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Ira Lisetskai [31]
3 years ago
13

Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $400. The fund wa

s last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 Freight charge for merchandise purchased $ 62 December 7 Delivery charge for shipping to customer $ 46 December 12 Purchase of office supplies $ 30 December 18 Donation to charitable organization $ 51 If, in addition to these receipts, the petty cash fund contains $201 of cash, the journal entry to reimburse the fund on December 31 will include:
Business
1 answer:
Sergio [31]3 years ago
7 0

Answer:

A credit to Cash of $299

Explanation:

Journal Entry                     Debit    Credit

Merchandise inventory      $62

Delivery charges                 $46

Office supplies                    $30

Miscellaneous expenses    $51

Cash over and short             $100

Cash                                                   $299

Cash to be reimbursed = Minimum cash balance required - Cash balance left

Cash to be reimbursed = $500 - $201

Cash to be reimbursed = $299

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It is not possible for abandonment options to decrease a project's risk as measured by the project's coefficient of variation.
Tatiana [17]

This is false abandonment options should decrease a project's risk.

4 0
3 years ago
A woman buys a house for a ​$320000. She pays ​$40000 down and takes out a mortgage at 5.7​% for 20 years on the balance. Find h
sdas [7]

Answer:

PMT= 1957.850

Explanation:

For this case the total payment is $320000, and she pays $40000 so the remain amount to pay would be:

$320000-40000=$ 280000

For this case we assume that the annual interest rate is APR=5.7% =0.057 on fraction.

The total number of years are 20. For this case n represent the number of payments per year and since we have monthly payments then n =12.

In order to find the PMT we can use the following formula:

PMT= \frac{P(\frac{APR}{n})}{[1-(1+\frac{APR}{n})^{-nt}]}

On the last expression the APR needs to be on fraction and P represent the principal amount, for this case P = $280000. So if we replace we got:

PMT= \frac{280000(\frac{0.057}{12})}{[1-(1+\frac{0.057}{12})^{-12*20}]}

PMT= 1957.850

And we can verify this using the following excel function: "=PMT(0.057/12,12*20,-280000)"

3 0
3 years ago
Compare your results to the industry ratios and describe what NMC should do to improve its position in the market.
docker41 [41]

Answer:

sorry need points ok.

Explanation:

sorry talaga ha

pero wag kayong magalit

  1. ayaw kasuko
  2. wag kang magalit
  3. never angry

7 0
3 years ago
6) On June 4rd Chandler & Monica Grocery Store collected sales of $5,000 and sales taxes of $200. What is the journal entry
Mademuasel [1]

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $5,200

     To Sales revenue A/c $5,000

      To Sales tax payable A/c $200

(Being the cash is collected in respect of sales and sales tax)

Since the cash is collected so we debited the cash accounts and the sale is made. Along with it, the sale tax is also collected so these two accounts are credited.

6 0
3 years ago
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:
just olya [345]

The Adjusted Trial Balance of ACME Fireworks on January 31, 2021 is as follows and totals $517,300 on both sides.

Adjusted Trial Balance

January 31, 2021

Accounts                                     Debit       Credit

Cash                                       $27,000

Accounts Receivable             188,400

Allowance for Uncollectible Accounts        $ 600

Inventory                                  15,000

Land                                        59,000

Equipment                               21,500

Redeemable Gift Cards                               8,200

Accumulated Depreciation                         2,800

Accounts Payable                                     86,800

Notes Payable (6%, due April 1, 2019)     63,000

Common Stock                                         48,000

Retained Earnings                                    27,900

Sales Revenue                                      280,000

Cost of Goods Sold            154,300

Salaries Expenses                52,100

Totals                              $ 517,300  $ 517,300

<u>Data and Calculations:</u>

ACME Fireworks General Ledger Account Balances

January 1, 2021

Accounts                                     Debit       Credit

Cash                                      $ 26,400

Accounts Receivable              48,800

Allowance for Uncollectible Accounts  $ 5,500

Inventory                                  21,300

Land                                        59,000

Equipment                               21,500

Accumulated Depreciation                       2,800

Accounts Payable                                   29,800

Notes Payable (6%, due April 1, 2019)   63,000

Common Stock                                       48,000

Retained Earnings                                  27,900

Totals                               $ 177,000 $ 177,000

<u>Analysis of Transactions:</u>

Jan. 2 Cash $8,200 Redeemable Gift Cards $8,200

Jan. 6 Inventory $148,000 Accounts Payable $148,000

Jan. 15 Accounts Receivable $136,000 Sales Revenue $136,000

Cost of Goods Sold $74,300 Inventory $74,300

Jan. 23 Cash $125,500 Accounts Receivable $125,500

Jan. 25 Accounts Payable $91,000 Cash $91,000

Jan. 28 Allowance for Uncollectible Accounts $4,900 Accounts Receivable $4,900

Jan. 30 Cash $10,000 Accounts Receivable $134,000 Sales Revenue $144,000

Cost of Goods Sold $80,000 Inventory $80,000

Jan. 31 Salaries Expense $52,100 Cash $52,100

<u>Adjustments of the Trial Balance with Transactions:</u>

Accounts                                     Debit       Credit

Cash                                    $ 26,400 + 8,200 + 125,500 - 91,000 + 10,000 - 52,100

Accounts Receivable            48,800 + 136,000 - 125,500 - 4,900 + 134,000

Allowance for Uncollectible Accounts  $ 5,500 - 4,900

Inventory                                  21,300 + 148,000 - 74,300 - 80,000

Land                                        59,000

Equipment                               21,500

Redeemable Gift Cards                                        8,200

Accumulated Depreciation                       2,800

Accounts Payable                                   29,800 + 148,000 - 91,000

Notes Payable (6%, due April 1, 2019)   63,000

Common Stock                                       48,000

Retained Earnings                                  27,900

Sales Revenue                                                136,000 + 144,000

Cost of Goods Sold              74,300 + 80,000

Salaries Expenses                52,100

Learn more: brainly.com/question/24872559

5 0
2 years ago
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