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Petty Cash Mc Mann, Inc. decided to establish a petty cash fund to help ensure internal control over its small cash expenditures. The following information is available for the month of April.
1. On April 1, it established a petty cash fund in the amount of $200.
2. A summary of the petty cash expenditures made by the petty cash custodian as of April 10 is as follows. The petty cash fund was replenished on April 10. The balance in the fund was $12.
Delivery charges paid on merchandise purchased $60Supplies purchased and used 25Postage expense 40I.O.U. from employees 17Miscellaneous expense 36
3. The petty cash fund balance was increased $100 to $300 on April 20. Prepare the journal entries to record transactions related to petty cash for the month of April.
daba company manufactures two products product f and product g. the company expects to produce and sell 1420 units of
On January 1, 2010, Carla Industries issued 10% bonds dated January 1, 2010, which has a face amount of 25 million. The bonds mature in 2020. The market rate of interest 12%. The interest is paid on June 30 and December 31.
Describe the relative effects on Income from Operations as demonstrated by requirement 1 when costs are rising and when costs are falling. Describe the relative effects on Income Tax Expense for each situation.
Ships arrive at a port facility at an average rate of two ships every three days. On average, it takes a single crew one day to unload a ship. Assume that interarrival and service times are exponential.
Dawn Adams owns 60 percent of a calendar-year S corporation during 2008. Her stock basis on December 31, 2008, is $17,000, and her debt basis is $2,000. If the S corporation incurs a $48,000 loss for 2009, what amount may Ms. Adams deduct on her i..
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pujols industries issued 10 bonds dated january 1 with a face amount of 48 million. the bonds were priced at 42 million
Assume a small office building has a total usable area of 40,000 square feet and 5,000 square feet of common area. Tenant Z occupies 6,000 square feet of usable area. What is Tenant Z's rentable area?
Compute the companys contribution margin assuming the company uses the contribution margin format income statement.
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