T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $450. By the end of April, the fund has a cash balance of $383. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Utilities (credit card) $119
Entertainment (petty cash ) 28
Stamps (petty cash) 43
Plumbing repair services (credit card) 214

Required:
a. Record the establishment of the petty cash fund on April 3.
b. Record credit card expenditures during the month. The credit card balance is paid in full on April 30.
c. Record petty cash expenditures during the month.

Acompany manufactures hair dryers. it buys some of the components, but it makes the heating element, which it can produce at the rate of 920 per day. hair dryers are assembled daily, 250 days a year, at a rate of 360 per day. because of the disparity between the production and usage rates, the heating elements are periodically produced in batches of 2,300 units. a. approximately how many batches of heating elements are produced annually? b. if production on a batch begins when there is no inventory of heating elements on hand, how much inventory will be on hand 4 days later? c. what is the average inventory of elements, assuming each production cycle begins when there are none on hand?

You plan to invest some money in a bank account. which of the following banks provides you with the highest effective rate of interest? hint: perhaps this problem requires some calculations. bank 1; 6.1% with annual compounding. bank 2; 6.0% with monthly compounding. bank 3; 6.0% with annual compounding. bank 4; 6.0% with quarterly compounding. bank 5; 6.0% with daily (365-day) compounding.

What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.