Assume that the custodian of a $450 petty cash fund has $65 in coins and currency plus $382 in receipts at the end of the month. The entry to replenish the petty cash fund will include:
A. A debit to Cash for $382.
B. A credit to Cash for $385.
C. A credit to Cash Over and Short for $3.
D. A debit to Cash for $450.
E. A debit to Petty Cash for $385.
Answer: B
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Nuzum Corporation has two divisions: Division M and Division N. Data from the most recent month appear below: Total CompanyDivision MDivision NSales$557,000$254,000 $303,000 Variable expenses 144,910 81,280 63,630 Contribution margin 412,090 172,720 239,370 Traceable fixed expenses 273,000 128,000 145,000 Segment margin 139,090 44,720 94,370 Common fixed expenses 94,690 43,180 51,510 Net operating income$44,400$1,540 $42,860 Management has allocated common fixed expenses to the Divisions based on their sales. The break-even in sales dollars for Division N is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $183,544 B. $303,405 C. $496,987 D. $248,747
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