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
ratelena [41]
3 years ago
6

Havermill Co. establishes a $410 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei

pts on that date represent $89 for Office Supplies, $169 for merchandise inventory, and $38 for miscellaneous expenses. The fund has a balance of $114. On October 1, the accountant determines that the fund should be increased by $82. The journal entry to record the establishment of the fund on September 1 is:
Business
1 answer:
Amanda [17]3 years ago
4 0

Answer and Explanation:

The journal entry for establishing the fund as on September 1 is shown below:

On September 1

Petty cash Dr $410

     To cash $410

(Being establishment of fund is recorded)

Here petty cash is debited as it increased the asset and credited the cash as it decreased the asset

Therefore the same is to be considered

You might be interested in
Find the total cost, rounded to the nearest cent, of 3.9 pounds of corned beef at $5.49 per pound and 4.6 pounds of pastrami at
Vanyuwa [196]

Answer: $44.18

Explanation:

Given the following :

Cost of corned beef per pound = $5.49

Cost of pastrami per pound = $4.95

Pound of corned beef = 3.9 pounds

Pound of pastrami = 4.6 pounds

Therefore ;

Total cost = (cost per pound × number of pound)

Total Cost of corned beef = 3.9 × $5.49 = $21.411

Total cost of pastrami = 4.6 × $4.95 = $22.77

Total cost of corned beef and pastrami :

$21.411 + $22.77 = $44.181

$44.18

8 0
4 years ago
The ratio of cash to monthly cash expenses can be used to _____. a.assess how long a company with negative cash flows from inves
sp2606 [1]

Answer:

The correct option is C. which is <em>assess how long a company with positive cash flows from financing activities can continue to operate</em>

Explanation:

<em>The ratio of cash to monthly cash expenses can be used to make assessment of a company whether how long it can determine without additional financing and positive cash flows generated from operations.</em>

The formula of The ratio of cash to monthly cash expenses

= Cash s of year end ÷ Monthly Cash Expenses

5 0
4 years ago
Discuss the effects of the hard lockdown on Eskom's operations?
ICE Princess25 [194]

The effect of the hard lockdown on Eskom's operations was that the parliamentary committees had to leave officials in Pretoria.

<h3>What were Eskom's operations?</h3>

Eskom's operations refer to the operation of the Electricity Supply Commission in South Africa.

When the hard lockdown was placed during the pandemic on Eskom's operations in South Africa, this led to parliamentary committees leaving the officials in Pretoria because they believed that having digital meetings will be better than face-to-face.

hence, The effect of the hard lockdown on Eskom's operations was that the parliamentary committees had to leave officials in Pretoria.

learn more about Eskom's operations:

brainly.com/question/3785658

#SPJ1

8 0
2 years ago
Suppose the United States decides to reduce export subsidies on U.S. agricultural products, but it does not decrease taxes or in
Ann [662]

Answer:

1. Decrease, increase

2. Supply curve shifts to the right

3. NCO will rise

4. Real exchange rate falls and net exports rises

Explanation:

Fiscal deficit occurs when government spending's exceed government revenue. When the government lowers its export subsidies while keeping other spending's and taxes unchanged, it leads to a fall in the fiscal deficit.

1. However, the reduction in expenditure on export subsidies <em>decreases</em> the fiscal deficit, thereby <em>increases </em>public savings.

2. As public savings increase it leads to an increase in funds available to be loaned out. So the <em>supply curve</em> for loanable funds will <em>shift to the right</em> from S1 to S2. This will lead to a <em>fall</em> in the interest rate.

3. As we know that net capital outflow is inversely related to the interest rate. A fall in the interest rate above will lead to a <em>rise</em> in net capital outflow.

4. When net capital outflow increases, people move funds out of the country. Thus, supply of dollars will increase. While demand for dollars has remained unchanged, it leads to a<em> fall</em> in the real exchange rate. As exchange rate falls, the equilibrium level of net exports will <em>rise</em>.

3 0
3 years ago
The Quick Buck Company is an all-equity firm that has been in existence for the past three years. Company management expects tha
labwork [276]

Answer:

$49.01 per Share

Explanation:

We can find the value of the unit share of company that will be dissolved at the end of year 2 by using the following formula:

<u>Current Price per Share = Value of Firm Today (Step1) / Number of Shares</u>

= $1,862,345 / 38,000 shares

= $49.01 per Share

<u></u>

<u>Step 1: Find the value of the firm in today's price by using the discounting technique</u>

Value of Firm Today = Cash Flow for Year 1 / (1+r)^1       +        Cash Flow for Year 2 / (1+r)^2

=  $860,000  / (1 + 11%)^1     +    $1,340,000 / (1 + 11%)^2

= $774,774  +   $1,087,571

= $1,862,345

7 0
3 years ago
Other questions:
  • Bertucci Corporation makes three products that use the current constraint which is a particular type of machine. Data concerning
    11·1 answer
  • Under the liquidated damages clause in the Contract To Buy and Sell Real Estate, if the buyer defaults the seller has what optio
    5·1 answer
  • Getting the listener’s full attention, questioning him or her, and asking him or her to paraphrase the message are all technique
    9·1 answer
  • Who is the last prophet of Islam?
    5·2 answers
  • Mrs. Simpson is saving for her retirement. If she makes a payment of $1,000 at the end of each month for 15 years and earns a ra
    8·1 answer
  • The marginal social benefit received from pollution is equal to its marginal social cost in the market for highly polished glass
    8·2 answers
  • A bank has an interest rate spread of 150 basis points on $30 million in earning assets funded by interest-bearing liabilities.
    7·1 answer
  • Rosa's employer has instituted a flexible benefits program. Rosa will use the plan to pay for her daughter's dental expenses and
    11·1 answer
  • Which journal entry reflects the following transaction?:
    9·1 answer
  • Which of the following is a tertiary ratio that drives protability?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!