Exercise 6-10 Petty cash fund accounting LO P2 Palmona Co. establishes a $190 petty cash fund on January 1. On January 8, the fund shows $97 in cash along with receipts for the following expenditures: postage, $40; transportation-in, $11; delivery expenses, $13; and miscellaneous expenses, $29. Palmona uses the perpetual system in accounting for merchandise inventory. Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $240 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3.

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.

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after cutting wages and benefits in order to increase profit .

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