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Blossom Company designated Alexa Kidd as petty cash custodian and established a petty cash fund of $401. The fund is reimbursed when the cash in the fund is at $56. Petty cash receipts shows that funds were disbursed for $173 of supplies and $167 of freight charges on inventory purchases. Blossom uses a perpetual inventory system.
Blossom follows the practice of recording the purchase of supplies to the asset account.
Problem 1: Make journal entries for the establishment of the fund and the reimbursement.
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headsmart manufactures headphone cases.nbsp during september 2011 the company produced 106000 cases and recorded the
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A firm has a debt-to-equity ratio of 1.75. If it had no debt, its cost equity would be 9%. Its cost of debt is 7%. What is its cost of equity if the corporate tax rate is 50%?
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