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3 years ago

During October, Carla Vista Company experiences the following transactions in establishing a petty cash fund.

Business

1 answer:

ahrayia [7]3 years ago

7 0

Answer:

October 1

Dr. Petty Cash $146

Cr. Cash $146

October 31

Dr. Supplies $24.77

Dr. Miscellaneous items $15.07

Dr. Postage $38.37

Dr. Freight-Out $5.47

Dr. Cash Shortage $1.29

Cr. Cash (146-59-2.03) $84.97

Tot reimburse Petty cash Expense

Dr. Petty Cash $50

Cr. Cash at bank $50

(196-146 = 50)

Explanation:

A petty cash is a small amount of money disbursed by an organisation for expenditures. This expenditures are usually day to day expenses such as postages, stationaries, office supplies and so on. From time to time, there may be cash shortages or the cash may be over for various reasons.

Supplies, Miscellaneous items, Postage, and Freight are all expenses account due to their debit nature it is debited to record all these expenses and Cash net of petty cash balance and actual cash available is credited to decrease the balance of the cash used for expenses. Ne of these entries is cash excess or shortage.

Cash issued for petty cash is recorded as debit in petty cash account and credit the cash at bank to record the effect of this transfer.

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PortaCom manufactures notebook computers and related equipment. PortaCom's product design group developed a prototype for a new

Alchen [17]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Selling Price $284 per unit

Administrative Cost $500,000

Advertising Cost $700,000

(a) Units= 18,500

Direct labor= $50

Direct material= $88

Sales= 18,500*284= 5,254,000

Variable costs= (50 + 88)*18,500= (2,553,000)

Contribution margin= 2,701,000

Administrative Cost= (500,000)

Advertising Cost= (700,000)

Net operating income= 1,501,000

B)Units= 9,500

Direct labor= $51

Direct material= $101

Sales= 9,500*284= 2,698,000

Variable costs= (51 + 101)*9,500= (1,444,000)

Contribution margin= 1,254,000

Administrative Cost= (500,000)

Advertising Cost= (700,000)

Net operating income= 54,000

7 0

3 years ago

QUESTION ONE (1)

Hunter-Best [27]

Y’all really be posting the whole passage on here, at this point y’all are just lazy to actually work it out

3 0

3 years ago

An individual who makes $32,000 per year anticipates retiring in 30 years. If their salary is increased by $600 each year and th

Zepler [3.9K]

Answer:

$366,287.15

Explanation:

Annual salary = $32000

No. of years (n) = 30 years

Increment in salary = $600

Deposit rate = 10%

Interest rate (r) = 7% or 0.07

Growth rate (g) = Increment in salary \div annual salary

Growth rate = $600 \ $32000

Growth rate = 0.01875

First deposit = $32000 x 10% = $3200

Future worth = [First deposit \ (r - g)] x [(1 + r)n - (1 + g)n]

Future worth = [$3200 \ (0.07 - 0.01875)] x [(1 + 0.07)30 - (1 + 0.01875)30]

Future worth = [$3200 \ 0.05125] x [(1.07)30 - (1.01875)30]

Future worth = $62439.0243902 x [7.6122550423 - 1.7459373366]

Future worth = $62439.0243902 x 5.8663177057

Future worth = $366287.15

Hence, the future worth at retirement is $366,287.15

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3 years ago

Market equilibrium Consider the demand function of tofu given by Qd = 150 – 10p + 5pb and the supply function of tofu given by Q

ser-zykov [4K]

Answer:

a) Qs = 50 + 20p - 7ps

= 50 + 20p - 7×(2)

= 50 + 20p - 14

= 36 + 20p

At equilibrium, $Q_{d}$ = $Q_{s}$

So, 150 - 10p + 5 $p_{b}$ = 36 + 20p

So, 20p + 10p = 30p

= 150 - 36 + 5 $p_{b}$

= 114 + 5 $p_{b}$

So, p = (114/30) + (5/30) $p_{b}$

= 3.8 + 0.17 $p_{b}$

Thus, $p_{e}$ = 3.8 + 0.17 $p_{b}$

Q = 36 + 20p

= 36 + 20(3.8 + 0.17 $p_{b}$ )

= 36 + 76 + 3.4 $p_{b}$

= 112 + 3.4 $p_{b}$

Thus, $Q_{e}$ = 112 + 3.4 $p_{b}$

b) $p_{e}$ = 3.8 + 0.17 $p_{b}$

= 3.8 + 0.17×(5)

= 3.8 + .85

= 4.65

$Q_{e}$ = 112 + 3.4 $_{b}$

= 112 + 3.4(5)

= 112 + 17

= 129

c) Qd = 150 - 10p + 5pb = 150 - 10(2.5) + 5(5) = 150 - 25 + 25 = 150

Qs = 36 + 20p = 36 + 20(2.5) = 36 + 50 = 86

Thus, there is excess demand as $Q_{d}$ > $Q_{s}$

d) New $Q_{d}$ = 180 - 10p + 5 $p_{b}$

= 180 - 10p + 5×(5)

= 180 - 10p + 25

= 205 - 10p

Now, new $Q_{d}$ = $Q_{s}$ gives,

205 - 10p = 36 + 20p

So, 20p + 10p = 205 - 36

So, 30p = 169

So, p = 169÷30

So, $p_{e}$ = 5.63

Q = 205 - 10p = 205 - 10×(5.63) = 205 - 56.3 = 148.7

So, $Q_{e}$ = 148.7

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3 years ago

Sheffield Corp. had credit sales of $1696000. The beginning accounts receivable balance was $175000 and the ending accounts rece

Aleks04 [339]

Answer:

$1,574,000

Explanation:

Cash collections from customers during the period using direct method is computed as;

= Credit sales + Beginning accounts receivables - Ending accounts receivables

= $1,696,000 + ($175,000 - $297,000)

= $1,692,000 - $122,000

= $1,574,000

7 0

3 years ago