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4 years ago

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

Business

1 answer:

ahrayia [7]4 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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4 years ago

Suppose a bond with a 10% coupon rate and annual coupons, has a face value of $1,000, 5 years to maturity and is selling for $1,

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<u>Solution and Explanation:</u>

1. the Yield to maturity

FV = 1,000

PMT = FV multiply with Coupon rate , PMT = 1,000 multiply with 0.1 = 100

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Therefore, the Yield to maturity = 5.380166647%

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3 years ago

Find the future value of $10,000 invested now after five years if the annual interest rate is 8 percent. What would be the futur

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Answer:

$4,000

Explanation:

P- percent

r-rate

t-time

P: 10000

R:8 but u have to move it two spots so it would be 0.08

T:5 years

10,000(0.08) (5) = 4,000

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That's how I do it. I hope it helps!

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2 years ago

Dobles Corporation has provided the following data from its activity-based costing system: The Assembly Cost Pool has a total co

Harrizon [31]

Answer:

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inspection $125560 1720 hours $73.00

Cost per activity is obtained by dividing total cost for each activity pool with its respective total activity. Cost per activity is helpful to identify the total cost allocated to each activity.

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Therefore, the unit product cost of product D28K is closest to $95.34

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