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Ad libitum [116K]
2 years ago
12

Jim is an accountant who reimburses travel expenses for company employees who have used personal funds for travel. Tom, a compan

y sales rep, has requested a reimbursement for a $200 dinner. However, Tom does not have proper documentation which means the expense cannot be reimbursed. Tom offers to split the reimbursement with Jim, if Jim will approve it without the documentation. Jim should
Business
1 answer:
Dafna11 [192]2 years ago
4 0

The inference shows that Jim should reject the reimbursement as confidentially report the incident.

<h3>What is an inference?</h3>

An inference simply means the conclusion that can be deduced based on the information given in a literary work.

In this case, the inference shows that Jim should reject the reimbursement as confidentially report the incident.

Learn more about inference on:

brainly.com/question/25280941

#SPJ1

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3 years ago
Dynamo Corporation manufactures toasters. Each toaster comes with a 5-year assurance-type warranty. The toasters sell for $50 ea
Leno4ka [110]

Answer:

1.Dr Cash 25,000

Cr Sales revenue 25,000

2. Dr Warranty expense 2,500

Cr Warranty liability 2,500

3.Journal entry for actual warranty expense

Dr Warranty liability 500

Cr Cash 500

Explanation:

Preparation of Dynamo's journal entries related to the sales and warranty in Year 1.

1.Dr Cash 25,000

Cr Sales revenue 25,000

(50*500)

2. Dr Warranty expense 2,500

Cr Warranty liability 2,500

3. Dr Warranty liability 500

Cr Cash 500

7 0
3 years ago
Lillian sees a store sign that says cl_ ed. due to the gestalt law of _______, lillian knows the store is closed even though the
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4 0
4 years ago
Sink and Tap Inc. is looking at a 4-year project for making taps. Initial investment in equipment will be $754,000. Each unit wi
podryga [215]

Answer:

the present value break-even point in units per yea is 4680 units. the option (d) is correct

Explanation:

Solution

Given that:

The initial cash flow = $754,000

The project life is  = four years

Thus,

Contribution = sales - variable costs

So,

Sales = quantity * the price

Let the Quantity be Y

$230 Y - $102.40 Y

=127.60 Y

Now,

The operating income = Contribution -fixed costs

which is,

127. 60 Y- (Other depreciation or decrease + decrease)

127. 60 Y- ( $333,000 + ($754,000/4))

= 127. 60 Y- ( $333,000 + $188,500)

Thus,

127. 60 Y - $521, 500

Now,

Tax rate at 21% on operating income is =26.796 Y - 109. 515

The profit after tax = operating income - tax

(127. 60 Y - $521, 500) -(26.796 Y - 109. 515)

= 100.804 Y - 411, 985

Additional depreciation = $188, 500

The operating cash inflow per year = 100.804 Y - 411, 985 +  $188, 500

Thus,

The PVAF for 12 years , 4% = 3.037349

PV of operational cash inflow = 306.18 Y - 678, 802.02

However,

For the break even point: the initaila cash flow = The PV of functioning or operational cash inflow

So,

306.18 Y  - 678, 802.02 =$ 754,400

306.18 Y = 1, 432, 802.02

Y = 4680 Units

6 0
3 years ago
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