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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

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Eloise, an engineer for an oil company, is interested in working overseas at this stage of her life because she knows that forei
Fudgin [204]

Eloise, an engineer for an oil company, is interested in working overseas at this stage of her life because she knows that foreign work experience demonstrates independence, resourcefulness, and entrepreneurship  to potential employers.

<u>Explanation:</u>

The work experience in foreign demonstrates the skills that includes, confidence, independence, Adventure sense, Sense of ambitions, adaptability and open minded nature. Working at overseas helps in increasing the confidence. It also improves the sense of being adventurous and make the individual more independent.

When the independent nature of an individual gets enhanced, he or she will develop a sense of being an entrepreneur. There will be a lot of resources inside the mind of an individual with which he or she can start a own business.

7 0
2 years ago
U.S. residents accounted for over 75 percent of cruise ship passengers, and U.S. ports had 8 million passengers leaving on cruis
Sergeeva-Olga [200]

Answer: External opportunity

Explanation:

External opportunities are legal, political, economical, social, technological, environmental and cultural factors that may benefit an organization. External opportunities are beyond the control the organization.

In the scenario illustrated, the act of terrorism in the United States on 11th September 2001, led to a growth in cruise travel. This is an example of external opportunity as the growth wasn't caused by an internal factor.

5 0
2 years ago
Lana owns a house worth $325,000 and has a mortgage of $245,000. She owns a guitar worth $750. She also owns a car worth $15,000
diamong [38]

Answer:

$96,850

Explanation:

The net worth refers to the value of all the assets owned by a person or entity minus the value of all the liabilities. In Lana's case the assets are:

House $325,000

Guitar $750

Car $15,000

Stock investments $8,000

Savings Account $2,100

Total value of assets: $350,850

Lana's Liabilities:

Mortgage $245,000

Car loans $9,000

Total value of liabilities: $254,000

So, Lana's net worth would be:

$350,850-$254,000= $96,850

8 0
2 years ago
Read 2 more answers
Margaret incurred one personal casualty loss caused by a federally declared major disaster in 2019. The amount of the loss, afte
iogann1982 [59]

Answer:

$0

Explanation:

There are two Step for the computation of casualty loss deduction if the casualty loss is personal

Step 1  Reduce $100 per casualty event from the casualty loss

Step 2 Reduce 10% of the AGI from the amount you get from step 1

Data

Loss = $2,500

AGI = $35,000

Deduction =?

Solution

Step 1 =  $2,500 - $100 = $2,400

Step 2: $2,400 - ($35,000 x 10%) = $0

If the amount in step 2 is $0 then the person is not eligible for casualty loss deduction  

8 0
2 years ago
Pristine products, a wholesaler, uses a periodic inventory system. at year-end, pristine conducts a physical inventory count to
k0ka [10]
<span>how much of their company's merchandise is being sold, how much of it has been damaged, how much has gone out of style or is out of season. Once the inventory is taken, Pristine products should be able to project how much product needs to be manufactured and sold going forward so that they do not work at a loss of profits.</span>
6 0
2 years ago
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