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Havermill Co. establishes a $420 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $90 for Office Supplies, $171 for merchandise inventory, and $39 for miscellaneous expenses. The fund has a balance of $120. On October 1, the accountant determines that the fund should be increased by $84. The journal entry to record the establishment of the fund on September 1 is:
Debit Cash $420; credit Petty Cash $420
Debit Petty Cash $420; credit Accounts Payable $420.
Debit Miscellaneous Expense $420; credit Cash $420
Debit Petty Cash $420; credit Cash $420
Debit Cash $420; credit Accounts Payable $420.
Hallam Company's financial statements show the following.
CollegePak Company produced and sold 60,000 units throughout the year just ended at an average price of $20 per unit. Variable manufacturing costs were $8 per unit, and variable marketing costs were $4 per unit sold.
jeffrey vaughn president of frame-it company was just concluding a budget meeting with his senior staff. it was
Calculate the total cost that would be incurred for the production of 20,000 units. Identify the two key cost behavior assumptions made in the calculation of your answer to part C.
As a production manager, one of your main tasks is to enhance efficiencies by either increasing productivity or reducing cost. Find out whether the responsibility reports required to track performance should be created by department, function, or ..
ABC Company pays for purchases 40% in the month of purchase, and the balance in the following month. Recent purchases have been:
Consider the information in Problem.
How can a company reduce its cash conversion cycle? What are some of the disadvantages (at least 3) of the payback rule in capital budgeting?
Professionalism and ethics in accounting and the history of accounting
How many total haircuts must his barbers give in 2013 in order for Andre to be indifferent between the 2012 and 2013 payment plans?
1.The following selected information is from Ellerby Company's comparative balance sheets.
Using the calculated ratios, analyze the financial performance of the firm. You will do this by looking at the ratios and comparing them to ratios from previous periods and in some cases, against their competitors.
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