On April 2, Granger Sales decides to establish a $340 petty cash fund to relieve the burden on Accounting.
a. Journalize the establishment of the fund. If an amount box does not require an entry, leave it blank.
Apr. 2
b. On April 10, the petty cash fund has receipts for mail and postage of $38, contributions and donations of $20, and meals and entertainment of $119, and $160 in cash
Journalize the replenishment of the fund. If an amount box does not require an entry, leave it blank.
Apr. 10
c. On April 11, Granger Sales decides to increase petty cash to $440. Journalize this event. If an amount box does not require an entry, leave it blank.
Apr. 11
Answers
a. To journalize the establishment of the $340 petty cash fund on April 2: Debit: Petty Cash - $340Credit: Cash - $340
b . The company replenishes the petty cash fund by debiting the appropriate expense accounts (Mail and Postage, Contributions and Donations, Meals and Entertainment) for their respective amounts and crediting the Cash account for the total of those expenses.
c . The company increases the petty cash fund by debiting the Petty Cash account and crediting the Cash account for the difference between the new petty cash amount and the previous amount, which is $100.
a. Journal entry on April 2 to establish the petty cash fund:
Petty Cash Fund $340
Cash $340
b. Journal entry on April 10 to replenish the petty cash fund:
Mail and Postage Expense $38
Contributions and Donations Expense $20
Meals and Entertainment Expense $119
Cash $160
Petty Cash Fund $337
c. Journal entry on April 11 to increase the petty cash fund:
Petty Cash Fund $100
Cash $100
including the terms you mentioned:
a. To journalize the establishment of the $340 petty cash fund on April 2:
April 2:
Debit: Petty Cash - $340
Credit: Cash - $340
The company establishes the petty cash fund by debiting the Petty Cash account and crediting the Cash account for the same amount.
b. To journalize the replenishment of the fund on April 10:
April 10:
Debit: Mail and Postage - $38
Debit: Contributions and Donations - $20
Debit: Meals and Entertainment - $119
Credit: Cash - $177
The company replenishes the petty cash fund by debiting the appropriate expense accounts (Mail and Postage, Contributions and Donations, Meals and Entertainment) for their respective amounts and crediting the Cash account for the total of those expenses.
c. To journalize the increase of petty cash to $440 on April 11:
April 11:
Debit: Petty Cash - $100
Credit: Cash - $100
The company increases the petty cash fund by debiting the Petty Cash account and crediting the Cash account for the difference between the new petty cash amount and the previous amount, which is $440 - $340 = $100.
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Related Questions
5 methods that maybe used to engage in trade w within the business environment.
Answers
The five main factors that influence international trade are: the existence of government regulations, variances in technology, variations in resource endowments, variations in demand, and the availability of economies of scale.
What techniques are employed to regulate global trade?Governments primarily use tariffs, subsidies, and quota systems to impose trade restrictions. A quota system places limits on the quantity of commodities that may be imported into a nation. Governments can limit the amount of imports to assist safeguard native businesses by using quota systems.
What drives people to trade?Trade is essential to the prosperity of the United States because it boosts economic expansion, promotes domestic employment, raises living standards, and enables citizens to sustain their families with reasonably priced goods and services.
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HELP ILL GIVE A CROWN TO WHOEVER IS RIGHT BUT PLZ HeLP
Alejandro lives in a small apartment, within walking distance to school. He takes the bus to work where he makes $10 per hour after taxes and works 30 hours per week. He wants to save money to buy a $6000 car within the next 2 years. How could a monthly budget be created to help Alejandro meet his financial goals? Select the best option.
Monthly Budget
Budget A
Budget B
Budget C
Budget D
Income
$1,500
$1,500
$1,200
$1,200
Expenses-
Rent
Utilities
Food
Bus Pass
Savings
$600
$100
$150
$25
$250
$600
$100
$550
$25
$250
$600
$100
$250
$25
$250
$600
$100
$150
$25
$250
a.
Budget A
b.
Budget B
c.
Budget C
d.
Budget D
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer:
um look and ctrl C my link and it have the answer
Explanation:
um that should also give ur answer too
https://quizlet.com/68451633/personal-finance-flash-cards/
Answer:
The answer is Budget D
Explanation:
the following selected information pertains to wilson company. current liabilities: $100; long-term liabilities: $150; contributed capital: $120; retained earnings: $50; accumulated other comprehensive income: $20. the company's debt to equity ratio (rounded to two digits after the decimal point) is
Answers
The Debt to Equity Ratio for Wilson Company is 1.21. This is calculated by dividing the total liabilities (Current Liabilities + Long-Term Liabilities = $100 + $150 = $250) by the total equity (Contributed Capital + Retained Earnings + Accumulated Other Comprehensive Income = $120 + $50 + $20 = $190).
What is Ratio?
A ratio is a comparison of two or more related numbers or quantities. Ratios can be expressed in different ways, including fractions, decimals, and percentages. Ratios can also be used to represent relationships between two or more pieces of data in a meaningful way. Ratios are used to compare values within a single group, between different groups, or between one group and the total. Ratios are useful for making comparisons, understanding trends, and helping to make decisions.
Therefore, $250/$190 = 1.21.
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If a preferred stock from ADV Corp. pays $5.55 in annual dividends, and the required return on the preferred stock is 12.0 percent, what's the current value of the stock?
A. $45,50
B. $46.25
C. $47.25
D. $47.50
Answers
The correct answer is option C. $47.25. Preferred stock is an investment type that is between a bond and a common stock.
Preferred stock pays dividends, but not as a fixed amount like a bond; instead, the dividend payment fluctuates based on a percentage of the stock's par value, which is the face value of the stock when it was first issued.
In the formula for valuing a preferred stock, we use this payment amount and the required rate of return to figure out the value of the stock.
To calculate the current value of the stock, we'll use the following formula:
P = Annual dividend payment / Required rate of return
P = $5.55 / 0.12 = $46.25
The current value of the stock, according to the above calculation, is $46.25.
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The annual master budget file includes the ________ from last year because it is needed for the schedule of expected cash collections.
Answers
The complete sentence is summarized below:
The annual master budget file includes the budget from last year because it is needed for the schedule of expected cash collections.
A sentence about annual master budget files
Annual master budget files are a collection of files with detailed lists of cash movements inside, from and to a business. This information is useful to predict and estimate expected cash movements and to construct expected budget in terms of costs and time for the next fiscal year.
For this reason, an annual master budget file must include the budget from last year. The complete sentence is summarized below:
The annual master budget file includes the budget from last year because it is needed for the schedule of expected cash collections.
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Reflect on the structure of the House and Senate, and the reasons why the Founding Fathers structured them differently. In your opinion, does this structure still serve a purpose?
Answers
The House of Representatives and the Senate are the two chambers of the United States Congress. The Founding Fathers structured the House and Senate differently for various reasons.
Each state's population determines the number of representatives a state can have. The House of Representatives has 435 members, and each representative serves a two-year term. The Senate, on the other hand, is the upper house, and it has two members from each state, regardless of population. Each senator serves a six-year term. The Founding Fathers structured the two houses differently to give different segments of the population different representation, as they believed that each state deserved equal representation.In my opinion, the structure of the House and Senate still serves a purpose today. It ensures that the interests of both the larger and smaller states are taken into account, as well as ensuring that there is balance and stability in the legislative process.
The House and Senate structure also provides an effective check and balance system that prevents any one branch of government from becoming too powerful.
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show the vegetable market of nepal in pyramid
Answers
Due to massive increases in agriculture and production area over the last two decades, per capita vegetable consumption has increased to 105 kg from 60 kg. Nepal has reported 3,243,521 vegetable holdings. Vegetable crops are grown on a total of 232,295 hectares of cultivable land.
What is market?A market is a collection of systems, institutions, procedures, social relations, or infrastructures through which parties exchange goods and services. While parties can barter for goods and services, most markets rely on sellers offering their goods or services to buyers in exchange for money. The exchange of goods and services that occurs as a result of buyers and sellers coming into contact with one another, either directly or through mediating agents or institutions, is referred to as a market.A market is defined as the total number of buyers and sellers in the area or region under consideration. The area could be the entire planet, a country, a region, a state, or a city.To learn more about market, refer to:
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The following are examples of the functions of an office.
a. Visions and responsibility
b. Aims and profits
c. Production and preservation of data
d. Customers and responsibility
Answers
Answer:
?
Explanation:
?
Which of the following is the CORRECT order of dividend payment process? O Declaration Date - Payment Date - Ex-Dividend Date - Record Date O Record Date - Ex-Dividend Date - Declaration Date - Payment Date O Declaration Date - Ex-Dividend Date Record Date Payment Date O Ex-Dividend Date Declaration Date Record Date Payment Date
Answers
The CORRECT order of dividend payment process is: Declaration Date - Ex-Dividend Date - Record Date - Payment Date. The correct option is c.
This means that the first step in the process is the declaration date where the company's board of directors decides to pay a dividend to shareholders.
Next is the ex-dividend date, which is the date when the stock trades without the dividend.
After that comes the record date, which is the date when shareholders who are eligible to receive the dividend are identified.
Finally, the payment date is when the actual dividend payment is made to shareholders.
It is important for investors to understand this process because it helps them determine whether they are eligible to receive a dividend payment.
For example, if an investor buys a stock after the ex-dividend date, they will not receive the dividend payment for that quarter. Similarly, if an investor sells a stock before the ex-dividend date, they will not be eligible to receive the dividend payment.
Overall, understanding the dividend payment process is important for investors to make informed decisions about buying and selling stocks.
By knowing the key dates involved in the process, investors can ensure that they are maximizing their potential returns on their investments.
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who will win the fight tomorrow jake paul or ben askren
winner gets brainlest
Answers
Answer:
prolly ben askren
Explanation:
cause he was an ameture wrestler before
Answer: Ben askren bro
Explanation:
As long as price exceeds AVC, the firm is better off A) continuing production C) cutting price B) closing D) raising its price.
Answers
The company is better off sustaining manufacturing as long as price exceeds AVC.
AVC stands for average variable cost, which is the cost of producing one unit of output. As long as price exceeds AVC, the firm is covering its variable costs and making a contribution towards its fixed costs and profits.
Therefore, it would be better off to continue production. Cutting the price may result in lower profits or losses, closing the business is not necessary if it is making a contribution towards its fixed costs, and raising the price may not be possible if there is competition in the market.
When the price is greater than AVC, it means the firm is covering its variable costs and contributing to its fixed costs. In this situation, continuing production is the best option, as it allows the firm to minimize losses or potentially make a profit.
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does this sentence i wrote make sense:
“Not only this, but as a gateway to contribute to saving the planet.”
Answers
Can't we run a business without training?
Answers
yes definitely.......
Having a corporate code of ethics that prohibits employees from accepting gifts from customers or vendors is an example of which component of internal control?.
Answers
Having a corporate code of ethics that prohibits employees from accepting gifts from customers or vendors is an example of control environment.
Employees perform unique responsibilities and duties for employers in change for compensation. commonly, they paintings in a full-time, element-time or brief potential. personnel satisfy sure job obligations and roles, most usually described within the task listing. The dictionary definition of “employee” says succinctly that an worker is “someone who works for any other in return for economic or different compensation.”three underneath that definition, independ- ent contractors would seem like personnel. An enterprise is an enterprise, organization, authorities entity, organisation, employer, professional offerings firm, nonprofit association, small business, shop, or man or woman who employs or places to work, a person who's called an employee or a team of workers member.
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An expected output over the life of a project would be classified as.
Answers
The answer is: A deliverable
The goal of the consumer in a market economy is to use his or her limited income to buy?
Answers
The set of goods and services that maximizes the consumer's total utility.
The goal to maximize utility drives consumer behavior.
What are Consumer Rights?The purpose of consumer rights is to safeguard customers' interests and shield them from unethical actions like hoarding and widespread black marketing. It is crucial that, as a consumer, you remain informed about the caliber, potency, quantity, purity, pricing, and standard of goods and services.Since customers have long been exploited in the marketplace, a widespread effort to stop this practice began in the 1960s and spread across the nation. In the following ten years, several articles were published, and protests took place, giving it a strong shape.To learn more about Consumer Rights, refer to:
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(02.10 LC) What strategy works best to get out of a rut?
A) Attitude
B) Belief
C) Flexibility
D) Selling out
Answers
Answer is C Flexibility because that's the only thing that goes in the exercise category.
Explanation: I hoped that Helped!!
Answer:
Flexibility.
Explanation:
Cognitive flexibility refers to the brain’s ability to transition from thinking about one concept to another. The quicker you are able to switch or “shift” your thinking from one dimension (e.g. color of an object) to another (e.g. shape of an object), the greater your level of cognitive flexibility.
Which of the following is a sign of a strong economy?
Answers
Answer: Here are a few signs:
Explanation: There is much to sell and the buissness is booming. The country/state/area is able to get the food and water and etc for their country and have a lot of money.
Hannah is a real estate assistant. her broker has asked her to be available for tasks in the field rather than in the office. what would we call hannah?
Answers
Hannah is a real estate assistant can also be called an independent contractor.
What does an independent contractor do?An independent contractor is known to be anyone that is said to be self-employed.
They can be a consultant, lawyer, accountant, agent, engineer or any other kind of work which a person is known to provides services to other firms or people for a fee.
Therefore, based on the scenario given, Hannah is a real estate assistant can also be called an independent contractor.
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E-mail is usually a formal mode of business communication. Please select the best answer from the choices provided T F.
Answers
Answer:
F
Explanation:
No because at those formal period email wasn't created the formal mode of business communication was letter through the use of type writters
Answer:
false
Explanation:
What are 3 reasons for having a checking account?
Answers
The major reason for having the checking account are financial safety, easy access to your funds, savings from check-cashing fees, and overall financial peace of mind.
Checking account:
In accounting, checking account is the type of bank account that allows you to easily deposit and withdraw money for daily transactions.
Given,
Here we need to find the 3 reasons for having a checking account.
Based on the given definition we know that the checking account is the that is perfectly suitable for the daily transactions actions.
Therefore, the reason behind the usage of checking account is listed as,
=> helps you manage your day-to-day finances, such as paying your bills,
=> receiving direct deposit of your paycheck, and
=> withdrawing cash from an ATM.
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Most auditors believe that financial statements are "presented fairly" when the statements are in accordance with GAAP, and that it is also necessary to Group of answer choices determine that they are not in violation of FASB statements. assure investors that net income reported this year will be exceeded in the future. examine the substance of transactions and balances for possible misinformation. review the statements using the accounting principles promulgated by the SEC.
Answers
Answer:
examine the substance of transactions and balances for possible misinformation.
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP).
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.
An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.
Most auditors are of the opinion that financial statements are "presented fairly" when the statements are in accordance with Generally Accepted Accounting Principles (GAAP).
Additionally, most auditors believe that it is necessary to examine the substance of transactions to determine whether or not they are authentic or genuine and check the balances for possible misinformation.
11. Which of these does NOT represent a type of credit?
*
1 point
A certificate of deposit (CD)
A credit card
A mortgage
Answers
A certificate of deposit (CD) does not represent a type of credit.
A certificate of deposit (CD) does not represent a type of credit. A certificate of deposit is a financial instrument offered by banks and credit unions that allows individuals to deposit a certain amount of money for a fixed period of time, typically ranging from a few months to several years. In return, the financial institution pays the depositor a fixed interest rate.
Unlike credit cards and mortgages, which involve borrowing money, a CD involves depositing money with the financial institution. The individual essentially lends money to the institution, and in return, earns interest on the deposited amount. The interest rate offered on a CD is predetermined and agreed upon at the time of purchase.
CDs are considered to be a low-risk investment option because they are typically insured by the government up to a certain amount. They provide a stable and predictable return on investment, making them attractive to individuals who prioritize safety and want to preserve their principal.
In summary, while credit cards and mortgages involve borrowing money, a certificate of deposit is not a type of credit. Instead, it is a financial instrument that allows individuals to deposit money with a financial institution and earn a fixed interest rate over a specified period of time.
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as part of a team you are assigned to create appointment to report one of your asses to put people together and another team sent them to you you already have the title page summary and introduction in the place next you should put the A.table of contents B.appendices C.main body D.conclusion and recommendation
Answers
Answer: C.
Explanation:
Can somebody help me figure out what he means by this assignment. Don't actually do it but like explain it to me
Answers
Answer:
It seems like u have to see what companies did to help out like did they raise how much the get paid in hour I hope this helps.
Explanation:
1; Choose a business or an industry that is considered as a perfect market and explain which characteristics of a perfect market are not met by this business or industry.
Answers
Answer:
hey what kind of watch is that in your profile pic
The activities of the federal reserve board have the most direct influence on.
Answers
Answer:
The activities of the Federal Reserve Board have the most direct influence on: bank interest rates, monetary policy (interest rates, credit, etc.)
are partnerships that provide professional and noncommercial assistance or advice.
Trading partnerships
Non-trading partnerships
General partnerships
Hi Special partnerships
Answers
Answer:
Non-trading partnerships
Explanation:
The non-trading partnership is a partnership that provides the professional and uncommercial advice or suggestions in terms of legal, medical, accounting, etc. Here all the partners have an active role for managing the business also they have unlimited liability with respect to any claim that against the firm
Therefore as per the given situation, the second option is correct
Explain how an investor makes money by investing in bonds
Answers
Answer:
Financial investors earn money through the purchase of bonds, be these public (of countries or states) or private (that is, of companies) through speculation regarding the rise or fall of their value with respect to the purchase value, as well as with the interest that these bonds accrue periodically.
Thus, if the bond rises in value due to a good economic performance by the issuer, investors can sell it and make a profit, or even buy bonds at times of low values, expecting increases.
Mr.Crimpson is an economist. During the course of each day, he studied how to meet limited wants with limited resources.
True or False?
Answers
Answer:
True
Explanation:
Economic analysis is an analysis about how to fulfill infinite, overlapping needs with minimal capital. It's the method of determining how to "do the best from the least"—to have the most fulfillment with both the least amount of money and resources.