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aliina [53]
3 years ago
14

pencer Co. has a $300 petty cash fund. At the end of the first month the accumulated receipts represent 553 for delivery expense

s, $167 for merchandise inventory, and $22 for miscellaneous expenses. The fund has a balance of $58. The journal entry to record the reimbursement of the account includes a:_________.a) Debit to Petty Cash for $300. b) Debit to Cash Over and Short for $58 c) Credit to Cash for $242 d) Credit to Inventory for $167e) Credit to Cash Over and Short for $58.
Business
1 answer:
otez555 [7]3 years ago
4 0

Answer:

c) Credit to Cash for $242

Explanation:

Petty cash, beginning = $300

Delivery expense = $53

Merchandise inventory = $167

Miscellaneous expense = $22

Petty cash, Ending = $58

The journal to record the reimbursement of the accounts will be:

Event    Account Title and Explanation   Debit    Credit

1           Delivery expense                            $53  

           Merchandise inventory                   $167  

           Miscellaneous expense                  $22

                    Cash                                                   $242

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A local theater company sells 1,500 season ticket packages at a price of $250 per package. The first show in the 10-show season
swat32

Answer:

Dr cash    $375,000

Cr unearned revenue      $375,000

Dr unearned revenue     $37,500

Cr revenue                                    $37,500

Explanation:

The total amount realized from the sale of tickets is  $375,000($250*1500)

However,the cash proceeds should be debited to cash while it is also credited to unearned revenue

The revenue from fulfilling the performance obligation=1/10*$375,000=$37,500

The $37,500 is debited to unearned revenue and credited to sales revenue as that amount has now been earned

4 0
3 years ago
List at least 6 things your credit card company must clearly disclose to consumers.
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8 0
1 year ago
Institutions specialize in raising money for governments and corporations by issuing securities.
DaniilM [7]

Investment institutions is a specialize in raising money (investment capital) for governments and corporations by issuing securities such as stocks or bonds. People buying a company's securities are buying into a portion of a company and its earnings or income. Investment institutions offers shares or units. 

6 0
3 years ago
Read 2 more answers
Widget Inc. manufactures widgets. The company has the capacity to produce​ 100,000 widgets per​ year, but it currently produces
gayaneshka [121]

Answer:

$62,100

Explanation:

Given that,

Sales price per unit = $ 40

Variable costs per​ unit:

Manufacturing = $ 23

Marketing and administrative = $ 8

Total fixed​ costs:

Manufacturing = $ 76,000  

Marketing and administrative = $24,000

Total incremental costs:

= Variable manufacturing + Variable marketing and administrative

= (6,900 × $23) + (6,900 × $8)

= $158,700 + $55,200

= $213,900

Incremental income:

= Incremental revenue - Total incremental costs

= (6,900 × $40) - $213,900

= $276,000 - $213,900

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7 0
3 years ago
A woman is shopping with her three children. She is carrying several items and does not have a shopping basket. She is still bro
dlinn [17]

Answer: The women customer either complain to the supervisors to address her issue immediately nor the employee should apologize to the woman and provides a shopping basket to her.

Explanation:

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In this case, Woman's customer has experienced the pain as she cannot able to get a basket to hold the items. As she needs to take care of her children, Her request needs to fulfilled without any delay. Mutual consent with the ethics of the shop needs to tie up the bonding relationship between employees and consumers. At last, if the employee apologizes for her mistake and helps the woman by providing basket will end in the peaceful business transactions in the supermarket.  

3 0
3 years ago
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