Kiona co set up a petty cash fund for payments of small amounts the following transactions involving the petty cash fund occurred in may (the last month of the company's fiscal year) may 1 prepared a company check for $350 to establish the petty cash fund 15 prepared a company check to replenish the fundfor the following expenditures made since may 1 paid $109.20for janitonal services paid $89 15 for miscellaneous expenses paid postage expenses of $60 90. paid $80.01 to the county gezette (the local newspaper} fa an advertisement. counted $26 fti remanwitg in ito petty cash box prepared a company c befor $200 to increase the fund to $550. the petty cashier reports that $390.27 cash remains in the fund. a company check is drawn to replenish the fund for the following expenditures made since may 15 paid postage expense of $59.10 reimbursed the office manager for business milege, $47.05 the company decides that the may 16 increases i the fund was 100 large it reduces the fund by $50 leaving a total of $500.

In most states, a licensee must provide a(n) of any existing agency relationships to all parties

If the reserve requirement is 10 percent, what amount of excess reserves does a bank acquire when a business deposits a $500 check drawn on another bank?

P8-4b dropping unfavorable division based on the following analysis of last year's operations of groves, inc., a financial vice president of the company believes that the firm's total net income could be increased by $160,000 if its design division were discontinued. (amounts are given in the thousands of dollars.) required provide answers for each of the following independent situations: a. assuming that total fixed costs and expenses would not be affected by discontinuing the design division, prepare an analysis showing why you agree or disagree with the vice president. b. assume that the discontinuance of the design division will enable the company to avoid 30% of the fixed portion of cost of services and 40% of the fixed operating expenses allocated to the design division. calculate the resulting effect on net income. c. assume that in addition to the cost avoidance in requirement (b), the capacity released by discontinuance of the design division can be used to provide 6,000 new services that would have a variable cost per service of $60 and would require additional fixed costs totaling $68,000. at what unit price must the new service be sold if groves is to increase its total net income by $180,000?