Business, 18.02.2020 01:07 arrow87654

Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was 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 - $ 61
December 7 - Delivery charge for shipping to customer - $ 85
December 12 - Purchase of office supplies - $ 50
December 18 - Donation to charitable organization - $ 69
If, in addition to these receipts, the petty cash fund contains $227.25 of cash, the journal entry to reimburse the fund on December 31 will include:
a. A debit to Petty Cash of $111.
b. A credit to Cash Over and Short of $7.75.
c. A credit to Cash of $272.75.
d. A credit to Office Supplies of $85.
e. A debit to Transportation-In of $111.

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 14:50

Pederson company reported the following: manufacturing costs $480,000 units manufactured 8,000 units sold 7,500 units sold for $90 per unit beginning inventory 2,000 units what is the average manufacturing cost per unit? (round the answer to the nearest dollar.)

Answers: 3

Answer

Business, 22.06.2019 20:30

The former chairman of the federal reserve, alan greenspan, used the term "irrational exuberance" in 1996 to describe the high levels of optimism among stock market investors at the time. stock market indexes such as the s& p composite price index were at an all-time high. some commentators believed that the fed should intervene to slow the expansion of the economy. why would central banks want to clamp down when the economy is growing? a. to block the formation of unsustainable speculative asset bubbles. b. to curtail excessive profits in the banking system. c. to prevent inflationary forces from gathering momentum. d. all of the above. e. a and c only.

Answers: 3

Answer

Business, 22.06.2019 23:40

8. problems and applications q8there are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: consumers' willingness to payyvette: $35cho: $15sean: $45bob: $25firms' costsfirm a: $40firm b: $20firm c: $10firm d: $30each firm has the capacity to produce only one haircut.for should be given.which businesses should cut hair? check all that apply.firm afirm bfirm cfirm dwhich consumers should have their hair cut? check all that apply.bobchoseanyvettethe maximum possible total surplus is

Answers: 3

Answer

Business, 23.06.2019 02:00

When the two countries did not specialize, the total production of jeans was 23 million pairs per month, and the total production of corn was 68 million bushels per month. because of specialization, the total production of jeans has increased by million pairs per month, and the total production of corn has increased by million bushels per month. because the two countries produce more jeans and more corn under specialization, each country is able to gain from trade?

Answers: 1

Answer

You know the right answer?

Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the...

Questions