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Marizza181 [45]
3 years ago
9

Havermill Co. establishes a $300 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei

pts on that date represent $78 for Office Supplies, $147 for merchandise inventory, and $27 for miscellaneous expenses. The fund has a balance of $48. On October 1, the accountant determines that the fund should be increased by $60. The journal entry to record the establishment of the fund on September 1 is:
Business
1 answer:
AlekseyPX3 years ago
4 0

Answer and Explanation:

The journal entry to record the establishment as follows:

On Sep 1

Petty cash Dr $300

     To Cash  $300

(being the establishment of the fund is recorded)

Here the petty cash would be debited and cash would be credited so that the proper recording could be done

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The board of directors declared cash dividends totaling $585,000 during the current year. The comparative balance sheet indicate
Lelechka [254]

Answer:

$606,375

Explanation:

The computation of the amount of cash payments to stockholders is shown below:

= Beginning dividend payable  + cash dividend declared - ending dividend payable

= $167,625 + $585,000 - $146,250

= $606,375

We simply added the dividend declared amount and deducted the ending dividend payable to the beginning dividend payable so that the accurate amount can come.

5 0
3 years ago
On January 1, Greene Inc. issued $5,000,000, 9% bonds for $4,685,000. The market rate of interest for these bonds is 10%. Intere
skad [1K]

Answer:

b.$296,500.

Explanation:

Calculation to determine what Greene should report as unamortized bond discount

First step is to calculate the discount amount

Discount Amount= ($5,000,000 × .09) - ($4,685,000 × .10)

Discount Amount= $18,500

Now let determine the unamortized bond discount

Unamortized bond discount=$315,000 - $18,500 Unamortized bond discount= $296,500

Therefore Greene should report unamortized bond discount of $296,500

5 0
3 years ago
the audit expectation gap is caused by unrealistic user expectations. what example would not be included in an unrealistic user
Tomtit [17]

The audit expectation gap is caused by unrealistic user expectations. The auditors provides reasonable gap examples that would not be included in unrealistic user expectations.

NASBA believes the expectancy gap relating to fraud and going problems in a financial statement audit may be caused by a few factors: lack of knowledge by way of the general public as to what an audit is and what auditors do; inconsistent audit execution in these regions by some auditors due to lack of expertise.

The expectation hole exists while auditors and the public keep distinct beliefs about the auditors' obligations and obligations and the messages conveyed by way of audit reports. apparently, there's an opening between what the public expects and what it virtually receives.

Learn more about auditors here: brainly.com/question/26048609

#SPJ4

3 0
2 years ago
The Jones Company plans to issue preferred stock with a perpetual annual dividend of $5 per share and a par value of $30. If the
Sever21 [200]

Answer:

c) $25

Explanation:

<em>The value of a preferred stock is the present value of the constant dividend payable for the foreseeable future discounted at the required rate of return</em>

Price = Constant dividend/ required return

The constant dividend = Dividend rate × par value

Dividend as be given as $5 per share

requited return - 20%

So the price of the stock would be

Price = 5/0.2

= $25

7 0
3 years ago
The Incident Action Plan is prepared by General Staff from which section? A. Planning B. Operations C. Logistics D. Finance/Admi
SOVA2 [1]

Answer:

The correct answer is A

Explanation:

IAP stands for Incident Action Plan, which is defined as the organized course of the events that addresses or notices all the phases or stages of the incident control in the specified time.

It is required to completed or finished in the timer period or time frame, which allows the least amount of the action that is negative to continue.

So, this plan is made or prepared through the General Staff of the Planning section.

5 0
3 years ago
Read 2 more answers
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