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2 years ago

Immediately upon receipt of cash, a responsible employee should

Business

1 answer:

Ulleksa [173]2 years ago

6 0

Answer:

B. Prepare a listing of remittances

Explanation:

The employee receives a cash receipt only when some expense is incurred on behalf of the company. This clearly validates that as soon as the receipt is received the listing of remittances shall be prepared.

This listing basically signifies that all the expenses shall be paid off, as incurred on behalf of company, or any kind of bill is pending for payment of goods acquisition, then it shall be paid off, and entered in the list where all remittances has to be made.

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The classified Balance Sheet will subsection the assets section as follows a. Current Assets and Property, Plant, and Equipment

anyanavicka [17]

Answer:

a. Current Assets and Property, Plant, and Equipment

Explanation:

These classify the assets and liabilities in the classified balance sheet into various types Including assets that are divided into Property, Plant, and Equipment, current assets.

Liabilities are similarly divided into current liabilities, long-term liabilities The accounting equation is used in any balance sheet that means

Total assets = Total liabilities + shareholder equity

7 0

2 years ago

The primary reason for the absence of much litigation under foreign competition law is:

Leona [35]

Answer:

III only.

Cultural attitudes toward antitrust law differ.

Explanation:

Competition law is an area of law that seeks to maintain a level playing field for all participants in an industry by protecting them against anti-competitive conduct by companies.

For example two major players in an industry may collaborate to raise price of goods.

However in foreign competition law we have to consider that cultural attitudes towards antitrust law differs. What is accepted in one country may not apply in another. So there is absence of litigation when considering competition in the foreign scene.

3 0

2 years ago

Given some of the apparent problems with Wilkerson’s cost system, should executives abandon overhead assignment to products enti

Aneli [31]

Answer:

Current issues in the framework by regarding fabricating costs as a period cost

Assembling overhead is evaluated bu increasing direct work with 300%. This estimation isn't exact and doesn't speak to how the genuine variable sub-costs that form the manufacturing overhead act for example machine related costs, arrangement work, getting and creation control, designing, bundling and sending. In spite of the fact that there could be a connection between the measure of direct work cost and the all out manufacturing overhead, this present strategy for estimation is dubious and ignores the real segments of manufacturing overhead.

Advantage of Product Cost

Increasingly exact impression of the inconstancy of the sources for example on the off chance that there are five factors, it is more precise than one.

Advantage of Period Cost

Treating manufacturing overhead as a period cost implies that it stays simpler to contrast Wilkerson's and a rival, given that contender likewise treats manufacturing overhead as a period cost for example it is simpler to analyze like-for-like

6 0

2 years ago

Yeats Corporation's sales in Year 1 were $396,000 and in Year 2 were $380,000. Using Year 1 as the base year, the percent change

Ahat [919]

Answer:

Yeats Corporation

The percent change for Year 2 compared to the base year is -4.04%

Explanation:

a) Calculations:

Year 1 Sales = $396,000

Year 2 Sales = $380,000

Reduction = $16,000

Percentage reduction = $16,000/$396,000 x 100 = 4.04%

This is a reduction, and it is negative.

b) The change in sales is calculated as the difference between year 1 and year 2 sales over the sales in year 1 multiplied by 100. This is expressed as a percentage by the multiplication by 100. The percent change describes the relationship between the sales figure in year 1 and the sales figure in 2. When calculated as above, it shows that sales reduced in year 2 by 4.04% from the sales in year 1.

3 0

2 years ago

Walker Company prepares monthly budgets. The current budget plans for a September ending merchandise inventory of 27,000 units.

harkovskaia [24]

Answer:

Walker Company

a. Merchandise Purchases Budget for the months of July, August, and September:

July August September

Sales units 210,000 290,000 290,000

Ending inventory 43,500 43,500 27,000

Goods available 253,500 333,500 317,000

Beginning inventory 31,500 43,500 43,500

Purchases 222,000 290,000 273,500

b. The ratio of ending inventory to the next month's sales = 15% (Ending Inventory/Sales next month * 100)

c. The units budgeted for sale in October = 180,000 units.

Explanation:

a) Data and Calculations:

September ending inventory = 27,000 units

Ending inventory always equal to 15% of budgeted sales for the following month.

Sales (Units) Purchases (Units)

July 210,000 222,000

August 290,000 290,000

September 290,000 273,500

October 180,000

July August September October

Sales units 210,000 290,000 290,000 180,000

Ending inventory 43,500 43,500 27,000

Goods available 253,500 333,500 317,000

Beginning inventory 31,500 43,500 43,500 27,000

Purchases 222,000 290,000 273,500

6 0

2 years ago