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Basile [38]
9 months ago
15

The credit balance in cash short and over at the end of an accounting period is reported as?

Business
1 answer:
AVprozaik [17]9 months ago
7 0

The credit balance in cash short and over at the end of an accounting period is reported as an expense on the income statement.

Income is the consumption and savings opportunity that a business captures within a specific time frame, usually expressed in money. Income is difficult to define conceptually and definitions vary by region.

The definition of income is the amount of money received by an individual, group or business during a specified period. An example income is an annual salary of $70,000.

Income is money received by an individual or business in return for providing work, producing goods or services, or investing capital. While individuals usually earn their income through wages or salaries, businesses generate income from the sale of goods or services that exceed their production costs.

Learn more about income here:brainly.com/question/25745683

#SPJ4

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Western Company is preparing a cash budget for June. The company has $10,100 cash at the beginning of June and anticipates $31,9
Anna71 [15]

Answer:

Borrow $6,300.

Explanation:

The company has $10,100 cash at the beginning of June

and anticipates $31,900 in cash receipts

and $38,300 in cash disbursements during June.

This gives a positive balance of (10,100 + 31,900 - 38,300) $3,700 and

To maintain the $10,000 required balance, during June the company must:Borrow $6,300.

8 0
3 years ago
Read 2 more answers
The income statements for Federer Sports Apparel for 2019 and 2018 are presented below Required Prepare a horizontal analysis fo
nignag [31]

Answer:

FEDERER SPORTS APPAREL  

Income Statement  For the Years Ended December 31

                                                   Years                        Increase /(Decrease)

                                         2019            2018                    Amount      %

Net sales                      18,800,000    15,500,000      3,300,000    21.29%  

Cost of goods sold      13,200,000     7,000,000      6,200,000    88.57%

Gross profit                   5,600,000     8,500,000     (2,900,000)   -34.12%

Operating expenses     1,600,000      1,200,000         400,000     33.33%

Depreciation expense  1,000,000      1,000,000       0                   0

Inventory write-down     200,000       0                      200,000      100%

Loss (litigation)             1,500,000         300,000       1,200,000    400%

Net Income                $1,300,000    $6,000,000      (4,700,000)     78.33%

Explanation:

a) Federer Sports Apparel can use horizontal analysis as a technique for analyzing the financial statement changes over a period of time.  It is a useful tool for Federer to evaluate its trend situations, using the financial statements of two years with the earlier year serving as the base year (or independent variable) while the latter year is the dependent variable.

6 0
3 years ago
Callaway Golf Co. leases telecommunication equipment from Photon Company. Assume the following data for equipment lease form Pho
inessss [21]

Answer:

This lease is  regarded and classified  as Capital lease.

Explanation:

This lease is  regarded and classified  as Capital lease.

Here, Callaway Golf Co. is the body financing the leased asset but the right ownership is with Photon Company.

Now; the present value of future payment is calculated as:

Present value of future payment =[PVA 6%,5 × Annual payment ]+[PVF 6%,5 × Residual value]

=[4.46511 × 31000] +[0.74726 × 15500]

= 138418.27+ 11582.53

= 150000

However the present value of minimum lease payment is equal or more than 90% fair market value ,as such we therefore conclude that this  lease is a capital lease.

3 0
3 years ago
Using the AS-AD and IS-LM models, show the effects of an increase in consumer confidence on the position of the AD, AS, IS, and
lora16 [44]

Answer: hello your question has some missing information below is the missing information

Suppose the economy begins with output equal to its natural level. Then there is an increase in consumer confidence and households attempt to consume more for a given level of disposable income.

answer :

Attached below

Explanation:

IS-LM modeling curves intersects and it also defines the value of r and Y where r ( rate of interest )  Y( output level )

The AS-AD modeling is in equilibrium where aggregate demand curve and short run and long run aggregate supply curves intersects each other defining P and Y

p ( price level ) , Y ( output level )

<em>Note : Increase in aggregate demand shifts IS outward , raises interest rate and output level</em>

6 0
3 years ago
The manager of the marketing team has thoughtfully selected team members with their strengths in mind to play roles based on the
hodyreva [135]

Answer:

The correct option is advisor.

Explanation:

In business, advisors can be described as persons who evaluate circumstances and suggest options as what could be done during different circumstances. These options are suggested for the benefit of the company and to lead it towards success. An advisor usually evaluates the business plan for a company.

In the above-mentioned scenario, Andy is entitled to evaluate particular situations and provide better options, hence she is playing the role of an advisor.

3 0
3 years ago
Read 2 more answers
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