Jackson Brothers established a petty cash fund of $200 at the beginning of the year, but it decides to reduce the amount in the fund to $130. Demonstrate the correct journal entry to reduce the amount in the account by choosing the correct action from those given below. Multiple choice question. Petty Cash is debited for $70 and cash is credited for $70. Cash is debited for $130 and Petty Cash is credited for $130. Cash is debited for $70 and Petty Cash is credited for $70. Petty Cash is credited for $130 and Miscellaneous Expense is debited for $130.

Which of the following is the most direct cause of cost-push inflation? a. rising production costs. b. reductions in wages. c. greater scarcity of natural resources. d. increasing supply of goods and services. 2b2t

Match the given situations to the type of risks that a business may face while taking credit. 1. beta ltd. had taken a loan from a bank for a period of 15 years, but its sales are gradually showing a decline. 2. alpha ltd. has taken a loan for increasing its production and sales, but it has not conducted any research before making this decision. 3. delphi ltd. has an overseas client. the economy of the client’s country is going through severe recession. 4. delphi ltd. has taken a short-term loan from the bank, but its supply chain logistics are not in place. a. foreign exchange risk b. operational risk c. term of loan risk d. revenue projections risk

Salaries are $4,500 per week for five working days and are paid weekly at the end of the day fridays. the end of the month falls on a thursday. the accountant for dayton company made the appropriate accrual adjustment and posted it to the ledger. the balance of salaries payable, as shown on the adjusted trial balance, will be a (assume that there was no beginning balance in the salaries payable account.)