Business, 03.09.2020 01:01 jamesleecy06
Fresh Foods established a petty cash fund of $88 on January 2. On January 31, the fund contained cash of $8.80 and vouchers for the following cash payments:Maintenance expense $ 26.40 Office supplies 35.20 Transportation expense 17.60 The four distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses including any amount of cash short or over and (4) replenishment of the fund. Required:Show each of the four events in a horizontal statements model like the following one. (In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or a financing activity (FA). Enter any decreases to account balances with a minus sign. Round your final answers to 2 decimal places. Not all cells in the "Cash Flow" column may require an input - leave cells blank if there is no corresponding input needed.)
Answers: 1
Business, 22.06.2019 17:50, primmprincess312
Which of the following statements is true of unsought products? as compared to convenience products, unsought products are purchased more frequently. unsought products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. a life insurance policy is an example of an unsought product. unsought products have strong brand identification for which a significant group of buyers is willing to make a special purchase effort. unsought products are those products purchased for further processing or for use in conducting a business.
Answers: 2
Business, 22.06.2019 20:40, mom1645
Which of the following is true concerning the 5/5 lapse rule? a) the 5/5 lapse rule deems that a taxable gift has been made where a power to withdraw in excess of $5,000 or five percent of the trust assets is lapsed by the powerholder. b) the 5/5 lapse rule only comes into play with a single beneficiary trust. c) amounts that lapse under the 5/5 lapse rule qualify for the annual exclusion. d) gifts over the 5/5 lapse rule do not have to be disclosed on a gift tax return.
Answers: 1
Business, 23.06.2019 00:20, wwesuplexcity28
E11-2 (multiple choice) identify the best answer for each of the following: which of the following statements about internal service fund liabilities is false? internal service funds may report both current and long-term liabilities. internal service funds may not issue bonds for financing purposes. internal service funds may report contingent liabilities. due to other funds would be reported as a current liability
Answers: 3
Fresh Foods established a petty cash fund of $88 on January 2. On January 31, the fund contained cas...
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