6 questions I'm stuck on. Any help would be great.

1

Jasmine Company has established a petty cash fund for small expenditures. The following transactions occurred in April and May.

April 5 Established a $200 petty cash fund by cashing a check at the bank and placing the proceeds in a metal box in the office.

30 Expenditures for April were $60 for supplies, $50 for meals, $65 for postage, and $20 for freight-in. Cash in the amount of $180 was added to the cask box.

May 31 Expenditures for May were $55 for postage, $40 for charitable contributions, $56 for supplies, and $25 for freight-in. Another $180 was added to the box.

What amount would appear in the Petty Cash account at May 31:

A $200.00

B $560.00

C $180.00

D None of the above

2

Assuming Green Company uses the allowance method and the following transactions occur.

Mar. 15 Sold merchandise to Foster for $12,000 on account.

Apr. 15 Received $6,000 from Foster.

Aug. 15 Wrote off Foster's account as uncollectible.

What account would be used to write off Foster's account?

A Bad Debt

B Allowance for Uncollectible Accounts

C Sales

D None of the above

3

On November 1, 2013, Rob's Auto Repair purchased diagnostic equipment for $18,000. The equipment had an estimated residual value of $3,000 and a five-year life and was sold on May 1, 2015. Assuming that the company depreciates the asset on a straight-line basis and reports on a calendar-year basis, did the Asset disposition result in Gain or a Loss?

A Gain

B Loss

C Neither

D Cannot be determined

4

What was the accumulated depreciation amount from the previous question?

A $1,500

B $15,000

C $4,500

D None of the above

5

Homer Company in its fiscal year ending June 30, arranged to settle an open account of $60,000 with one of its vendors with a written obligation. What accounts would be involved in the journal entry to record this event?

A Notes Payable and Accounts Payable

B Notes Receivable and Accounts Receivable

C Notes Payable, Interest Expense and Accounts Payable

D None of the above

6

A corporation has $80,000 in total assets, $36,000 in total liabilities, and a $12,000 debit balance in retained earnings. What is the balance in the contributed capital account?

A $ 56,000

B $ 44,000

C $ 48,000

D $31,500