Palmona co. establishes a $200 petty cash fund on january 1. on january 8, the fund shows $38 in cash along with receipts for the following expenditures: postage, $74; transportation-in, $29; delivery expenses, $16; and miscellaneous expenses, $43. palmona uses the perpetual system in accounting for merchandise inventory. prepare journal entries to (1) establish the fund on january 1, (2) reimburse it on january 8, and (3) both reimburse the fund and increase it to $450 on january 8, assuming no entry in part 2. (hint: make two separate entries for part 3.)
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Business, 22.06.2019 08:30
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Business, 22.06.2019 13:00
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Business, 22.06.2019 16:40
An electronics store is running a promotion where for every video game purchased, the customer receives a coupon upon checkout to purchase a second game at a 50% discount. the coupons expire in one year. the store normally recognized a gross profit margin of 40% of the selling price on video games. how would the store account for a purchase using the discount coupon?
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Business, 22.06.2019 19:50
Which of the following would create the most money? the initial deposit is $6,500 and the required reserve ratio is 20 percent. the initial deposit is $3,000 and the required reserve ratio is 10 percent. the initial deposit is $7,500 and the required reserve ratio is 25 percent. the initial deposit is $4,500 and the required reserve ratio is 15 percent.
Answers: 1
Palmona co. establishes a $200 petty cash fund on january 1. on january 8, the fund shows $38 in cas...
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