Answer: The correct answer is e) $32.
Explanation:
Petty cash fund. $300
Office supplies. (80)
Merchandise inventory. (160)
Miscellaneous expenses. (20)
Cash shortage. (8)
Balance in petty cash. $32
In terms of accounting entries,
Debit Office supplies. $80
Debit Merchandise inventory. $160
Debit Miscellaneous expenses. $20
Debit Cash shortage. $8
Credit Petty cash refund. $268
In the above entries, $268 would be refunded to petty cash fund to reinstate it to $300.
Answer:
you can start a cyber cafe like modern theme of mechanism you can put there some cats there or some toy cars
Explanation:
The adjusting entry is as follows
Accrued interest expense Dr $124
To Interest payable $124
(Being the accrued interest expense is recorded)
The computation is shown below:
= Borrowed amount × interest rate × given months ÷ total number of months in a year
= $6,200 × 12% × 2 months ÷ 12 months
= $124
Answer:
Number of ATMs or bank branches near where you live, shop, work, or travel.
Explanation:
As much as possible, your bank should be near where you live, shop, or work. The proximity will be advantageous in various ways, including.
- It will reduce costs by eliminating transport expense in banking operations.
- Proximity will foster a better business relationship with the bank. There are higher chances of meeting banking officials out of the work environment, which is likely to improve the relationship.
- Should there issues that need resolution in the bank, you will be able to resolve them more quickly.
- Formal communication between you and the bank will be enhanced. Banks use hard copy documents for the majority of their official transactions. Being close to the bank will make communication faster.
