Answer and Explanation:
1. Petty cash Dr, 150
To Cash account $150
(Being establishment of the fund is recorded)
For recording this we debited the petty cash as it increased the current assets and credited the cash as it decreased the value of current assets
2. Office supplies $35
Entertainment expense Dr, $110
To Cash account (balancing figure) $140
To Cash short and over $5 ($150 - $35 - $110)
Here we debited the office supplies and entertainment expense as it increased the expenses and we credited the cash account as it decreased the current assets
3. Petty cash account $150 ($300 - $150)
To Cash account $150
(Being the increase in balance is recorded)
For recording this we debited the petty cash as it increased the current assets and credited the cash as it decreased the value of current assets
Answer:The new machinery must be depreciated using the same method as the previously purchased Machinery.
Explanation:
This is in line with the consistent concept which states a company must be consistent in the application of accounting principles to his activities.
A very good structures manager but a negative assignment manager: A structures supervisor’s responsibility is targeted at managing and retaining the hardware and software assets of the organization. This position may additionally need the manager to enforce installation and operations tasks on the IT systems.
Approximately the opposite situation: in the opposite situation, an undertaking manager can be operating in special domains.
The definition of a manager is someone chargeable for supervising and motivating employees and for steering the progress of a corporation. An instance a supervisor is a person who is in fee of customer service deals with purchaser disputes and oversees and supervises customer service agents.
To the maximum essential degree, control is an area that consists of hard and fast five fashionable features: planning, organizing, staffing, leading, and controlling. these 5 capabilities are part of a body of practices and theories on how to be a successful manager.
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Answer:
The correct answer is (e)
Explanation:
The interpersonal process is a key aspect which helps team members to grow and trust each other. It helps to build confidence within the team members. The role of Kevin is to improve confidence and motivate team members, which is an interpersonal process. It is related to individual traits and qualities. The interpersonal process is handling by someone who has relevant experience to encourage and motivate people. It is an essential process before the task, and within the task to achieve necessary results.
Answer:
C) Credit to Unearned Management Fees for $62,000.
Explanation:
* There is an Inconsistency with the amount of fee mentioned in Question and In options $60,000 and 62,000 respectively.
The Service fee is received in advance and the service is not been performed. You can record the revenue when you perform the service against the amount received. So, amount 62,000 will be the Unearned Management fee and it will be a liability and the Journal transaction for this event will be as follows:
Dr. Cash $62,000
Cr. Unearned Management Fees $62,000
So the correct option is C) Credit to Unearned Management Fees for $62,000.
