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Eddi Din [679]
3 years ago
7

Spencer Co. decides to establish a petty cash fund with a beginning balance of $200. The company decides that any purchase under

$25 can be processed through petty cash instead of the voucher system. The journal entry to record establishing the account is:________
a. Debit Cash $200 and credit Cash Over and Short $200
b. Debit Petty Cash $200 and credit Cash $200
c. Debit Petty Cash $200; credit Cash $175; and credit Cash Over and Short $25
d. Debit Cash $200 and credit Petty Cash $200
e. Debit Cash $200 and credit Petty Cash Over and Short $200.
Business
1 answer:
Dahasolnce [82]3 years ago
5 0

Answer:

b. Debit Petty cash $200 and credit cash $200

Explanation:

Based on the information given we were told that the Company decided to establish petty cash fund that has a beginning balance of the amount of $200 which means that journal entry to record establishing the account will be:

Dr Petty cash $200

Cr Cash $200

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The ending inventory has 83,000 units, which are 100 percent complete for Department R costs. Required: a. Assume that Saline So
natima [27]

Answer:

Total unit cost                                   $8.80

Total Costs  Transferred out          $730,400  

Explanation:

In Process Costing we find the individual unit costs and total costs transferred by multiplying it with the equivalent no of units.

As the units are 100 percent complete the Equivalent units are 83,000 units for both materials and conversion.

Saline Solutions

Weighted-Average Process

Materials in Department S             $6.40

<u>Conversion costs Department S     $2.40</u>

<u>Total unit cost                                   $8.80</u>

Total No of units 83,000

<u>Total Costs           $8.80</u>

<u>Total Cost  Transferred Out         $730,400  </u>

<u />

Total Costs Transferred to Materials = $ 6.4 * 83,000=$ 531200

Total Costs Transferred to Conversion = $ 2.4 * 83,000=$ 199200

Total Costs Transferred= $ 531200+$ 199200= $ 730400

4 0
4 years ago
Why should you make sure that your cover letter has no spelling or grammar errors?
satela [25.4K]
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8 0
3 years ago
Why would a home or facility choose pre-plated or family-style meals? What are the benefits and drawbacks of each?
Gekata [30.6K]

Answer:

It has to do with cost, portion control and child personality training

Explanation:

1. Portion Control: Parents often give their children so much more to eat than they can, when meals are presented pre-plated and this can lead to waste, which would have been avoided in a family-style meal where each child can pick for themselves as much as they know they can eat.

2. Cost Control: Pre-plated meals because of their nature of already-defined-portions could help parents budgeting as against when children begin to pick so much more portions of fish at meal time, than they do vegetables; which can spike the cost of each meal

3. Personality Training: In pre-plated meals, the decision making is in the hands of the parent but in the family style meals, the child is beginning to learn how to make choices and decisions, early enough in life; which have have huge leadership benefits at the work place and personally, later in life.

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4 years ago
The straight-line depreciation method and the double-declining-balance depreciation method: Multiple Choice Are acceptable for t
fiasKO [112]

Answer:

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Explanation:

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Answer:

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Explanation:

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