Spencer company has a $290 petty cash fund. at the end of the first month the accumulated receipts represent $52 for delivery expenses, $163 for merchandise inventory, and $21 for miscellaneous expenses. the fund has a balance of $54. the journal entry to record the reimbursement of the account includes a? a. debit to cash over and short for $54. b. credit to cash for $236. c. credit to inventory for $163. d. debit to petty cash for $290. e. credit to cash over and short for $54.
Answers
The journal entry to record the reimbursement of the account includes a credit to cash for $236. The correct option is b.
To start with, petty cash funds are small amounts of cash that companies use to make small purchases, such as office supplies or food for a company event. When the fund gets low, it needs to be replenished. In this case, Spencer company has a $290 petty cash fund. At the end of the first month, the accumulated receipts represent $52 for delivery expenses, $163 for merchandise inventory, and $21 for miscellaneous expenses. The fund has a balance of $54.
To record the reimbursement of the account, the company would need to credit the petty cash account and debit the appropriate expense accounts. In this case, we need to credit the petty cash account for $290 to replenish the fund, and debit the delivery expenses account for $52, the merchandise inventory account for $163, and the miscellaneous expenses account for $21.
So, the journal entry to record the reimbursement of the account would be:
Debit: Delivery Expenses - $52
Debit: Merchandise Inventory - $163
Debit: Miscellaneous Expenses - $21
Credit: Petty Cash - $290
Notice that the total of the debits is $236, which represents the total of the expenses paid out of the petty cash fund. The credit to the petty cash account is for $290, which replenishes the fund. The answer that matches this journal entry is b. credit to cash for $236.
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Related Questions
People were highly critical of R. J. Reynolds's Joe Camel campaign because the spokesperson was designed to look like a cartoon character. When sales pitches resemble elements of prime-time programming, they are called:
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The answer is Entertainomercials.
This word is a combination of two words which are entertainment and commercials. Therefore, entertainomercials mean to characterize sales pitches that resemble entertaining programs.
In other words, when we pitch our sales by using the medium of entertainment media it is called entertainomercials.
Since in the given case, the spokesperson was designed to look like a cartoon character it becomes entertainomercials. As the sales pitch included a cartoon character which let's assume is famous.
Hence, when sales pitches resemble elements of prime-time programming, they are called entertainomercials.
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Which trend has the world bank seen in its study of poverty in low-income nations?.
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A trend that the World Bank has noticed in its study of low-income nations is b. More women live in poverty than men.
Why is this a trend?In low-income countries, there is a lot of inequality between men and women with women being denied opportunities.
This has led to a situation where women live in more poverty than men because they lack the means to uplift themselves and are forced to depend on men.
In conclusion, option B is correct.
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How long will it take $700 to double if it earns the following rates? Compounding occurs once a year. Round your answers to two decimal places.
a. 5%.
_____ year(s)
b. 14%.
______year(s)
c. 17%.
_____year(s)
d. 100%.
____ year(s)
Answers
To double the amount, we need to know the concept of Rule of 72.
The rule of 72 is a simple method to estimate the doubling time for an investment that grows at a fixed annual rate of interest. The formula for calculating the number of years required to double the initial investment amount is as follows:
Number of years = 72/Rate of Interest
Where "Rate of Interest" is the fixed annual rate of interest earned by the investment.
Scenario
Rate of Interest
Number of years
a5%14.4
b14%5.14
c17%4.16
d100%0.72
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assume the bid rate of a new zealand dollar is .33 while the ask rate is .335 at bank x assu,e the bid rate of the new zealadn dollar is .32 where the ask rate is ..325
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The bid rate of the new zealadn dollar is .32 where the ask rate is ..325. The amount you end up with will be $15,384.62 more than the $1,000,000 started with.The rate is $ 1,000,000.
We exchange 1 New Zealand dollar, which may be purchased by = 1,000,000/0.325 NZ dollars, for $0.325 from Bank Y and $0.33 from Bank X. Gain on $1,000,000 of $3,076,923.08 is $3,076,923.08(0.33 - O.325) = $15,384.62. As a result, you will end up with an additional $15,384.62 to the $1,000,000 you started with.First, we must convert $1,000,000 to NZ dollars using the formula below. in New Zealand Amount in US dollars equals $1,000,000/$0.3249 per Canadian dollar. Amount in New Zealand dollars $ = NZ$ 3,077,870.11.Sell the funds at Bank X now.Dollar amount after sale equals New Zealand dollar amount. Dollars available after the transaction divided by the bid rate at the bank is NZ$3,077,870.11 divided by $0.3324 per NZ. Dollar amount that remains after the transaction is $1,023,084.03 Determine the arbitrage profit now. Arbitrage gain = $1,000,000 - $1,023,084.03 Total arbitrage gain: $23,084.03.Arbitrage gain is $23,084.
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Rust Pipe Co. was established in 1994. Four years later the company went public. At that time, Robert Rust, the original owner, decided to establish two classes of stock. The first represents Class A founders
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Rust Pipe Co. established two classes of stock, Class A founders' shares and Class B common shares, when it went public to provide Robert Rust, the original owner , with superior voting rights.
Rust Pipe Co. made the decision to create two classes of stock, Class A and Class B, during its transition to becoming a publicly traded company. The Class A founders' shares were allocated to Robert Rust, the company's original owner, and came with enhanced voting rights. This arrangement allowed Robert Rust to maintain a significant level of control over the company's operations and decision-making processes even after going public.
The introduction of two classes of stock with differing voting rights is a common practice for companies looking to balance the interests of founders or major shareholders with the need to raise capital from public investors. By granting superior voting rights to the Class A shares held by Robert Rust, he could exert greater influence over important matters, such as the appointment of board members and major strategic decisions, effectively safeguarding his position as the majority shareholder.
Overall, the creation of two classes of stock by Rust Pipe Co. ensured that Robert Rust could retain control over the company's direction while allowing for public investment and the potential for future growth.
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Alpha and Beta Companies can borrow for a five-year term at the following rates: Moody's credit rating Fixed-rate borrowing cost Floating-rate borrowing cost Alpha Aa 12. 1% LIBOR Beta Baa 15. 2% LIBOR + 1% i. Calculate the quality spread differential (QSD). Ii. Develop an interest rate swap in which both Alpha and Beta have an equal cost savings in their borrowing costs. Assume Alpha desires floating-rate debt and Beta desires fixed-rate debt. No swap bank is involved in this transaction
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The quality spread differential (QSD) is the difference in borrowing costs between two companies with different credit ratings. In this case, the QSD between Alpha and Beta is the difference between the fixed-rate borrowing costs for Alpha (12.1%) and Beta (15.2%), which is 3.1%.
QSD = Fixed-rate borrowing cost for Beta - Fixed-rate borrowing cost for Alpha QSD = 15.2% - 12.1% QSD = 3.1%
To develop an interest rate swap in which both Alpha and Beta have an equal cost savings in their borrowing costs, Alpha will need to pay the fixed-rate borrowing cost for Beta (15.2%) and Beta will need to pay the floating`-rate borrowing cost for Alpha (LIBOR).
Assuming a notional principal amount of $10 million, the swap will work as follows:
Alpha borrows $10 million at LIBOR and pays Beta 15.2% fixed-rate interest. Beta borrows $10 million at 15.2% fixed-rate and pays Alpha LIBOR floating-rate interest. The net effect of the swap is that Alpha will have achieved a fixed-rate borrowing cost of 15.2%, which is a cost savings of 3.1% compared to their initial fixed-rate borrowing cost of 12.1%. Likewise, Beta will have achieved a floating-rate borrowing cost of LIBOR, which is a cost savings of 1% compared to their initial floating-rate borrowing cost of LIBOR + 1%.
This swap allows both companies to achieve their desired borrowing structures while also achieving equal cost savings. No swap bank is involved, so both companies are directly entering into the swap agreement with each other.
Therefore, quality spread differential (QSD) is 3.1%.
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which microbes is used to extract ethanol from fruit juice and sugar molasses ·
Answers
Answer:
Yeast
Explanation:
A microbe (microorganism) is a microscopic organism which either exist in its single-celled form or as colony of cells. Example of microbes are bacteria, archaea, algae, protozoa.
Yeast is a microbe used in the extraction of ethanol from fruit juices and sugar molasses. Saccharomyces cerevisiae is a specie of yeast which reacts with fruit juices and sugar molasses in the absence of Oxygen to produce ethanol and carbon dioxide.
Michele is a manager at MDH Incorporated. She monitors the progress of an affirmative action program to advance minorities within the corporation, reviews progress on changes in employee attitudes, calls a special meeting to discuss problems, and makes appropriate adjustments in the program. Michele is engaged in which management function
Answers
Answer:
"Controlling" is the right response.
Explanation:
Michele helps to monitors whether the curriculum has been implemented according to another strategy or indeed any adjustments that need to be created. The whole information will assist in appropriate corrective measures.After that, Michele checks the availability as well as chooses to make several other significant changes to the program.
I need help on number 8 9 and 10 please help
Answers
Answer:
8. The opportunity cost is c. wearing the shoes
9. To gain the most satisfaction possible
10. A new toy is less exciting to a child with many toys
Explanation:
A certain element decays at a constant rate of 3% per year. If you start with 15 grams of the element, how long will it take before there are only three grams left? 0.) 54.4 years o b.) 51.8 years c.) 53.4 years d.) 52.8 years
Answers
The number of years that the element would decrease from its initial 15 grams to 3 grams is 54.4 years
What is the appropriate formula to determine years in case of a decreasing growth rate?
When the element decreases rather increases, the number of years it takes for the element to decrease from its initial value of 15 grams to 3 grams determined as shown below formula based on the present value and future value
n= ln(FV/PV) / ln(1+i)
FV=future value of the element after the decrease=3grams
PV=the initial value of the element=15 grams
i=decreasing rate of asset=3% per year
n=ln(3/15)/ln(1+3%)
n=-54.4 years(it is negative because asset value is reducing)
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Answer:
52.8
Explanation:
during december, maxum company sold 3,900 units of a product that carries a 60-day warranty. december sales for this product total $130,000. the company expects 10% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $18.' Prepare any necessary adjusting entries at December 31, 2013, for Maxum Company’s year-end financial statements for each of the above separate transactions and events.
Answers
Date Account Title and Explanation Debit Credit
Vacation Benefit Expense $13,000
Vacation Benefit Payable $13,000
(Being accrued vacation liability made due)
Warranty Expense $18,000
Estimated Warranty Liability $18,000
($12,000 × 10 % × $15)
(Being accrued warranty liability raised )
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Holly created a saving and investing plan over twelve years ago. She has not looked at it or made any changes to it. What saving and investing principle should holly have followed?.
Answers
Conventional wisdom states that a good return on an investment in stocks is one with an annual ROI of around 7% or higher.
What is a good rate of return? This question doesn't have a single correct response. A "good" ROI is based on a number of variables.Your financial necessity is the most crucial factor to take into account when calculating a solid ROI. Consider a young couple investing, for instance, to cover their newborn child's college expenses. For them, a decent return on investment is one that permits their initial and recurring investments to increase to the point that they can cover college costs 18 years from now.The notion of a successful ROI for this young family would be different from a retiree looking to augment their income. The retiree would define a decent rate of return as one that produces enough recurring income to support them comfortably. Naturally, how one retiree defines a comfortable lifestyle may not be the same as how another defines a good return on investment.To determine what would be a good rate of return, it's also crucial to take into account what you are investing in. Compound annual growth rates (CAGR), which assume that all gains are reinvested, are shown for a number of significant and well-liked investment assets from 1926 to 2019 in the following table:ASSET TYPE COMPOUND ANNUAL GROWTH RATE (CAGR)
Small-cap stocks 11.9%
Large-cap stocks 10.2%
Government bonds 5.5%
Treasury bills 3.3%
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logical fallacy Well, what form of government do you want, a government by liberal do-gooders ready to spend your hard-earned dollars or a government led by business minds that understand how to live within a tight budget and generate jobs that put people to work. Group of answer choices
Answers
Answer:
i don´t nou sorry
Explanation:
why does the amount of interest you owe decrease every month?
Answers
Answer:
The outstanding principle is less
Explanation:
Answer:the overall balance decreases
Explanation: because you have to pay less interest over time because you are paying money to them
What stage of the Lewin model of organization change is exemplified by managers letting people who will be affected by an impending change know the reasons for the change
Answers
Unfreezing stage of the Lewin model of organization change is exemplified by managers letting people who will be affected by an impending change know the reasons for the change.
The Lewin model is what?A straightforward and simple paradigm for humanizing the change management process is Lewin's change model. You are able to plan and carry out the necessary modification using these three separate stages of change (unfreeze, change, and refreeze).The theory of change management, which is a component of strategic management that aims to guarantee that a business adjusts to the environment in which it operates, has benefited greatly from Lewin's Force Field Model.What is organization?An entity, such as a business, institution, or association, that consists of one or more people and has a specific function is known as an organization.The word is derived from the Greek word organon, which also refers to an organ and several tools or instruments.Learn more about Lewin model here:
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Is eating a tomato bias?
Answers
Answer:
hindi ko po maintindihan ang tinatanong nyo
Explanation:
sa susunod po kumpletuhin nyo para masagut ko ang tanong mo
Slim purchases equipment with cash. The accounts affected are:____.
A. Equipment and accounts payable.
B. Cash and equipment.
C. Cash and revenues.
D. Cash and inventory.
Answers
Answer:
Option B, Cash and equipment, is the right answer.
Explanation:
Option “B” is correct because the purchase of equipment shows that the Equipment account debit and cash account credit. Here the debit of equipment account shows that the equipment has been increased and the cash account credit means the cash has been decreased. Therefore, both accounts, cash, and equipment will be affected. The equipment account will be increased while the cash account will be decreased.
The united states produced approximately ________ worth of goods and services in 2019.
Answers
The united states produced approximately $21.7 trillion worth of goods and services in 2019.
This amount is the GDP of the united states for the year. The GDP is calculated by adding all the approximate earnings of the people in the country. So to calculate the GDP we take figures like household purchases of goods and services, business investment, government purchases, and the trade balance.
The GDP of the country helps us to know how efficient the state is in meeting its requirements. The GDP does not take into account the well-being of the people of the country. Nor does it take into account the work done by domestic servants or by those persons who don't have proper bills.
So the GDP is a broad way of totaling the goods and services that were produced in the country.
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critically discuss how career and study choices are influenced by the following socio-economic factor: availability of finances/affordability
Answers
Answer:
availability of financial/affordability
Explanation:
it's enables you to make more money for the growth of the community so we study it that way
technological advances allow smaller companies to compete with larger companies. group of answer choices true false
Answers
True, Technological advances allow smaller companies to compete with larger companies.
What is company?
A company is a legal entity created by a group of people to conduct and manage a business enterprise, whether it be commercial or industrial. Depending on the corporate law of its jurisdiction, a company may be set up in a variety of ways for tax and financial liability reasons. The type of business structure a company chooses, such as a partnership, sole proprietorship, or corporation, will typically depend on the industry it operates in. The ownership structure of the business is also indicated by these structures. Additionally, they can tell private from public companies. Both have different ownership arrangements, laws, and rules regarding financial reporting.
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informational facts about airplanes
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Marcia is planning to buy a car in five years’ time. She estimates that the car would cost $2,500,000.000. Given that the existing interest rate is 12 %, how much money should she invest now?
Answers
The present value of the future amount is $1,096,896.46.How much money should Marcia invest now, the current interest rate is 12 percent and the car would cost $2,500,000 in five years.
The future value of an amount deposited today can be calculated using the formula: FV=PV(1+r)n where PV is the present value, FV is the future value, r is the interest rate, and n is the number of periods.
We can rearrange the formula to find the present value of a prospective amount: PVA=FV/(1+r) now, let's substitute the given values into the formula: PVA=2,500,000,000/(1+0.12)5PVA=2,500,000,000/1.7623PVA=$1,416,812.99Therefore, Marcia should invest $1,416,812.99 now, to have enough money to purchase a car costing $2,500,000 in five years.
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mr. lambers is a pacifist and refuses to pay income taxes because his conscience will not allow him to support a government that spends billions of dollars on military weapons. mr. lambers' reasoning best illustrates kohlberg's stage. (1 point) preconventional concrete operational conventional egocentric postconventional
Answers
Mr. Lambers is a pacifist and refuses to pay income taxes because his conscience will not allow him to support a government that spends billions of dollars on military weapons. Based on the given scenario, Mr. Lambers' reasoning best illustrates Kohlberg's postconventional stage.
Kohlberg's stages of moral development describe the progression of an individual's moral reasoning and decision-making. The postconventional stage is the highest level of moral development according to Kohlberg's theory. Individuals in this stage develop their own moral principles based on universal ethical principles, regardless of societal norms or laws.
Mr. Lambers' refusal to pay income taxes because of his pacifist beliefs reflects a decision based on his personal conscience and adherence to his own moral principles.
He is willing to take a stand against supporting a government that spends billions on military weapons, even if it means going against societal expectations or legal obligations. This demonstrates an advanced level of moral reasoning beyond conventional norms, which aligns with Kohlberg's postconventional stage.
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name any three
electronic media that provide information related to various improvement explain their importance briefly
Answers
Answer:
The three electronic media are television,mobile phone and computer that provide information related to various improvements. Its importance are as follows:
Explanation:
They give us daily information about the incidents occurring around the world. We get to know the trends and information through entertainment. It helps to do assignments and helps in education sectors if used wisely.We can share knowledge and ideas to anyone who is connected in the internet.Sunland Company's trial balance at December 31 shows Supplies $8,870 and Supplies Expense $ 0.On December 31, there are $ 2,030 of supplies on hand (1) Your answer is correct Prepare the adjusting entry at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts./ Date Account Titles and Explanation Debit Credit Dec. 31 бирор (a2) Using T-accounts, enter the balances in the accounts, post the adjusting entry, and indicate the adjusted balance in each account (Post entries in the order of journal entries presented in the previous part.) Supplies Supplies Expense e Textbook and Media List of Accounts
Answers
The adjusting entry for the supplies on hand at December 31 would be as follows:
Date Account Titles and Explanation Debit Credit
Dec. 31 Supplies Expense 6,840
Supplies 6,840
Explanation:
To record the supplies used during the period, an adjusting entry is required. Since the supplies expense account currently shows a balance of $0 and there are $2,030 of supplies on hand, we need to recognize the supplies that have been used.
The adjusting entry decreases the supplies expense account and increases the supplies account by the amount of supplies used, which is calculated as follows:
Supplies Used = Supplies on Hand - Supplies Expense
Supplies Used = $2,030 - $8,870
Supplies Used = -$6,840
Note: Since the trial balance does not include any amounts for the supplies expense account, it is assumed that no supplies were used during the period until the adjusting entry is made.
After posting the adjusting entry to the T-accounts, the adjusted balances would be as follows:
Supplies: $2,030 (Adjusted Balance)
Supplies Expense: $6,840 (Adjusted Balance)
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May i have the answer for this im not quite sure
Answers
Answer: May I have the answer for this. I'm not quite sure.
Explanation:
Sentences must not run on. Ask the question about getting the answer. THEN in the next sentence and explain why to the teacher.
Individuals and business organizations that buy finished goods and resell them to make a profit without changing the physical characteristics of the product are classified as ____ markets.
Answers
Answer:
reseller
Explanation:
25 point multiple choice
Ava works in a college admissions office. She is involved in reading applications and matching students to the criteria set out by the school for acceptance. If Ava decides that the student qualifies to attend the college, she notifies them. Which pathway in the Education and Training Cluster does Ava’s career fall into?
A. Teaching and Training B. Administration and Administrative C. Professional Support Services D. Science & Mathematics
Answers
It will be Option C, " Professional support and Services ".
Proof:-
• She is only reading applications that might be related to complaints or admissions, So , Option A and D is incorrect.
• She is not in the field of anything related to teaching, therefore, Option B is also incorrect.
Now Option C is only remaining. Therefore, Option C is your answer.
Hope it helps you...
(Answered by Benjemin)
which wheel settings change when you mount the subframe incorrectly in the transverse direction? Check all that apply
TOE
CAMBER
STEERING AXIS INCLINATION (SAI)
CASTER
Answers
The wheel settings that change when you mount the subframe incorrectly in the transverse direction is "CASTER" (Option D)
What is Caster?Caster is the process of aligning a wheel with the direction of travel, which can be performed by caster displacement or caster angle. As with the front wheels of a shopping cart, caster displacement shifts the steering axis forward of the axis of wheel rotation. The steering axis is moved away from the vertical by the caster angle.
The caster angle, also known as the castor angle, is the angular displacement of the steering axis from the vertical axis of a steered wheel of a car, motorbike, bicycle, another vehicle, or watercraft as seen from the side.
Positive caster enhances the responsiveness of your vehicle while negotiating bends and the stability of your car when going at greater speeds. The sole disadvantage of a positive caster is that it increases the amount of effort required to steer your car.
Turning plates and a digital or bubble camber/caster gauge are the two most common methods for measuring caster angles. Measuring the upper and lower wishbone mounting points or the MacPherson strut angle.
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You hold currency from a foreign country. If that country has a higher rate of inflation than the United States, then over time the foreign currency will buy a. more goods in that country and buy more dollars. b. more goods in that country but buy fewer dollars. c. fewer goods in that country but buy more dollars. d. fewer goods in that country and buy fewer dollars.
Answers
Answer:
d. fewer goods in that country and buy fewer dollars.
Explanation:
In the case when the currency is hold from the foreign country and if the country contains the high inflation rate as compared with the united states so here the less goods in that country should be purchased at less dollars that means it shows the positive relationship between the goods and the dollars value
Therefore as per the given situation, the option d is correct