Business High School

A $100 petty cash fund has cash of $17 and receipts of $86. The journal entry to replenish the account would include a

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Answer 1

The journal entry to replenish such a petty cash fund would be a credit to Cash for $83.

How are petty cash funds replenished?

The petty cash fund will have to remain at the same balance of $100 at the end of the period.

In order to do that, the amount to come into the account is:

= 100 - 17

= $83

This amount will be taken from the cash account which is why it is to be credited.

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Related Questions

The relationship between increasing prices and decreasing money value is called

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Answer:

Inflation occurs when prices rise across the economy, decreasing the purchasing power of your money.

Explanation:

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Inflation because that’s when the worth of money comes down since there are so many and the prices start to go up

Are fixed costs considered to be anticipated or unanticipated costs? are variable costs considered to be anticipated or unanticipated costs?.

Answers

Answer:

anticipated (Think)

Explanation:

The term fixed cost refers to a cost that does not change with an increase or decrease in the number of goods or services produced or sold. Fixed costs are expenses that have to be paid by a company, independent of any specific business activities. This means fixed costs are generally indirect, in that they don't apply to a company's production of any goods or services.

The Lincoln Company produces a wide range of furniture, such as cabinets, bookcases, and bureaus. It divides its consumer market into several groups of people who have similar interests in wooden furniture. The strategy of dividing its consumer market most likely _______. a. allows the Lincoln Company to use an undifferentiated targeting strategy b. enables the Lincoln Company to define customer needs and wants more precisely c. allows the Lincoln Company to meet the market's needs with a single marketing mix d. eliminates the need for developing marketing objectives

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Lincoln company's strategy of dividing its consumer market will enables it to define customer needs and wants more precisely.

What is the strategy used by Lincoln company?

In marketing, this is known as segmentation which involves division of customers according to their segment such as age, needs, gender etc.

Here, as the firm has divided its consumer market into several groups that have similar interests in wooden furniture, this will allow them to define customer needs and wants more precisely.

Therefore, the Option B is correct.

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If you are executing an indirect activity allocation. what you post to the sender and receiver is: You post the quantity and cost to both the sender and receiver.

What is Indirect activity allocation?

Indirect activity allocation can be defined as the way in which activities that are share or allocated.

Based on the given scenario when making use of indirect activity allocation you post the quantity and cost to the sender as well as the receiver.

Therefore quantity and cost are posted to the sender and receiver.

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In a pull system reducing the number of kanbans:

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The reduction of the number of kanbans in a pull system reduces the inventory which makes problems more visible.

What is a Pull system?

In a supply chain, the system is one where the procurement, production, and distribution are more demand-driven rather than based on predictions.

However, when there is reduction of the number of kanbans in a pull system, its reduces the inventory which makes problems more visible.

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We can actually deduce here that based on the change in demand in the apple market, price and quantity will change in such a way that the price and quantity will increase.

What is change in demand?

Change in demand actually refers to the way that the demand on goods and services change as result of price increment or decrease or other factors.

We see that if the demand for apples increase as a result of the additional health benefits, the price and quantity will also increase.

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Terry purchases a property. the deed includes a description of an easement given to the neighboring property. this is an easement created by ______.

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This is an easement created by statute or court action.

What is a statute?

It should be noted that a statute simply means a written law that's passed by a legislative body.

In this case, purchases a property. the deed includes a description of an easement given to the neighboring property. this is an easement created by an easement created by statute or court action.

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if you expect the inflation rate to be 15 percent next year and a one-year bond has a yield to maturity of 7 percent, then the real interest rate on this bond is:

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If the inflation rate is 15 percent. The real interest rate on this bond is:22%.

Real interest rate

Using this formula

Real interest rat=Expected inflation rate+ One year yield to maturity

Let plug in the formula

Real interest rate=15%+7%

Real interest rate=22%

Therefore the inflation rate is 15 percent. The real interest rate on this bond is:22%.

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Diego and his supervisor have coffee together every monday. this is an example of a

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Diego and his supervisor have coffee together every Monday is an example of a ritual

What is a ritual?

A ritual is described as set of activities which may involve gestures, words, actions, or objects, performed according to a set sequence.

According to Diego and his supervisor, there has a been a constant action performed every week (taking coffee together). Since this act has become repetitive, they have become a ritual.

Hence Diego and his supervisor have coffee together every Monday is an example of a ritual

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Seeing the effect of each financial transaction or event on your current situation is the purpose of:

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Seeing the effect of each financial transaction or event on your current situation is the purpose of: balancing your books.

What is a financial transaction?

This has to do with all forms of exchange that occurs between a person that is selling a good and another person that is buying.

Such transactions are usually written in the accounting book which is balanced.

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When both supply and demand decrease, the equilibrium price ________ and the equilibrium quantity ________.

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When both supply and demand decrease, the equilibrium price increase and the equilibrium quantity decrease.

What is supply and demand?

Supply can be defined as the amount of goods that a company is willing to produce and supply while demand can be defined as the amount of goods that consumer are willing or ready to buy.

When both supply and demand decrease, the equilibrium price and the equilibrium quantity can do the following:

Increase; decreaseDecrease; decreaseRemain the same; decrease

Therefore when both supply and demand decrease, the equilibrium price increase and the equilibrium quantity decrease.

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When an organization evaluates people based on the economic or productive potential of their knowledge, experience, and actions, the organization is viewing them as ______.

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Answer:

Humam capital.

Explanation:

.......

Amtrak is promoting and upgrading passenger rail service. All but one of the following are facts Select one: A. It has high-speed train service between New York and Boston B. Total passenger miles have grown since 1981 C. In the northeast corridor it is the dominant carrier D. It operates some commuter agencies under contract E. It operates without any government subsidy

Answers

The main fact about Amtrak corporation that is promoting and upgrading the passenger rail service is that its operates without any government subsidy.

What is Amtrak corporation?

It is a railroad service that essentially provides an inter-city rail service in the United States and Canada.

Hence, despite that Amtrak corporation that is promoting and upgrading the passenger rail service, it does not operates without any government subsidy.

Therefore, the Option E is correct.

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In this scenario, where the store advertises cans of X-brand tomatoes but sells Y-brand tomatoes instead at a higher price, Jasmine is a. engaging in bait-and-switch advertising.

What is bait-and-switch advertising?

Bait-and-switch advertising is a sales fraud that involves luring customers in with false claims about product quality and price when it is not available.

During the process, the customer is usually offered another product that may have a higher price than the one originally advertised.

Question Completion with Answer Options:

a. engaging in bait-and-switch advertising.

b. violating regulation Z.

c. employing good business tactics.

d. engaging in counter-advertising.

Thus, Jasmine is a. engaging in bait-and-switch advertising.

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The definition of market equilibrium states that at the _______________, the quantity of labor demanded by employers will equal the quantity supplied.

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The definition of market equilibrium states that the quantity of labor demanded by employers will equal the quantity supplied at an equilibrium wage.

What is an equilibrium?

The point at which the forces of demand and supply are equal from both the sides, and there is an expression of a perfect competition in the market, such point is known as an equilibrium.

Hence, option B holds true regarding equilibrium.

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Assume that sparks uses a perpetual specific identification inventory system. its ending inventory consists of 2 units from beginning inventory, 4 units from the jan. 5 purchase, and 10 units from the jan. 29 purchases. calculate the dollar value of its ending inventory.

Answers

The dollar value of the ending inventory is given as $264

How to solve for the dollar value of ending inventory

Through the specific identification system, we can identify units through the use of accounting principles.

We have to multiply the number of units of inventory by the amount that it costs.

Hence we have

2 * 12 + 4 * 15 + 10 * 18

This gives us $264 as the dollar value of the inventory.

Complete question

Assume that Sparks uses a perpetual specific identification inventory system. Its ending inventory consists of 2 units from beginning inventory, 4 units from the Jan. 5 purchase, and 10 units from the Jan. 30 purchases. Calculate the dollar value of its ending inventory.

Jan 1

Beginning Inventory

10 at $12

Jan 5

Purchase

10 at $15

Jan 30

Purchase

10 at $18

Feb 8

Sale

14 units

$186

$264

$160

$450

Answers

To record a sales transaction, use create invoices- receive payment- make deposits.

What is sales transaction?

Sales Transaction means transactions consummated between a company and subscriber of its capital stock. It is the transfer of a company's asset to another after sales have been completed.

Hence, to record a sales transaction, use create invoices- receive payment- make deposits.

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The production possibilities curve below shows the hypothetical relationship between the production of guns (national defense) and butter (social goods) in an economy. Combination Guns Butter A 0 4 B 14 3 C 26 2 D 36 1 E 44 0 Your response should be a number ONLY. What is the marginal opportunity cost of producing the second unit of butter

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If we will increase the production of butter from 1 to 2, then the Guns production will decreases from 36 to 26. Thus, marginal opportunity cost of second unit of butter is 10 guns.

What is marginal opportunity cost?

The marginal opportunity cost refers to the measurement of the amount of a good that has to be sacrificed for each additional unit of the other good.

It is the cost incurred during the production of a unit or item.

Formula of Marginal opportunity cost =△gain of output △loss of output.

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a provider who directly treats a patient is called a(n)

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A provider who directly treats a patient is called a direct provider.

A provider who directly treats a patient is called a direct provider.

Who is a Patient?

This refers to the person that is under care, usually in the hospital for an ailment or health-related issue.

Hence, we can see that in the case of the person that takes care of a patient and treats him directly, this person is known as a direct provider and is responsible for getting him to wellness.

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The total fixed cost if the variable cost was $1.50 per direct labor hour is $6700.

Total fixed cost

Using this formula

Total cost=Fixed cost+ Per Direct labor hours×Units of pulp× Direct labor hours

Let plug in the formula

9400=FC + 1.50(300)(6)

9400=FC + 2700

FC=$6700

Therefore the total fixed cost if the variable cost was $1.50 per direct labor hour is $6700.

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A ________Blank identifies that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it.

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A trademark Blank identifies that a firm has legally registered its brand name or trade name so the firm has its exclusive use, thereby preventing others from using it.

A brand extension is when a company uses one of its established brand names on a new product or new product category.A brand name, or product brand, is a word, group of words, letters, or numbers that represent a product or service. A trade name, or corporate brand, identifies and promotes a company or a division of a particular corporation. The trade name is the legal name of the business.

What does trademark imply?Any word, phrase, symbol, design, or combination of these that distinguishes your products or services might be considered a trademark. Customers use it to recognize you in the marketplace and set you apart from your rivals. Both trademarks and service marks are included under the umbrella term "trademark."Business names, logos, slogans, sounds, and even colors that are distinctive to a single brand may be protected by a trademark.

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The process of influencing people to work toward a common goal is.

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Answer:

Leading/Leadership

Explanation:

Leadership inspires, influences and motivates people to work towards a goal and achieve it.

Female executives in international business have workplace challenges due to gender biases in some countries. For this reason, some companies do not eagerly offer women _____.

Answers

For this reason, some companies do not eagerly offer women international assignments.

What are the barriers/challenges women face at the workplace?Because men have dominated leadership roles for so long when a woman demonstrates these qualities, they are not as well received.Men continue to have more networks than women, which allows them to hear about opportunities and locate mentors and sponsors who will support their growth.The difficulty of juggling work and home obligations sometimes prevents women from pursuing leadership positions. The outdated idea of male and female home responsibilities is still used in the design of workplaces.Obstacles still exist in the form of hostile work environments and covert bias. Women of race encounter more barriers to success and are thus even less likely to assume leadership positions.

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What is the cost gained by producing one additional unit of a good or service?
A. Market-Oriented System
B. Marginal Revenue
C. Market Structure
D. Marginal Cost

Answers

Answer:

B Marginal Revenue

Revenue is money earned from the production of goods and services.

Select a travel lane with the least amount of congestion and stay in the lane you have chosen until you need to turn, __________, or avoid a hazard.

Answers

Select a travel lane with the least amount of congestion and stay in the lane you have chosen until you need to turn, pass another, or avoid a hazard. Read below about travel lane.

What is a travel lane?

A traffic lane or travel lane is a lane for the movement of vehicles travelling from one destination to another, not including shoulders. A through lane is a traffic lane for through traffic. At intersections, these may be indicated by arrows on the pavement pointing straight ahead.

Therefore, the correct answer is as given above.

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Erin bought a $100,000 whole life insurance policy. When she is 65 she decides to surrender the policy for its cash value of $60,000. Of the cash value, $50,000 is premiums. How much of Erin's cash surrender is taxable?

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The difference between the cash value and the premiums paid is taxable upon policy surrender ($60,000 - $50,000 = $10,000). Erin's cash surrender that is taxable is $10,000.

What is cash surrender value of whole life insurance and how it is calculated?

Cash surrender value is the amount that remains after the fees when permanent life insurance policy has been cancelled.

Cash surrender value of whole life insurance can calculated by adding up the total payments being made to the insurance policy and then subtract the fees that has been charged by the insurance company for surrendering the policy.

In short, Cash surrender value is the amount left over after fees when you cancel a permanent life insurance policy.

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Which type of financial aid is often based on merit, as opposed to financial need?

Answers

Answer:

Scholarships

Explanation:

Merit-based aid goes to students based on their academic and/or extracurricular achievements rather than their financial need. Scholarships are the most common type of merit-based aid. Students may receive scholarships from nonprofit organizations, private businesses, and colleges and universities.

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Answer: scholarships

Explanation:

abc has a $5 million liability at december 31, 2018, of which $1 million is payable in each of the next five years. abc reports the liability on the balance sheet as a:

Answers

abc should reports the liability on the balance sheet as a: $1 million current liability and a $4 million long-term liability.

Liability

The liability will appear in the balance sheet as:

Current liability (Payable)= $1 million

Long term liability=$5 million-$1 million

Long term liability=$4 million

Therefore abc should reports the liability on the balance sheet as a: $1 million current liability and a $4 million long-term liability.

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a certain value has a standardized score = 1.75. how many standard deviations from the mean does this value fall? is this value greater than or less than the mean?

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Based on the fact that the value has a standardized score of 1.75, this means that the value is 1.75 greater than the mean.

What is a standardized score?

The standardized score of a value is meant to show the value's position relative to the mean value of the data set.

A value with a standardized score of 1.75 is therefore 1.75 standard deviations above the mean.

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To fully benefit from economies of scale, an MNC should: a.participate in a joint venture in order to learn about a production process or other operations. b.establish a subsidiary in a market where raw materials are cheap and accessible. c.establish a subsidiary in a market that has relatively low costs of labor or land. d.establish a subsidiary in a new market that can sell products produced elsewhere, which allows for increased production and thus possibly greater efficiency.

Answers

A multinational corporation will fully benefit from economies of scale when its establish a subsidiary in a new market that can sell products produced elsewhere which allows for increased production and thus possibly greater efficiency.

What is an economies of scale?

This refers to a situation whereby the average costs per unit of output decrease with the increase in output being produced by a firm.

Hence, it is agreed that any multinational corporation will be able to fully benefit from economies of scale when its establish a subsidiary in a new market that can sell products produced elsewhere.

Therefore, the Option D is correct.