Answer:
September 1, petty cash fund is established
Dr Petty cash fund 230
Cr Cash 230
September 10, petty cash expenses
Dr Supplies expense 53
Dr Postage expense 80
Dr Cash short and over 16
Cr Petty cash fund 149
September 10, petty cash is replenished
Dr Petty cash fund 149
Cr Cash 149
September 15, petty cash fund in increased
Dr Petty cash fund 90
Cr Cash 90
Answer: it requires less objects to make the decision much easier and clearer of what the purchaser wants to get.
Explanation:
Answer:
The answer is d. Work in Process account.
Explanation:
Work-In-Process (WIP) refers to the materials that have started the production process, but have not yet been completed. The work-in-process inventory account is an asset account that is used to track the cost of the partially finished goods.
Answer:
$665,500
Explanation:
The computation of ending retained earning balance is shown below:
The ending retained earnings balance = Opening retained earning balance - cash dividend declared - overstatement of inventory error + net income - stock dividend declared
= $539,000 - $119,000 - $39,500 + $344,500 - $59,500
= $665,500
We simply added the net income and the rest of the items are deducted to find out the ending retained earning balance
