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PolarNik [594]
2 years ago
11

intext:"Pelcher Co. maintains a $400 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that d

ate represent $110 for office supplies, $140 for merchandise inventory, and $70 for miscellaneous expenses. There is a cash overage of $4. Based on this information, the amount of cash in the fund before the replenishment is"
Business
1 answer:
olga2289 [7]2 years ago
8 0

Answer:

$84

Explanation:

Calculation for the amount of cash in the fund before the replenishment for Pelcher Co.

Petty Cash $400

Less : Office Supplies ($110)

Less: Merchandise Inventory ($140)

Less :Miscellaneous ($70)

Add Cash Overage $4

Cash in Fund $84

Therefore the amount of cash in the fund before the replenishment for Pelcher Co will be $84

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Answer:

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Explanation:

We know that

Debt to equity ratio = Debt ÷ total equity

0.6 = $360,000 + $120,000 ÷ total equity

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In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:  

Total assets = Total liabilities + stockholder equity  

                    = $480,000 + $800,000

                    = $1,280,000

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