Spencer Co. has a $290 petty cash fund. At the end of the first month the accumulated receipts represent $52 for delivery expenses, $163 for merchandise inventory, and $21 for miscellaneous expenses. The fund has a balance of $54. The journal entry to record the reimbursement of the account includes a:
A. Debit to Cash Over and Short for $54.
B. Debit to Petty Cash for $290.
C. Credit to Cash Over and Short for $54.
D. Credit to Inventory for $163.
E. Credit to Cash for $236.
Answer: E
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On July 1 . 2014, Martinez Manufacturing Co issued a five-year note payable with a face amount of $250,000 and an interest rate of 1 . percent. The terms of the note require Martinez to make five annual payments of $50,000 plus accrued interest, with the first payment due June 30, 2015 . With respect to the note, the current liabilities section of Martinez' December 31 . 2014, balance sheet
should include a. $12,500. b. $50,000. c. $62,500. d. $75,000.
If fixed costs are $500,000 and the unit contribution margin is $20, what is the break-even point in units if fixed costs are reduced by $80,000?
A) 25,000 B) 29,000 C) 4,000 D) 21,000
[The following information applies to the questions displayed below.]On January 1, Year 1, The Palms borrowed $200,000 to purchase a warehouse by agreeing to a 8%, 5-year note with the bank. Payments of $50,091.29 are due at the end of each year. The first payment will be made on December 31, Year 1.How much will the company still owe on the loan at the end of Year 2? (Round your final answer to the nearest dollar.)
A. $184,000 B. $129,090 C. $186,727 D. $165,910
Assault is:
a. an intentional infliction of harmful or offensive bodily contact. b. usually committed immediately after a battery. c. the intentional interference with a person's freedom of movement by unlawful confinement. d. essentially a mental rather than a physical intrusion.