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Katyanochek1 [597]
2 years ago
15

Determine which of the statement(s) are correct if a petty cash account is not replenished at the end of the accounting period.

(check all that apply.) multiple select question. the balance sheet would show an overstated cash asset. the balance sheet would show an understated cash asset. expenses would not be recorded in the period in which they were incurred. the income statement would reflect a net income amount that was too high.
Business
1 answer:
Vitek1552 [10]2 years ago
5 0

If Petty Cash is not replenished at the end of the accounting period:

  • the balance sheet would show an overstated cash asset.
  • expenses would not be recorded in the period in which they were incurred.
  • the income statement would reflect a net income amount that was too high.

<h3>What happens when petty cash is not replenished?</h3><h3 />

Because the cash that was meant to go to the petty cash was not taken from the cash account, this account will have more than it should (overstated).

The expenses which were incurred and recorded in the petty cash would not be accounted for which means that the income would be overstated as these expenses were not deducted from it.

Find out more on the petty cash at brainly.com/question/17439772.

#SPJ1

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A firm is reviewing an investment opportunity that requires an initial cash outlay of $336,875 and promises to return the follow
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Answer:

The NPV of this investment is $64,581.75

Explanation:

Hi, we need to discount to present value all the future cash flows, the formula to use is as follows:

NPV=-Investment+\frac{CF1}{(1+r)^{1} }+\frac{CF2}{(1+r)^{2}} +\frac{CF3}{(1+r)^{3}} +\frac{CF4}{(1+r)^{4}} +\frac{CF5}{(1+r)^{5}}

Where

NPV = Net Present Value

CF = The cash flow stated in the problem by year

r= discount rate (in our case, 0.08 or 8%)

Now, let´s solve this.

NPV=-336,875+\frac{100,000}{(1+0.08)^{1} }+\frac{82,000}{(1+0.08)^{2}} +\frac{76,000}{(1+0.08)^{3}} +\frac{111,000}{(1+0.08)^{4}} +\frac{142,000}{(1+0.08)^{5}}

NPV=-336,875+ 92,592.59 + 70,301.78 + 60,331.25 + 81,588.31+96,642.81

NPV=64,581.75

So, the net present value of this project is $64,581.75

Best of luck.

7 0
3 years ago
Analyze a local space that is open to the public. It can be a store or mall, a club, restaurant, or a school (like COC), perhaps
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Answer:

Local spaces open for public to help them with social activities. Parks, gyms, store, mall and clubs are some of local spaces which are open to everyone for gaining relaxation in their leisure time.

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People are busy in weekdays and they need some place for relaxation on weekend. There are many places which provide with recreational activities for people to relax and spend their weekends with their family.

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By requesting that each subordinate be rated (performance evaluation) according to how closely the appraisal (pre-determined criteria) describes the employee, the company new form is an example of a judgmental appraisal method.

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Jamal has owned his home for about 5 years. his refrigerator needs to be replaced and jamal is thinking about buying an energy s
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Answer - A (7 years)


WORKINGS

To calculate how long it would take for the new refrigerator to pay for itself in lower utility costs, the cost of new refrigerator will be divided by lower utility cost per year

 

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At a cost of only 12 cents per day

Annual cost will be 12 X 365 = 4380 Cents ($43.8)

 

Cost saved annually = Cost of old refrigerator – Cost of new refrigerator.

Lower utility cost per year = $132 – $43.8

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