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Blossom Company designated Alexa Kidd as petty cash custodian and established a petty cash fund of $402. The fund is reimbursed when the cash in the fund is at $57. Petty cash receipts shows that funds were disbursed for $174 of supplies and $165 of freight charges on inventory purchases. Blossom uses a perpetual inventory system.
Problem 1: Blossom follows the practice of recording the purchase of supplies to the asset account. Prepare journal entries for the establishment of the fund and the reimbursement.
Selected financial statement information and additional data for Stanislaus Co. is presented below. Prepare a statement of cash flows for year ending Decemb
Discuss the companies you located and describe what each of the four required financial statements tells you about the company.
The cash dividends declared and paid during each of the first 3 years of Framer's operations are shown. Calculate the amounts that went to the preferred and the common shareholders (SHs) each year.
Your trust fund will pay distribute $60,000 per year over the next 20 years. Using a 10% rate of return, what is present value of the distributions?
Describe the healthcare operational approaches to financial management. Outsourcing to an expert consultant within the United States
How much in bonds might an investor typically hold when they are 25? What about when they are 65? For an individual investor, do you think this is a good
Explain the meaning of each of the Johnson Company ratios above. State which company performed better for each ratio. Calculate the overall overstatement or understatement of net income if the above adjusting entries were not made.
A law firm is contemplating an unorthodox project of the selling of a machine today that will result in an immediate inflow of $450. Without the use of the machine the law firm will incur an annuity of outflows of $73 per year that begin at the end o..
The costs for adding this new course to its product offering would be $1800 per month. how many students would have to purchase the course
bell company acquires 80 percent of demers company for 500000 on 1st january 2009. demers reported common stock of
Sales are 80% cash and 20% on account. Assume sales on account are collected in the month following the sale. Compute cash receipts for June and July.
If a business had depreciation expense of $4,000, If the asset had no scrap value and a useful life of 7 years, how much did the asset cost?
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