Waupaca Company establishes a $340 petty cash fund on September 9. On September 30, the fund shows $51 in cash along with receipts for the following expenditures: transportation-in, $58; postage expenses, $78; and miscellaneous expenses, $148. The petty cashier could not account for a $5 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory.
Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $375.
Answers
1) September 9 Entry: Petty Cash Dr. $340, Cash Cr. $340
2) September 30 Entry: Transportation-in Dr. $58, Postage Expenses Dr. $78, Miscellaneous Expenses Dr. $148, Petty Cash Dr. $5, Cash Cr. $289
3) October 1 Entry: Petty Cash Dr. $35, Cash Cr. $35
1) September 9 Entry:
Petty Cash Dr. $340
Cash Cr. $340
2) September 30 Entry:
Transportation-in Dr. $58
Postage Expenses Dr. $78
Miscellaneous Expenses Dr. $148
Petty Cash Dr. $5 (shortage)
Cash Cr. $289
3) October 1 Entry:
Petty Cash Dr. $35
Cash Cr. $35
1) On September 9, the company establishes a petty cash fund of $340. The entry increases the petty cash asset and decreases the cash asset by the same amount.
2) On September 30, the petty cash fund is reimbursed. The company records the expenditures made from the petty cash fund: $58 for transportation-in, $78 for postage expenses, and $148 for miscellaneous expenses. Additionally, a $5 shortage is reported, indicating that the petty cashier is unable to account for $5. To balance the entry, the company reduces the cash asset by $289 to reflect the reimbursement of the fund.
3) On October 1, the petty cash fund is increased to $375. The entry raises the petty cash asset and decreases the cash asset by the same amount.
These entries ensure accurate tracking of petty cash transactions, facilitating proper control and accountability over the fund.
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Related Questions
McDonald's is the most recognizable fast-food chain in the world. Explain the concept product modification (10) and indicate to what degree the product has been modified for the South African market. Illustrate your answer by giving examples
Answers
The correct answer to this open question is the following.
Although you did not attach the text or an excerpt of a lesson, we can comment on the following.
The concept of product modification can be explained this way. Companies have their products that are sold in a determined region. Let's say, the United States. However, when they expand and go to other countries, they need to adapt their products and services to the other countries where they are going to launch their products.
To be able to do that, companies have to do a lot of research to really understand the new culture, customs, ideas, and traditions, so companies like McDonald's can adjust, adapt or adequate their products and flavors to the people of South Africa, for instance. Some marketing experts called "tropicalize" a product to a specific region.
So in the case of South Africa, McDonald's had to understand how teh African people lived, what they like, what they enjoy, what their favorite flavors are, how spicy they like their food, what kind of condiments they accept, and so on. This will also allow executives of McDonald's to create special promotions, combos, and presentations of the food.
annalucia is giving a speech on behalf of her company
Answers
Annalucia will be delivering a speech representing her company. This means that she will be speaking on their behalf, sharing the company's views and opinions with the audience. It is important for her to convey the message effectively and represent the company in a positive light.
Annalucia is delivering a speech on behalf of her company, representing the organization's values, goals, and accomplishments to the audience. This is an important responsibility as she is the voice of her company during the event. Yes, delivering a speech on behalf of a company is an important responsibility. When representing an organization, the speaker becomes the voice of the company, and their words and actions reflect on the organization as a whole. Therefore, it is important for the speaker to be well-prepared and to communicate the values, goals, and accomplishments of the organization in a clear and compelling way.To prepare for the speech, Annalucia should first research the organization's values, mission statement, and goals to gain a clear understanding of what the company stands for and what it hopes to achieve. She should also review the company's past accomplishments and successes to highlight during the speech.Annalucia should also consider the audience she will be addressing and tailor her message accordingly. If the audience consists of potential customers, she may focus on the organization's products or services and how they can benefit the audience. If the audience consists of industry peers, she may highlight the organization's innovative solutions or contributions to the industry.
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which of these behaviors in beginning carpenters is rated highest by employers
Answers
It's important to note that different employers may have different priorities and what is highly valued by one employer may not be as important to another.
It can vary among employers, but some common behaviors that are rated highly by employers in beginning carpenters include:
Attention to detail: Carpentry requires precision and accuracy, so beginning carpenters who take care to measure and cut accurately are highly valued by employers.Safety consciousness: Employers want to make sure their workers follow proper safety procedures, and carpenters who prioritize safety on the job are often seen as being responsible and professional.Good work ethic: Employers value carpenters who are reliable, punctual, and hardworking. Consistently delivering quality work on time helps build trust and respect with your employer.Ability to learn quickly: Carpentry is a field with a lot of techniques and tools, and employers appreciate carpenters who can learn and adapt quickly.Good communication skills: Effective communication is crucial in construction, as carpenters often work with a team and need to understand instructions and convey information effectively.Additionally, as you gain more experience, other behaviors such as leadership, problem-solving skills, and creativity may become more highly valued.
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Employees who are paid a set annual wage regardless of the number of hours worked or the amount of work completed are paid on a(n) _____ basis
Answers
Answer:
Employees who are paid a set annual wage regardless of the number of hours worked or the amount of work completed are paid on a SALARY basis. Salary system of compensation is often based on qualifications, seniority, experience and the degree of difficulty of the job that the staff is executing.
Question:4
Krishna Furnishers Martstarted its operations in the year 1954 and emerged as the market leader in the industry
because oftheir original designs and efficiency in operations. They had a steadydemand fortheir products but overthe
years, they found their market share declining because of newentrants in the field. The firm decided to review their
operations and decided that in orderto meet the competition, they need to study and analyze the market trends and
then design and develop their products accordingly. List any two impacts of changes in business environmernt on
Krishna Furnishers Mart's operations. (Hint: increase in competition and Market orientation)
Answers
Suppose the government gives every firm enough permits so that, without trade, every firm must clean two units of pollution. What will the cost be to every firm, and the cost to clean 6 units of pollution? The market price for a permit is $1300. Net Cost for US Steel ={ Net Cost for Ford =↑ Net Cost for Apple = \{ Societal cost to clean =$
Answers
The cost to every firm is $2600, the cost to clean 6 units of pollution is $7800, and the societal cost to clean the pollution is also $7800.
To calculate the cost to every firm and the cost to clean 6 units of pollution, we need to consider the cost of permits and the amount of pollution each firm needs to clean.
Every firm must clean two units of pollution without trade.
The market price for a permit is $1300.
Cost to every firm:
Since every firm needs to clean two units of pollution, and the market price for a permit is $1300, the cost to every firm would be:
Cost to every firm = 2 units of pollution * $1300/permit
Cost to every firm = $2600
Cost to clean 6 units of pollution:
To clean 6 units of pollution, we need to determine the number of permits required. Since each permit allows the firm to clean one unit of pollution, we divide the total units of pollution by the number of units cleaned per permit:
Number of permits required = 6 units of pollution / 1 unit per permit
Number of permits required = 6 permits
The cost to clean 6 units of pollution would be the cost of the permits:
Cost to clean 6 units of pollution = Number of permits * Market price per permit
Cost to clean 6 units of pollution = 6 permits * $1300/permit
Cost to clean 6 units of pollution = $7800
Societal cost to clean:
The societal cost to clean the pollution would be the sum of the costs to every firm. If we assume there are three firms (US Steel, Ford, and Apple), the societal cost to clean the pollution would be:
Societal cost to clean = Cost to every firm * Number of firms
Societal cost to clean = $2600 * 3
Societal cost to clean = $7800
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if there are diminishing returns to labor , then as more workers are hired the total amount produced by all of the workers will decrease .
Answers
Answer:
Diminishing returns to labor
"if there are diminishing returns to labor , then as more workers are hired the total amount produced by all of the workers will decrease."
The above statement is not correct.
The total amount produced by all of the workers will not decrease. It will increase, but the increase will not be as much as it was before the continued increase in labor because of the law of diminishing returns.
Explanation:
The law of diminishing returns to labor explains that the marginal increase in total output will not be the same as it was before the increase because one of the inputs in production, like capital is kept constant, while labor is being continuously increased. The reason for this is that the capital assets will not be enough for the increasing population of labor when the entity has reached its full capacity. Unless capital assets (capacity) is increased as labor is increased, there will reach a point when the production per labor will start to decrease instead of increasing, but the total production will continue to increase.
In Economics, the law of diminishing returns holds that if one input is held constant (capital) while other inputs ( e.g. labor) are being increased, a point is reached when the additional inputs yield smaller output or diminishing returns relative to the increasing inputs. This law is also called the principle of diminishing marginal productivity. This principle teaches managers to be aware that if they want to achieve total increases in productivity, it is not only one input that should be increased, especially after a point.
4 differences between private and public enterprises
Answers
Answer:
Private enterprise refers to the enterprise owned, managed and controlled by private persons.
Public enterprise refers to the enterprise owned, manage and controlled by government.
Private enterprise main motive is earning profit.
Public enterprise main motive is to render service to general public.
Private enterprise involves no rules and regulations.
Public enterprise involves lot of rules and regulations.
Private enterprise involves funds from individuals.
Public enterprise involves funds from government.
Explanation:
Which two ways is productivity commonly measured? (Select two answers.)
-Age of workers
-Level of education
-Number of workers
-Hours of labor
-Number of competitors
Answers
Answer: Number of workers & Hours of labour
Explanation:
nancy wiley, cfa, suspects that one of her clients is involved in illegal money-laundering activity, and may have large amounts of unreported income. to comply with the code and standards, wiley's best course of action is to:
Answers
Nancy Wiley, CFA, suspects that one of her clients is involved in illegal money-laundering activity, to comply with the code and standards, Wiley's best course of action is to: Inform her supervisor, consult with her firm's compliance department and possibly outside counsel, and let her employer decide the next steps.
Money laundering is an illegal method of "cleaning" dirty money obtained from criminal activity such as drug trafficking, embezzlement, and terrorist financing by passing it through legitimate businesses. Financial criminals try to avoid detection by disguising their dirty money as legal profit in this manner.
Traditional methods of money laundering include smurfing, using mules, and forming shell corporations.
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which of the following is not true? a) an american put option is always worth less than the present value of the strike price b) a european put option is always worth less than the present value of the strike price c) a european call option is always worth less than the stock price d) an american call option is always worth less than the stock price
Answers
Option A is not True. An American put option is always worth less than the present value of the strike price
Present value (PV) is the ongoing worth of a future amount of cash or stream of income given a predefined pace of return. Future incomes are limited at the rebate rate, and the higher the markdown rate, the lower the current worth representing things to come incomes. Deciding the fitting markdown rate is the way to appropriately esteem future incomes, whether they be profit or obligation commitments. Present worth is the idea that expresses a measure of cash today is worth more than that equivalent sum from now on. All in all, cash got in what's to come isn't worth however much an equivalent sum got today.
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Which of the following individuals would be considered unemployed when calculating the unemployment rate?
Answers
The unemployment rate is a statistics which shows the percentage of the labor force that are with a job in an economy in a given period of time
The individuals which would be considered as unemployed when calculating the unemployment rate includes:
People who are jobless.Individuals looking for a job.Individuals who available for work but are unemployed.The unemployment rate are used government to make important economic decision.
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Answer:
A 22-year-old teacher who recently lost his job and is currently looking for a new one
Explanation:
Individuals that are retired, under the age of 16, or currently employed are not considered when calculating the unemployment rate.
Hope this helps!
Mama C's Pizza instructs its telephone pizza order takers to pick up the telephone on the first ring and not to put customers on hold. When answering the telephone, an order taker must be energetic, friendly and let the customer hear the smile on his or her face. Mama C's guidelines for order takers' telephone answering behavior will influence which of the following service quality dimensions for Mama C's?
A) Reliability
B) Responsiveness
C) Assurance
D) Empathy
E) Tangibles
Answers
Answer:
B
Explanation:
it's responsiveness bc you're responding in a positive way and it looks better in the customer service world
100% on edge
a large portion of the morgage payments goes towards the pricipal during the early life of a mortgage loan true false
Answers
False. During the initial years of a mortgage loan, a significant portion of the mortgage payments goes toward the principal.
Describe a mortgage.Mortgages are a type of loan that can be used to purchase or maintain a home, a plot of land, or another real estate asset. The borrower commits to paying the lender on a regular basis, typically in the form of a number of installments that are divided into principal and interest. After that, the asset is used as loan collateral.
Before applying for a mortgage, borrowers must make sure they meet a number of requirements, including minimum credit scores and down payments. Mortgage applications undergo a thorough underwriting process prior to closing. The various mortgage types, such as fixed-rate and conventional loans, will depend on the borrower's needs.
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How many times has an inverted yield curve predicted a recession.
Answers
Answer:
\(says 10 - and - 2 \: yield \: curve \: has \: inverted \: 28 \: times \)
an investment adviser has a fee structure that states: assets under management annual fee 0 - $1,000,000 2.00% >$1,000,000 - $5,000,000 1.50% >$5,000,000 - $10,000,000 1.00% >$10,000,000 negotiable with client which statement is true about such an arrangement? a this is prohibited under nasaa rules because it favors customers with more assets under management b this is prohibited because advisers cannot have negotiable fees c this is permitted as long as the negotiated fee is less than 1% d this is permitted without restriction
Answers
This is permitted as long as the negotiated fee is less than 1% is TRUE about such an arrangement
What are Negotiated Fees?Negotiated fees are the sums that network dentists have consented to accept as full payment for services that are covered, less any co-payments, deductibles, cost-sharing, and benefit caps. Negotiated fees may be altered. A financial advisor cannot demand "unreasonable" fees. It is acceptable and reasonable to have a charge structure that lowers the fee % as the amount of assets managed increases. The adviser may also set negotiable fees, provided that they are fair and implemented consistently. As a result, the advisor may negotiate a cost for a client with $15,000,000 in assets to invest that is less than 1% (it could not be higher than 1% because doing so would result in the client being charged a higher fee than clients with lower investment amounts).The complete question is,
An investment adviser has a fee structure that states:
Assets Under Management Annual Fee
0 - $1,000,000 2.00%
>$1,000,000 - $5,000,000 1.50%
>$5,000,000 - $10,000,000 1.00%
>$10,000,000 Negotiable With Client
Which statement is TRUE about such an arrangement?
A. This is prohibited under NASAA rules because it favor customers with more assets under management
B. This is prohibited because advisers cannot have negotiable fees
C. This is permitted as long as the negotiated fee is less than 1%
D. This is permitted without restriction
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a variable that measures the effect that manipulating another variable has is known as:
Answers
Dependent variable .
The variable that measures the effect of manipulating another variable is known as the dependent variable.
The dependent variable is the outcome or response variable that is influenced by changes in the independent variable, which is the variable being manipulated. By manipulating the independent variable, researchers can observe and measure the impact it has on the dependent variable, allowing them to draw conclusions about the relationship between the two variables.
Therefore, the variable that measures the effect of manipulating another variable is known as the dependent variable.
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...hype me up ayeeee
Answers
Answer:
Fact: Some fungi create zombies, then control their minds
Explanation:
The tropical fungus Ophiocordyceps infects ants’ central nervous systems. By the time the fungi been in the insect bodies for nine days, they have complete control over the host’s movements. They force the ants to climb trees, then convulse and fall into the cool, moist soil below, where fungi thrive. Once there, the fungus waits until exactly solar noon to force the ant to bite a leaf and kill it.
Answer:
yes
Explanation:
Which type of chart or graph shows data with distinct x and y values?
O a bar graph
O a scatter plot
O a line chart
O a pie chart
Answers
Answer:
A. a bar graph is the answer
If average annual income for all workers is $37,000 and a person with a bachelor’s degree can expect to earn 32 percent more than average, what is the average annual income for persons holding bachelor’s degrees (round to the nearest thousand)?
Answers
Answer:
$48,840.00
Explanation:
If the average income is $37,000
A graduate expects to earn 32% above average.
The graduate will earn $37,000 +( 32% of $37,000)
=$37,000 +(32/100 + 37,000)
=$37,000 + $11,840.00
= $48,840.00
Answer:
49000
Explanation:
(source) TRUST ME
im being serious tho it is 49000
2. why was amazon’s 2014-16 cash flow from operations higher than its net income?
Answers
Amazon’s Cash Flow from Operations is higher than its Net Income due to the fact that cash flow from operations includes non-cash items such as depreciation and amortization, which are not included in net income.
Cash flow from operations is an important measure of a company's financial health and performance, and is often higher than net income. This is because cash flow from operations includes non-cash items such as depreciation and amortization, which are not included in net income.
Additionally, cash flow from operations includes any changes in working capital, such as changes in inventory, accounts receivable, and accounts payable. This means that Amazon's 2014-16 cash flow from operations was higher than its net income because of the inclusion of these non-cash and working capital items.
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w How does a training change a traditional profession into a modem profession? Discuss in the class.
Answers
Answer:
when one gains training he/she likes to do some works which gains much profit .he /she leaves the works which they worked for first time.
Gross domestic product (GDP) may be calculated as the sum of ______. Multiple choice question. exports and imports only consumer spending, investment spending, government transfer payments, and exports minus imports consumer spending, investment spending, government purchases of goods and services, and exports consumer spending, investment spending, government purchases of goods and services, and net exports
Answers
Answer:
consumer spending, investment spending, government purchases of goods and services, and net exports.
Explanation:
The Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
Gross domestic product (GDP) may be calculated as the sum of consumer spending, investment spending, government purchases of goods and services, and net exports (exports minus imports).
Basically, the four (4) major expenditure categories of GDP are consumption (C), investment (I), government purchases (G), and net exports (N).
T/F when the cost approach is a method used to value property, the land (but not the improvements) is typically valued under a market (or comparable sales) approach.
Answers
The statement is true because the cost approach is a method used to value property that involves estimating the cost of replacing the improvements on the property and then adding the land value.
When using the cost approach, the land is typically valued using the market (or comparable sales) approach, while the improvements are valued separately based on their replacement cost.
The market approach considers the value of similar properties in the area that have recently sold. This ensures that the land value accurately reflects the current market conditions, while the replacement cost of the improvements considers their specific attributes and condition.
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Monopolies that function in a capitalistic economy are likely to have prices determinedby:A. the law of supply.B. the law of demand.C. the interaction of supply and demand.D. equilibrium interaction.E. government regulation.
Answers
Monopolies that function in a capitalistic economy are likely to have prices determined by government regulation.
When one seller or producer obtains a dominant position in an industry or a sector, it becomes a monopoly. Monopolies are strictly forbidden in free-market economies since they restrict consumer options and hinder rivalry. Some monopoly, like those in the utilities sector, are subject to government regulation.
Public monopolies provide essential services and goods, such those in the utility industry, where a region frequently only has access to one company for its water or electricity needs. Government communities are in charge of rates and rate increases as well as permitting and tight regulation of monopolies. Monopolies have the authority to determine prices and put up barriers to entry for competing companies.
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Not super sure about this question....
Answers
Answer:
Don't use the word super. Being sure is either you know or don't know.
Explanation:
Just ask a repeat of the question and then if you are unsure, tell the teacher.
PLEASE HELP ASAPP
PLEASE MAKE THE ANSWER CLEAR EASY TO UNDERSTAND YOU DONT NEED TO EXPLAIN THANK YOU.
Answers
Answer:
health insurance/current total (gross NOT net) and move your decimal over =%
Explanation:
Which team role makes treatment decisions and assigns roles.
Answers
The team role that makes treatment decisions and assigns roles is : Team leader.
Who is a team leader?A team leader is someone who oversees the functionality of a workgroup by providing guidance and instruction.
Team leader monitor the progress of a team throughout the duration and successful completion of a project.
Qualities of a good team leader are :
Achieve goals in good time.Good leaders make a decisive commitment to a vision.Successful team leaders speak well and listen better.There, the team role that makes treatment decisions and assigns roles is the team leader.
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What is the basis of the law of demand?
Group of answer choices
Self-interested behavior
Marginal utility
Utility curves
Market timing
Answers
market timing
Explanation:
because that way u wont miss customers
Lotteries L1 and L2 have the same expected value. L2 has a smaller variance and you are risk averse. What can you say about your RP? a. Your RP for L1 is higher than RP for L2. b. Your RP for L1 is lower than your RP for L2. c. Your RP for the two lotteries are the same as they give the same expected value. d. Not enough information to say anything.
Answers
Lotteries L1 and L2 have the same expected value. L2 has a smaller variance and you are risk averse. We can say that Your RP for L1 is higher than RP for L2. The correct option is (a). Risk aversion is the tendency to prefer a sure outcome over a gamble with a higher expected value but higher risk.
What can you say about your RP? RP is the expected value of a utility function that is applied to the outcome of a lottery. To calculate RP, you need to know the utility function of the individual.The utility function represents how much the individual values the different outcomes of a lottery.
In general, a person's utility function is concave, which means that they are risk-averse. The concavity of the utility function means that a sure outcome with a lower expected value is preferred over a gamble with a higher expected value but higher risk.In the given case, Lotteries L1 and L2 have the same expected value, but L2 has a smaller variance. This means that the outcomes of L2 are less dispersed than those of L1. If you are risk-averse, you will prefer L2 over L1. Your RP for L2 is higher than your RP for L1.
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