The journal entry to replenish the petty cash account is credit to Cash for $266.
<h3>How would petty cash be replenished?</h3>
The amount that needs to be replenished is:
= Petty cash fund - cash
= 298 - 32
= $266
This amount needs to be taken from the cash account which is why the cash account will be credited with $266.
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Answer:
Current account balance. = -$600
Explanation:
Given:
GNP = $10,000
Consumption (C) = $8,200
Investment (I) = $1,200
Government Purchases (G) = $1,200
Find:
Current account balance.
Computation:
GNP = Consumption (C) + Investment (I) + Government Purchases (G) + Current account balance.
$10,000 = $8,200 + $1,200 + $1,200 + Current account balance.
Current account balance. = $10,000 - $10,600
Current account balance. = -$600
After the sale, salespeople should only follow up with the buying center members who are directly involved in the use of the product.
The members of the buying center will be responsible for making decisions regarding variables that allow the monitoring of factors such as:
- Direct buyback
- New task
- Modified buyback
- Product type
This monitoring will help to understand consumption and satisfaction trends so that the purchase and sales strategy is carried out more effectively and aligned.
Therefore, salespeople should follow up after the sale only with buying center members, who will provide them with guidance to make more sales of certain most consumed products.
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Answer:
b. July
Explanation:
According to the revenue recognition principle, the revenue has to be recognised in the period the services are provided.
In the question, the services were provided in July, so the revenue needs to be recognised in July,
The fact that the order was received in June or that the payment from the customer was received in August is not relevant for purposes of revenue recognition.
Answer:
(B) NAV per share is calculated by subtracting the liabilities of the fund from the total assets of the fund, then dividing this number by the total number of shares currently outstanding.
Explanation:
The Net asset value(NAV) of any mutual fund corporation can be determined using below mentioned formula:
Net asset value(NAV) per share=(Current market value of all assets - liabilities)
/Total number of shares outstanding.
Based on the above formula, the statement which best describe the computation to arrive at NAV per share is
(B) NAV per share is calculated by subtracting the liabilities of the fund from the total assets of the fund, then dividing this number by the total number of shares currently outstanding.
