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
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

You might be interested in
Debra notes that Theo Chocolate has started holding its own operations to the same IMO standards of fair trade to which it holds
slamgirl [31]

Answer:

The correct answer is letter "A": Ethical leadership.

Explanation:

Ethical leadership is the set of managerial practices that executives use to give an example to their subordinates and promote good values among the organization. This is typically achieved by promoting fair treatment among workers and social awareness with the external environment of the firm.

In the example, <em>Theo Chocolate started to follow the International Maritime Organization (IMO) standards that promote the safety and security of international shipping and forbid marine pollution from ships</em>.

8 0
4 years ago
Bach Instruments Inc. makes three musical instruments: flutes, clarinets, and oboes. The budgeted factory overhead cost is $2,94
DaniilM [7]

Answer:

Predetermined manufacturing overhead rate= $391.78 per direct labor hour

Explanation:

Giving the following information:

Budgeted factory overhead= $2,948,125.

Direct labor hours:

Flutes= 2,000*2= 4,000

Clarinets= 1,500*3= 4,500

Oboes= 1,750*1.5= 2,625

Total direct labor hours= 7,525

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 2,948,125/7,525

Predetermined manufacturing overhead rate= $391.78 per direct labor hour

3 0
4 years ago
The following three defense stocks are to be combined into a price-weighted stock index in January 2016 (perhaps a portfolio man
emmainna [20.7K]

Answer:

24.42%

Explanation:

(a) Index on the day immediately before the split (on 1 Jan 2017)

= (114+ 34 + 56 ) / 3

= 204/3 =68

Price of Douglas McDonnel stock just after the split (on 2 Jan 2017)

= 114/3 = $38

New divisor for the index

= (38 + 34 + 56)/68

= 128/68

=1.88

(b) Index on 1 Jan 2017 = 68

Index on 1 Jan 2018 = (41.08+ 48+ 70) / 1.88

= 159.08/1.88

=84.61

Hence:

Rate of return on the index for the year

2017

= (84.61 - 68) / 68 × 100

16.61/68×100

= 24.42%

7 0
4 years ago
Suppose the United States has a comparative advantage over Mexico in producing pork. The principle of comparative advantage asse
vichka [17]

Answer:

d. Mexico has nothing to gain from importing United States pork.

Explanation:

The principle of comparative advantage asserts that countries (in this case Mexico) are better off importing certain goods (in this case pork), given that the opportunity cost of importing such goods are less in comparison to the production costs of manufacturing them within the country.

By definition, a country is said to have a <em>comparative advantage</em> over another, when they can produce a certain good or service at a lower marginal or opportunity cost.

6 0
3 years ago
​(Identifying spontaneous,​ temporary, and permanent sources of​ financing) Classify each of the following sources of new financ
Ivanshal [37]

Answer:

a) Permanent source of finance

b) Spontaneous source of finance

c) Permanent source of finance

Explanation:

With transaction b), The credit is for day to day operations making it a spontaneous funding but credit usually do not take more than 90 days to pay therefore temporal can also fit in nonetheless Spontaneous is more appropriate as the credit is a spontaneous source of funding.

5 0
4 years ago
Other questions:
  • TJ's and Corner Grocery are all-equity firms. TJ's has 2,500 shares outstanding at a market price of $16.70 a share. Corner Groc
    8·1 answer
  • Zeke purchased a life insurance policy 4 years ago. he inadvertently stated that he was 3 years younger than his actual age. if
    13·1 answer
  • A major factor contributing to the slow growth rate of less developed economies is
    6·1 answer
  • The payroll register of Patel Engineering Co. indicates $2,640 of social security withheld and $660 of Medicare tax withheld on
    11·1 answer
  • Samantha has a loan with an interest rate of 6.67 percent now, but the rate could increase 2 percent next year. What lending ter
    5·1 answer
  • When a non-price factor changes--such as technology, expectations, prices of related goods, prices of inputs, or the number of s
    13·1 answer
  • issuing a Purchase order (PO) is the completion of the contract between the buyer and seller. True or False
    8·1 answer
  • Asset acquisition vs. stock purchase (fair value equals book value) Assume that an investor purchases the business of an investe
    6·1 answer
  • When originally purchased, a truck costing BD 23.000 had an estimated useful life of 8 years and an estimated salvage value of B
    14·1 answer
  • A not-for-profit art museum that has elected to capitalize its art collection receives a donation of a rare piece of Native-Amer
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!