A company established a petty cash fund in November of the current year and experienced the following transactions affecting the fund during November:Nov. 1Established a $200 petty cash fund.5Paid $55 to acquire office supplies.8Reimbursed the company controller for $30 spent on beverages for recruits (entertainment expense).18Paid $45 for postage.20Paid $25 for C.O.D. charges on merchandise inventory, terms FOB shipping point.25Paid $40 for janitorial services.28When sorting the petty cash receipts to replenish the fund, the custodian noted that there was $10 cash remaining.Prepare the journal entries to establish the fund on November 1 and to reimburse the fund on November 28.

What will be an ideal response?



Nov. 01Petty Cash200?
?  Cash?200
Nov. 28Office Supplies55?
?Entertainment Expense30?
?Postage Expense45?
?Merchandise Inventory25?
?Maintenance Expense40?
?  Cash Over and Short?5
?  Cash?190

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Use the five transactions for Hennigan Company described below to answer the question(s) that follow(s). Dec 1 Hennigan purchases two new saws on credit at $375 each. The saws are added to Hennigan's rental inventory. Payment is due in 30 days. 8 Hennigan accepts advance deposits for tool Company of $75. 15 Hennigan receives a bill from Farmer's Electric Company for $150 . Payment is due in 30

days. 20 Customers are charged $750 by Hennigan for tool Company. Payment is due from the customers in 30 days. 31 Hennigan receives $500 in payments from the customers that were billed for Company on December 20. Refer to the transactions for Hennigan Rentals. Based on the October 15 transaction, Farmer's Electric will record which of the following in its accounting records? a. a credit in Accounts Payable for $150. b. a credit in Accounts Receivable for $150. c. a debit in Accounts Payable for $150. d. a debit in Accounts Receivable for $150.

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Communities of interest formed around a specific product are referred to as what?

A) Brand socializers B) Sentiment analyst C) Target markets D) Brand communities E) Teasers

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List and describe the three types of quality attributes that service marketers can use to illustrate the benefits of their services. Which quality attribute is most likely to be used with tangible products?

What will be an ideal response?

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Even though humans behave in organizations, such conduct occurs independently of the environment.

Answer the following statement true (T) or false (F)

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