Reference no: EM13930021
Consider the following events:
1. A petty cash fund of $250 was established on April 1, 2013.
2. Employees were reimbursed when they presented petty cash vouchers to the petty cash custodian.
3. On April 30, 2013, the petty cash fund contained vouchers totaling $214.85 plus $32.15 of currency.
Required:
Answer the following questions:
a. How did the establishment of the petty cash fund affect (increase, decrease, or have no effect on) total assets?
b. What is the amount of total petty cash expenses to be recognized during April?
c. When are petty cash expenses recognized (at the time of establishment, reimbursement, or replenishment)?
|
Inventory-working capital to expand into new market
: Imagine A Better Company LLC, which has six members. Five of the shareholders own 7 percent each. Jacinta owns the remaining portion of the company. A Better Company needs $250,000 for equipment, inventory, and working capital to expand into a new ma..
|
|
Create sql database "chart of accounts" report
: A grand total of the balance field will be provided at the end of the report.
|
|
Families play an important role in the socialization process
: Political scientists believe that families play an important role in the socialization process. Families pass along partyidentification to their children, and politically active families may do so for future generations. Consider the linkbetween your..
|
|
Company generate in order to reach the break-even point
: Ritz Furniture has a contribution margin ratio of 0.17. If fixed costs are $167,300, how many dollars of revenue must the company generate in order to reach the break-even point?
|
|
When are petty cash expenses recognized
: When are petty cash expenses recognized (at the time of establishment, reimbursement, or replenishment)?
|
|
Payer percent of patients payment lag medicare
: Suppose that a health care organization had revenues of $300,000 for March and that the payer mix is as follows: PAYER PERCENT OF PATIENTS PAYMENT LAG Medicare 40 3 months Medicaid 20 3 months Blue Cross 15 2 months Other insurer 15 1 month Self-pay ..
|
|
Discussion - challenges in decision making
: Discussion: Challenges in Decision Making, It is one thing to solve decision problems, but it is something else entirely to be able to identify mistakes you have made and figure out how to fix those mistakes
|
|
The companies are facing various challenges
: 1. The companies are facing various challenges related to the system integration. The SI is more focused towards constant approach rather than adopting the ways which are much needed in the current scenario. There are services which are not much comp..
|
|
Balance sheet of innovative products reports total assets
: The balance sheet of Innovative Products reports total assets of $590,000 and $790,000 at the beginning and end of the year, respectively. The cash return on assets for the year is 25%. Calculate Innovative Products’ net cash flows from operating act..
|