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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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For an airline, which of the following would not be an operational budget? A cash receipts budget of flying consumers. A budget
katrin [286]

Answer:

A cash receipts budget of flying consumers.

Explanation:

Operational budget is defines as all the profits and expenses a business realises as a result of planning it's operations.

Usually an operational budget is set before activities begin, and is a target to be achieved.

For an airline cash receipts of flying customers is not a revenue realised as a result of planning operations, so this is the correct answer.

However a fuel budget, material budget for parts, and labour budget for flight crew are operational budgets.

4 0
3 years ago
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Dividing customers into different categories and offering different prices based on customer segments is the pricing strategy kn
morpeh [17]

Dividing customers into different categories and offering different prices based on customer segments is the pricing strategy known as Price discrimination.

Demographic, psychographic, behavioral, and geographic segmentation are considered to be the four main types of market segmentation, but there are many other strategies that can be used, including different variations of the four main types. there is. Below are some methods you might want to consider further.

Customer segmentation is the process of dividing customers into groups based on common characteristics so that companies can effectively and appropriately market to each group. B2B marketing allows companies to segment their customers based on many factors, including industry.

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8 0
1 year ago
What is the major difference between a nonprofit organization and a for-profit organization?.
vodka [1.7K]

Answer:

nonprofits have a social mission, while for-profits aim to offer products and services that are valuable and that make them a tom of money. Then they get money. and also non profits don't make a profit they just pay for themselves and their product.. 0 profit

Explanation:

4 0
2 years ago
How might a person in an information technology company have a lot of power even if he or she does not hold an executive title
Gnesinka [82]

Answer:

Even if individual doesn't even have an executive role, a person responsible of information technology for a corporation might wield tremendous authority. This is due to the fact that power is not necessarily linked to a position of authority.

Explanation:

A person with leadership qualities can advance to positions of power, allowing them to put their abilities and personality attributes to good use. A person in charge of information technology is also responsible for optimising the company's digital technologies owing to the nature of the role and responsibilities.

8 0
3 years ago
Connie works in the Human Resource department of a company and is
GenaCL600 [577]

Answer:

Explanation:

A This scenario describes a payroll fraud ; This is a form of fraud where an employee or an employer manipulates the payroll system in order to fraudulently receive an un earned wages.

B The employees that Connie was paying to their account that she controls are called Ghost employees. These are fictitious person  put on a payroll for fraud purposes.

C The fact that it took the company 5 years to discover the fraudulent practice indicates a weak internal control environment

D

  1. Some of the actions that the company failed to do are
  2. No proper authorization in place before employees are added to payroll
  3. No segregation of duties as Connies appears to have been the person that add employees to payroll , approve and also disburse salary
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8 0
3 years ago
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