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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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Answer:

B. Institute of Management Accountants​ (IMA)

Explanation:

B. Institute of Management Accountants​ (IMA)

The Institute of Management Accountants is an institute where individuals are taught courses in accounting, financial accounting, management accounting, business studies, economic laws etc. This institute prepares the person to have professional study of all the managerial accounting practices involving different fields of study. There are three  basic stages, the first is the operational level, then the managerial level and the third is the strategic level. At each level a competitive exam is held to ensure the learning of accurate and high structured policies among emerging accounting managers.

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4 0
3 years ago
Until this past century, infancy was the life-stage with the highest mortality rate. ______ was/were also a time of high risk, d
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The answer in the space provided is early childhood and toddler hood because they are likely to be prone to infectious disease as they are still young and have a weak immune system that made them susceptible to be associated with diseases that they could obtain easily.

6 0
3 years ago
The ________ statement of a business report provides a clear description of the situation that created the need for the report.
Blababa [14]

Answer:

Problem statement

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Problem statement - it is referred to as the statement that given the clear and crystal information about the current situations. it is considered a good source of analyzing the real situations about the ongoing project.

This statement describes the current situations between the current and desired aim of the projects. it expressed the problem in two or three statements.

3 0
2 years ago
Investing $2,000,000 in TQM's Channel Support Systems initiative will at a minimum increase demand for your products 3.0% in thi
Neko [114]

Answer:

the payback period is 14 months

Explanation:

The computation of the payback period is shown below:

Profit is

= $2,000,000 - $1,669,426

= $330,574

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= 1 + $330,574 ÷ $1,669,426

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8 0
3 years ago
A firm has actual sales in November of $1,000 and projected sales in December and January of $3,000 and $4,000, respectively. Th
inn [45]

Answer:

b. 2,100

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On January will be collected: a) 10% January´s sales because is collected in cash; b) 40% December´s sales because is collected one month following the sale, and 50% November sales because the balance is collected two months following the sale.

So we can calcula like follows:

Expected cash receipts in January = (4,000 * 0.10) + (3,000 * 0.40) + (1,000 * 0.50)

Expected cash receipts in January = 400 + 1,200 + 500

Expected cash receipts in January = 2,100

8 0
3 years ago
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