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Question - Summer LLP decided to establish a petty cash fund.
1) On May 1, Summer established a petty cash fund in the amount of $200.
2) A summary of the petty cash expenditures as of May 10 is as follows:
Delivery charges paid on merchandise purchased $60
Supplies purchased and used 25
Postage expense 40
I.O.U. from employee 17
Miscellaneous expense 36
The petty cash fund was replenished on May 10. The balance in the fund was $12.
3) The petty cash fund balance was increased $100 to $300 on May 20.
Prepare the journal entries to record the transactions related to petty cash for the month of May.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
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