Answer:
September 9, petty cash fund is established
Dr Petty cash 440
Cr Cash 440
September 30, petty cash fund expenses
Dr Merchandise inventory 44
Dr Postage expenses 54
Dr Miscellaneous office expenses 144
Dr Cash short and over 10
Cr Petty cash 252
September 30, petty cash fund reimbursement
Dr Petty cash 252
Cr Cash 252
October 1, petty cash fund increased to $485
Dr Petty cash 45
Cr Cash 45
Complete question:
Assume the following general flow of documents in an accounting system. Reply to the following question:
"Source Documents --> Journals --> Ledgers"
The auditors are concerned about source documents that reflect valid transactions that have not been recorded in the journals. Which procedure would be most effective?
(1) Trace from source documents to journals.
(2) Vouch from journals to source documents.
Either (1) or (2).
Answer:
(1) Trace from source documents to journals.
Explanation:
Tracing is the method of tracking the transaction back to the source document in accounting records. Transaction failures are monitored and auditors are often used to ensure whether transactions have been properly reported.
Tracing relates to the compilation and the follow-up to the record of an financial transaction (the source document).
Tracing checks to see that the transactions that happened in the financial reports are registered. Therefore it would be most effective to translate "Trace documents from source into journals."
Answer:
Democratic leadership style
Explanation:
She can develop a democratic leadership style within her which can help her accomplish her tasks as a manager and also help her inculcate this very leadership style which can be beneficial for her to go higher the ladder in organizations management.
Democratic leadership style would help her show the inexperienced employee some route out to get skilled and follow subordinates to improve work. Collaborative working with the employees provides managers with much needed team dynamics. Also, democratic leadership styles makes managers gather much needed skills which are essential for the leaders of the organization.
So people will want to buy it. The owner will still gain money but not as much if the products had sold to begin with
Windsor's gross profit for the month is:C. $1520.
<h3>Gross profit</h3>
First step
January purchase:
Purchase= 130 - (210 - 130)
Purchase=130-80
Purchase= 50 units
Sales revenue= (260 + 50) x 9
Sales revenue=310×9
Sales revenue= $2,790
Second step
Cost= (260 x 4) + (50 x 4.60)
Cost=1,040+230
Cost= $1,270
Third step
Gross profit:
Gross profit= 2,790 - 1,270
Gross profit= $1,520
Therefore the correct option is C.
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