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Liula [17]
3 years ago
13

Havermill Co. establishes a $250 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei

pts on that date represent $73 for Office Supplies, $137 for merchandise inventory, and $22 for miscellaneous expenses. The fund has a balance of $18. On October 1, the accountant determines that the fund should be increased by $50. The journal entry to record the reimbursement of the fund on September 30 includes a:
Business
1 answer:
kenny6666 [7]3 years ago
5 0

Answer:

Given that,

Petty cash fund on September 1 = $250

Office Supplies = $73

Merchandise inventory = $137

Miscellaneous expenses = $22

Fund has a balance = $18

When Petty Cash fund is reimbursed,

the expenses incurred through Petty Cash are recorded by debiting those expense.

Therefore, all the expenses incurred to be debited from the accounts.

Hence, the journal entry to record the reimbursement of the fund on September 30 includes a debit of Office Supplies for $73.

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Mr. Hudson notes that if he produces 10 pairs of shoes per day, his average fixed cost (AFC) is $14 and his marginal cost is $8;
zalisa [80]

Answer:

Average fixed cost for 20 units = $7

Explanation:

<em>The fixed costs are cost are expenditures that do not vary with the activity level within a given range. Unlike variable costs, fixed costs are tend to be unaffected in the short run by amount of production work done or service rendered.</em>

The units produced will not have an impact on the total fixed costs but rather on the average fixed cost. The average fixed cost would become lower as the units produced increases.

Average fixed cost = Total fixed cost / Total units produced.

Hence , Total fixed cost = Average fixed cost × units produced

DATA

AFC - $14

Units - 10 units

Total fixed cost = 10 × 14 = $140

Average fixed cost for 20 units =Total fixed cost / Number of units

140/20 = $7

Average fixed cost for 20 units = $7

3 0
3 years ago
Andrea is interested in medical science and wants to be a doctor. Her grades in science are impressive. Which CTSO should she jo
Harlamova29_29 [7]

Health Occupations Students of America.


4 0
3 years ago
Read 2 more answers
Hector would like to buy a new pair of soccer cleats. Hector prefers Adidas to Puma brand soccer cleats. But Hector chooses to b
oksano4ka [1.4K]

Answer: Option (A) is correct.

Explanation:

It was given that consumer prefers Adidas to puma brand soccer cleats but he buys puma brand soccer cleats. This is only because of the price theory and rational consumer choice. We know that a rational consumer will choose a product with a lower price. Both puma and Adidas brand soccer cleats are substitutes, thus, if the price of puma cleats is lower than the Adidas cleats then he should prefer puma brand soccer cleats.

3 0
3 years ago
According to the producer price index database maintained by the Bureau of Labor Statistics, the average cost of computer equipm
Alika [10]

Answer:

A.

2015 37.7

2016 12.9

B. Yes

Explanation:

Computation of the times interest earned ratios for 2016 and 2015

First step is to find the EBIT

EBIT: 2016 $ 2015 $

Gross profit 44,500 58,400

Less Selling, General and Administrative expenses (36,900) (38,800)

EBIT 7,600 19,600

Second step is to compute the times interest earned ratios for 2016 and 2015 using this formula

Time interest earned = EBIT / Interest expense

Let plug in the formula

Time interest earned 2016 2015

EBIT $7,600 $19,600

÷Interest expense $590 $520

=Time interest earned 12.9 37.7

Therefore the Time interest earned will be :

2015 37.7

2016 12.9

2. Yes Computer Tycoon generate sufficient net income in both 2015 and 2016 before taxes and interest in order to cover the cost of debt financing.

8 0
3 years ago
The following bond was quoted in The Wall Street Journal:
lisov135 [29]

If Five bonds were purchased yesterday, and 5 bonds were purchased today. How much more that the 5 bonds cost today is: $75.

<h3>Cost of bonds today</h3>

Using this formula

Bond Yield =Total annual interest of bond / Total current cost of bond at closing

First step is to calculate the Closing bonds

Closing bonds=(96.875 x 10)× 5 bonds

Closing bonds= $968.75 × 5 bonds

Closing bonds= $4,843.75

Second step is to calculate the Next day cost of bonds

Next day cost of bonds=[(96.875 + 1.50) x 10]× 5 bonds

Next day cost of bonds = $983.75 × 5 bonds

Next day cost of bonds= $4,918.75

Third step is to calculate the Cost of bonds today

Cost of bonds today=$4,918.75 - $4,843.75

Cost of bonds today = $75

Therefore If Five bonds were purchased yesterday, and 5 bonds were purchased today. How much more that the 5 bonds cost today is: $75.

Learn more about cost of bonds today here:brainly.com/question/25596583

#SPJ1

6 0
1 year ago
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