

Explanation:

In Financial accounting, liability can be defined as the amount of money being owed by an individual or organization to another.

Simply stated, liability is a debt being owed and as such it usually has "payable" in its account title on the balance sheet.

Generally, liabilities are recorded on the right side of the balance sheet and it comprises of financial informations such as warranties, bonds, loans, deferred revenues, mortgages, account payable etc.

Current liability in financial accounting can be defined as the short-term financial obligation such as debt (account payable) that is due to be paid in cash within one (fiscal) year or one operating cycle of a company, whichever is longer.

A company's current liability comprises of the following; dividends payable, short-term debts, account payable, notes payable, interest payable, wages payable, deferred revenues, income tax payable, etc.

Basically, companies usually settles their current liabilities with current assets such as account receivables or cash, that are used up within a fiscal year.

Hence, the liability created when supplies are bought on account is called an account payable.

6 0

3 years ago

Investors require a return of 13 percent on the stock for the first three years, a return of 11 percent for the next three years

lianna [129]

Complete Question:

BenchMark, Inc., just paid a dividend of $3.45 on its stock. The growth rate in dividends is expected to be a constant 5 percent per year indefinitely. Investors require a return of 13 percent on the stock for the first three years, a return of 11 percent for the next three years, and then a return of 9 percent thereafter. What is the current share price for the stock.

Answer:

BenchMark, Inc.

The current share price for the stock is:

$43.13

Explanation:

a) Data and Calculations:

Dividend per share = $3.45

Growth rate = 5%

Investors' required rate of return = 13%

Stock value = Dividend per share / (Required Rate of Return – Dividend Growth Rate)

= $3.45/(0.13 - 0.05)

= $43.13

b) We can calculate BenchMark's current share price, by dividing the dividend per share by the investors' required rate of return after subtracting the growth rate from the required rate of return.

8 0

4 years ago

Any purchased materials that will go into the finished product are first recorded in the.

VikaD [51]

Any material purchased will be recorded in the Raw material inventory account. The option for the first blank is raw and second blank is material.

<h3>What is Inventory Account?</h3>

Inventory Account refers to the account which records all the transactions related to the stock. It records the purchased of the stocks, work in progress, closing stock, opening stock etc.

The complete question is attached below.

The raw material inventory account is where all materials that will be used to create the final product are first registered.

Learn more about raw material here:

brainly.com/question/13376768

#SPJ1

3 0

2 years ago