answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ira Lisetskai [31]
2 years ago
13

Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $400. The fund wa

s last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 Freight charge for merchandise purchased $ 62 December 7 Delivery charge for shipping to customer $ 46 December 12 Purchase of office supplies $ 30 December 18 Donation to charitable organization $ 51 If, in addition to these receipts, the petty cash fund contains $201 of cash, the journal entry to reimburse the fund on December 31 will include:
Business
1 answer:
Sergio [31]2 years ago
7 0

Answer:

A credit to Cash of $299

Explanation:

Journal Entry                     Debit    Credit

Merchandise inventory      $62

Delivery charges                 $46

Office supplies                    $30

Miscellaneous expenses    $51

Cash over and short             $100

Cash                                                   $299

Cash to be reimbursed = Minimum cash balance required - Cash balance left

Cash to be reimbursed = $500 - $201

Cash to be reimbursed = $299

You might be interested in
When launching any technology product, a firm such as GoPro must create a balance between what is technically possible and wheth
guapka [62]

Answer:

Whether the technology provides benefits and responds to customers needs

Explanation:

Technological innovation can be defined as the introduction of new technical products and services or improving an existing ones.

One major reason for this is to address human needs and better serve individual . Therefore whenever any firm wants to launch any new product , it is important that it must create a balance between what is technically possible and whether the new technology provides benefits and responds to customers needs.

3 0
1 year ago
At a sales volume of 40,000 units, Lonnie Company's total fixed costs are $40,000 and total variable costs are $60,000. The rele
eduard

Answer:

$115,000

Explanation:

Calculation for the total expected cost

First step is to find the variable cost per unit

Variable costs per unit= 60,000/40,000

Variable costs per unit= 1.50 per unit.

Second step is to find the Total variable costs

Total variable costs =50,000 units × 1.50 per units

Total variable costs=$75,000

Last step is add the total fixed costs of the amount of $40,000 to the Total variable costs of $75,000

Total expected cost =$75,000+$40,000

Total expected cost =$115,000

Therefore the total expected cost will be $115,000

3 0
1 year ago
Tanner, Inc. incurred a financial and taxable loss for 2018. Tanner therefore decided to use the carryback provisions as it had
jeka94

Answer:

Carry-back should be reported as a benefit

Explanation:

Tanner, Inc. is a company which has suffered a loss in 2018, and they have planned to use carry-back provisions because they generated profit. It is compulsory to report the provision in the 2018 financial statement. Overall, tanner, Inc. must report carry-back profits as a benefit in 2018 financial statement, because of the loss they received in 2018.

8 0
2 years ago
Chill, a beverage manufacturer, offers varied versions of its products that include diet, cherry, vanilla and caffeine-free vers
STatiana [176]

Answer:

<em>A differentiated market</em>

Explanation:

<em>Whenever a business produces initiatives that cater to at least two product categories or targeted groups, a differentiated marketing strategy is applied</em>.

For instance, a retailer may encourage a purchase in at least two towns or locations that caters to people, or even a business can market a brand which appeals to women in at least two age categories.

7 0
2 years ago
Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. The home comes equipped with all furnishings. T
sweet-ann [11.9K]

Answer: package mortgage

Explanation:

From the question, we are informed that Mr and Mrs. Haley are purchasing beachfront property in an upscale development and that the home comes equipped with all furnishings.

We are further told that the Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. This shows that they are looking for package mortgage.

A package mortgage is a form of mortgage whereby the personal property and the furniture will have to be included when buying the house.

8 0
1 year ago
Other questions:
  • There are 3 teachers to every 57 students at Oakdale Middle SchooL If there are 798 students in the school, how many teachers ar
    6·1 answer
  • (Prepared from a situation suggested by Professor John W. Hardy.) Lone Star Meat Packers is a major processor of beef and other
    7·1 answer
  • The subscription manager at Cosmopolitan magazine keeps track of the subscription renewal rate, which is a good measure of custo
    6·2 answers
  • A quality improvement project was initiated in an industry that has seasonal demand for their product, coolers/ice chests, which
    9·1 answer
  • Rainey Enterprises loaned $45,000 to Small Co. on June 1, Year 1, for one year at 6 percent interest. Required a. Record these g
    13·1 answer
  • Solartech Corporation, a U.S. exporter, sold a solar heating station to a Japanese customer at a price of 143.5 million yen, whe
    12·1 answer
  • On January 1, Year 1, Stratton Company borrowed $100,000 on a 10-year, 7% installment note payable. The terms of the note requir
    10·1 answer
  • Companies HD and LD have identical tax rates, total assets, and return on invested capital (ROIC), and their ROIC exceeds their
    12·1 answer
  • 9. Bayarmaa owns land with an adjusted basis of $610,000 subject to a mortgage of $350,000. On April 1, Bayarmaa sells her land
    8·1 answer
  • When a company has an obligation or right to repurchase an asset for an amount greater than or equal to its selling price, the t
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!