Operates an imprest system of petty cash. It uses K100 as a float to operate this imprest system. From the following petty cash transactions, you are required;
1. to post the transactions to the petty cash book table and
2. balance the cash book and show the reimbursement cheque amount in the petty cash book.
2021
Feb 1
2
7
12
Transactions
Received K100 for petty cash
Paid bus fare
Paid cartage
Paid for postage
Paid for stationary
Bus fare
Cartage
Postage
Refreshment to customers
K
K100
0,50
2.50
5.00
4.00
1.00
4.00
7.00
5.00
19
21
27
27
28
Use this petty cash book format and expense classifications below.
Petty cash book
Receipts Date
K
Particulars
Stationery Postage Sundries
Total Conveyance Cartage
K
K
K
K
K
K​

Nichols inc. manufactures remote controls. currently the company uses a plantminuswide rate for allocating manufacturing overhead. the plant manager is considering switchingminusover to abc costing system and has asked the accounting department to identify the primary production activities and their cost drivers which are as follows: activities cost driver allocation rate material handling number of parts $5 per part assembly labor hours $20 per hour inspection time at inspection station $10 per minute the current traditional cost method allocates overhead based on direct manufacturing labor hours using a rate of $20 per labor hour. what are the indirect manufacturing costs per remote control assuming an method is used and a batch of 10 remote controls are produced? the batch requires 100 parts, 5 direct manufacturing labor hours, and 3 minutes of inspection time.

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period

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?