A petty cash fund was established with a $600 balance. It currently has cash of $19 and petty cash tickets as shown below:
Which of the following would be included in the journal entry to replenish the Petty Cash fund?
A) debit to Cash Short & Over for $118
B) credit to Cash Short & Over for $118
C) debit to Petty Cash for $118
D) credit to Petty Cash for $118
A) debit to Cash Short & Over for $118
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A company reported net income of $836,000 for the current year. The year-end market price per common share was $12 and there were 475,000 weighted-average shares of common stock outstanding. Calculate the company's price-earnings ratio.
What will be an ideal response?
Which of the following types of conduct, if done by an attorney, would likely result in professional disciplinary action?
a. conviction for tax evasion b. public drunkenness c. reckless driving d. traffic ticket for speeding in which another vehicle was damaged
Investments by private not-for-profit organizations in equity securities should be carried at:
A. Fair Market Value. B. Lower of cost or Market. C. Historical cost. D. None of the above.
Ruiz Clinic bases its budgets on the activity measure patient-visits. During July, the clinic planned for an activity level of 3,700 patient-visits, but the activity level was actually 3,600 patient-visits. The clinic has provided the following data concerning the formulas it uses in its budgeting: Fixed element per monthVariable element per patient-visitRevenue - $22.80 Personnel expenses$24,200 $6.80 Medical supplies$1,200 $3.30 Occupancy expenses$5,000 $0.80 Administrative expenses$3,100 $0.30 Required:Prepare the clinic's flexible budget for July based on the actual level of activity for the month.
What will be an ideal response?