1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nikitadnepr [17]
3 years ago
9

Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for th

e following expenditures: postage, $74; transportation-in, $29; delivery expenses, $16; and miscellaneous expenses, $43. Palmona uses the perpetual system in accounting for merchandise inventory.
4.
value:
3.00 points
(1) Prepare journal entries to establish the fund on January 1.
check my workreferencesebook & resources
5.
value:
3.00 points
(2) Prepare journal entry to reimburse the petty cash fund on January 8.
check my workreferencesebook & resources
6.
value:
3.00 points
(3) Prepare journal entries to both reimburse the fund and increase it to $450 on January 8, assuming no entry in part 2.
Business
1 answer:
Iteru [2.4K]3 years ago
7 0

Answer:

1. Date  Account Titles and Explanation    Debit   Credit

1 Jan     Petty cash                                         $200

                      Cash                                                     $200

2. Date  Account Titles and Explanation    Debit   Credit

8 Jan    Postage Expenses                              $74

             Merchandise inventory                      $29                  

             Delivery expense                               $16

             Miscellaneous expense                     $43

                      Cash                                                       $162

3. Date  Account Titles and Explanation    Debit   Credit

8 Jan     Petty cash                                          $250

                      Cash                                                      $250

You might be interested in
_______ is not considered to be a "developing" nation. A. Brazil B. India C. China D. Japan E. Mexico
PIT_PIT [208]

Answer:

A. Brazil

Explanation:

6 0
3 years ago
_____ contracts involve payment to the supplier for direct and indirect actual costs and often include fees.
mojhsa [17]

Cost-reimbursable contracts involve payment to the supplier for direct and indirect actual costs and often include fees.

A cost-reimbursable contract is an agreement between two parties called the contractor and the owner. Here the contractor gets the reimbursement for the cost incurred while carrying out the work as per the contract, and also gets an additional fixed fee from the company or an owner.

Here the final pricing of the contract is determined later based on the underlying deal and the actual costs it took to complete a project given to the contractor.

Hence, cost-reimbursable contracts involve payment for direct and indirect actual costs.

To learn more about cost-reimbursable here:

brainly.com/question/23183570

#SPJ4

7 0
1 year ago
Amir is a computer engineer. he occasionally works for a lazlo inc., a publishing company; however, he only works for the organi
Shalnov [3]

amir would be classified as an on-call worker.

<h3>What is on-call worker?</h3>

An on-call employee (oproepkracht) works only when you, the employer, summon them. You and your employee have agreed on this. There are various forms of on-call contracts, each with its own set of rules.

An on-call schedule (or on-call shift) is a timetable that guarantees the appropriate person is always accessible, day or night, to respond rapidly to events and outages. On-call doctors in the medical field are expected to respond to medical crises at any moment during their shift.

On call is a vital duty among many IT, developer, support, and operations teams that provide services that customers demand to be available 24 hours a day, seven days a week. Team members rotate via an on-call cycle, providing coverage around the clock or solely during normal business hours.

To know more about on-call worker follow the link:

brainly.com/question/12831236

#SPJ4

5 0
1 year ago
Amazon, the largest online retailer, has experimented with physical stores and recently bought Whole Foods. Whole Foods has almo
denpristay [2]

Answer:

to survive today, organizations need to be present in both the online and physical markets

Explanation:

So far Amazon has dominated the online space when it comes to buying products and services. But the scenario in the question makes it clear that having only one channel open to customers (online) is not sufficient.

It is necessary to diversify by having physical stores in addition to online stores.

Some consumers for example will want to examine what they are buying before paying, others will not have the patience to wait for delivery of goods. So the physical store will serve these segments of customer's.

5 0
3 years ago
d needs life insurance that provides coverage for only a limited amount of time while also paying the lowest possible premium. w
Phoenix [80]

The kind of policy is needed Level term.

With limited payment life insurance, the policyholder refrains from extending the policy to ultimately pay the premium. Instead, you pay the full cost of the policy over time. Term life insurance, also known as pure life insurance, is a type of death benefit that is paid to the policyholder's heirs over a specified period of time.

Life provides whole-life protection at a premium for 30 years. The advantage of this policy is that premiums can be carried forward for 30 years, making life insurance cheaper compared to other limited payment options. Single premium life insurance allows policyholders to make a lump sum payment instead of monthly, quarterly, or yearly payments.

Learn more about Life insurance here:-brainly.com/question/25954612

#SPJ4

6 0
1 year ago
Other questions:
  • Van Frank Telecommunications has a patent on a cellular transmission process. The company has amortized the patent on a straight
    7·1 answer
  • This private, not-for-profit organization is committed to developing and maintaining practical, customer-focused standards to he
    8·1 answer
  • Lucky lou has just won the lottery and will receive an annual payment of $100,000 every year for the next 20 years. if the annua
    13·1 answer
  • Vaughn Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1,
    5·1 answer
  • The most serious problem with aggression is that
    13·1 answer
  • Choose all that apply. Select all of the advantages of a retirement account. tax free until you withdraw money when you retire h
    9·1 answer
  • Antiques R Us is a mature manufacturing firm. The company just paid a $9 dividend, but management expects to reduce the payout b
    12·2 answers
  • A U.S. company purchased inventory on account at a cost of 1,000 foreign currency units (FCU) from a non‐U.S. company on Novembe
    8·1 answer
  • If your gross pay is $1500 each pay period, and you are paid semimonthly, what is your yearly gross pay?
    9·1 answer
  • major urban areas are the only places benefitting from the creative economies. group of answer choices true false g
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!