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2 years ago

Petty Cash Journal Entries

Business

1 answer:

Sati [7]2 years ago

3 0

Answer:

(a) January 1

Dr Petty cash $200

Cr Cash $200

B. January

Dr Phone Expense $17.50

Dr Automobile Expense 33

Dr Joseph Levine, Drawing 56

Dr Postage Expense 12.50

Dr Charitable Contributions Expense 15

Dr Miscellaneous Expense 49

Cr Petty cash 183

January 31

Dr Petty cash $183

Cr Cash $183

Explanation:

(a) Preparation of the journal entry to establish a petty cash fund

January 1

Dr Petty cash $200

Cr Cash $200

b. Preparation of the journal entry to replenish the petty cash fund.

January

Dr Phone Expense $17.50

Dr Automobile Expense 33

Dr Joseph Levine, Drawing 56

Dr Postage Expense 12.50

Dr Charitable Contributions Expense 15

Dr Miscellaneous Expense 49

Cr Petty cash 183

($17.50+33+56+12.50+15+49)

January 31

Dr Petty cash $183

Cr Cash $183

($17.50+33+56+12.50+15+49)

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Multiplier = 1 / (1 - Marginal propensity to consume)

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If the government wants to raise Aggregate demand by $25 billion, they should spend:

Increase in AD = Amount * Multiplier

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2 years ago

Demand for consumer goods is necessarily variable. Forecasting the demand for consumer goods is an important business activity,

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Answer:

7.5 to 467.5.

Explanation:

Please note that In order to be fast, I make use of excel during the Calculation.

So, the first thing to do is to make sure that the observation is arranged in an increasing order.

Step one: Calculate the value for J1 and J3.

Know that J1 = J3. Where J3 = 3rd quartile.

Hence, J1 = 1st QUARTILE = QUARTILE. EXC (data, 1) = 18.

Also, J3 = QUARTILE. EXC(data, 3). = 29.5.

Therefore, the difference between the first quartile and the third QUARTILE = 29.5 - 18 = 11.5.

Step two: calculate the value for the higher fence and the lower fence respectively.

Thus, for the higher fence we have;

J3 + 1.5( 11.5).

= 29.5 + 1.5(11.5).

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Then, for the lower fence;

J1 - 1.5( 11.5).

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2 years ago

Which of the following statements is most correct? A. KSFs are often necessary, but not sufficient for competitive advantage.B

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Answer:

A. KSFs are often necessary, but not sufficient for competitive advantage.

Explanation:

KSF

Key Success Factors (KSFs) represent business functions, practices or business activities as defined or seen by the customers or the market as being important or crucial to the development of consumer/business relationship.

KSFs represent areas organisations are to attend to based on the views of the market in order to achieve their goals. It could be in form strengths to maximize, weaknesses to address, aspects to take advantage of among others.

It becomes obvious that although important (from the view of the market or consumers who patronize the business), a business must makes its own due diligence in form of SWOT analysis among others to have the required competitive advantage.

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3 years ago

In previous question, suppose the company intends to go public by selling 3,000,000 new shares. Moreover, assume the company has

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Answer:

A. $3.5 million

B. $120

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Total value of the company= (200,000 + 100,000)* $1.5

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B) Calculation for What is the estimated IPO stock price

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Equity = $100 million + $20 million

Equity = $120 million

Now let calculate the value per share

Value per share = $120 million/1 million

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2 years ago

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Learn more about a preventative measure, refer to:

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