almona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage, $74; transportation-in, $29; delivery expenses, $16; and miscellaneous expenses, $43. 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 $450 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3.

Answer: Please see  answer in explanation column

Explanation:

1`. To record establishment of fund

Date Account titles and explanation     Debit          Credit

Jan 1            Petty cash                     $200  

                       Cash                                                  $200

2.To record the  reimbursement  the petty cash fund.

Date Account titles and explanation     Debit          Credit

Jan 8    Postage expense                            $74  

Merchandise inventory                                   $29  

Delivery expense                                             $16  

Miscellaneous expenses                           $43  

Cash                                                                                $162

Date Account titles and explanation     Debit          Credit

Jan 08     Petty cash                             $250  

                          Cash                                                   $250

 calculation

Petty cash= $450-$200 = $250

Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions.) Acquired $3,200 cash from issuing common stock. Borrowed $2,300 from a bank. Earned $3,200 of revenues. Incurred $2,420 in expenses. Paid dividends of $420. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions.) Acquired an additional $600 cash from the issue of common stock. Repaid $1,370 of its debt to the bank. Earned revenues, $4,600. Incurred expenses of $2,790. Paid dividends of $760. What was the amount of retained earnings that will be reported on Lexington's balance sheet at the end of Year 1?

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Which of the following actions is a good example
of protecting sensitive information? Check all of
the boxes that apply.
using a paper shredder to discard documents
that contain personal medical information
keeping patient files in a secure electronic file
system with limited access
maintaining a confidential patient consultation
area in a doctor's office
discussing private matters with patients in the
waiting room

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Select the correct answer.
To qualify as a business analyst, which degree or certification should you ideally have?
O A.
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OB.
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C.
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D.
master's degree in social sciences

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A. Mark is correct
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