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Alika [10]
3 years ago
14

XYZ Co. decided to create a petty cash fund. They estimated that $100 would be needed in the fund. Demonstrate the correct journ

al entry to create the account by choosing the correct action from those below. Petty Cash is credited for $100. Miscellaneous Expense is debited for $100. Cash is debited for $100. Petty Cash is debited for $100.
Business
1 answer:
ra1l [238]3 years ago
4 0

Answer:

Petty cash is debited for $100

Explanation:

Petty cash is a small amount of fund which is kept in the business for day to day expenses. Cash is issued from this fund for daily small expense which is not appropriate to withdraw from the bank by check.

Journal Entry will be as follow

Dr. Petty cash $100

Cr. Cash          $100

Cash is transferred from cash account to petty cash account, both of these are asst account and have a debit balance. Tot increase the petty cash account balance it is debited and to decrease the cash account balance it is credited.

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McLeod, Inc. incurred fixed costs of $300,000 and variable costs of $200,000 for total costs of $500,000 when 59,000 units are p
Ad libitum [116K]

Answer:

$3.389

Explanation:

Data provided as per the question below

Fixed cost = $300,000

Variable cost = $200,000

Total cost = $500,000

Units produced = 59,000

The computation of variable cost per unit is shown below:-

Variable cost per unit = Variable cost ÷ Units produced

= $200,000 ÷ 59,000

= $3.389

Therefore we applied the above formula.

3 0
3 years ago
Traditional savings account typical minimum balance
Gwar [14]

Answer:

click the image

Explanation:

I hope it help.

4 0
3 years ago
What was the ratio of per capita income in each of the following countries to that in the United States in the year 2010:
svet-max [94.6K]

Answer:

For   Countries (per capita)          United States of America (per capita)

<u> Ethiopia: </u>        

$380                                               $48,468

<u>Mexico:    </u>                                      

$9,271                                             $48,468

<u>India:</u>

$1,358                                             $48,468

<u>Japan:</u>

$44,508                                          $48,468

Explanation:

Ratio per Capita also known as Gross Domestic Product per Capita (GDP Capita) is the monetary measure of the market value of all the final goods and services produced in a specific time period within the country in view. <em>It is useful for comparing national economies of different countries on the international market.</em>

3 0
3 years ago
Bonita Corporation had net sales of $2,409,200 and interest revenue of $38,100 during 2020. Expenses for 2020 were cost of goods
____ [38]

Answer:

net income: $ 451,010

EPS:             $           6.32 per share

Explanation:

net sales                   2,409,200

cost of good sold     (1,464,600)

gross profit:                  944,600

operating expenses:

selling expenses         (284,000)

operating income         660,600

non operating:

interest revenue              38,100

interest expense           (54,400)

non operating expense (16,300)

earning before taxes:     644,300

tax expense:  30%          193,260

net income                      451,010

shares outstanding          71,390

Earning per share: 451,010/71,390 = 6,31755

4 0
3 years ago
What do you need to file your taxes?
Burka [1]

Answer:

w-2, Form 1040, and possibly Schedule (1... etc. )

Explanation:

3 0
2 years ago
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