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Alik [6]
3 years ago
8

Silver Co. has a $430 petty cash fund. At the end of the first month the accumulated receipts represent $66 for delivery expense

s, $219 for merchandise inventory, and $35 for miscellaneous expenses. The fund has a balance of $110. The journal entry to record the reimbursement of the account includes a:
Business
1 answer:
ratelena [41]3 years ago
6 0

Answer:

The correct answer is credit to cash by $320..

Explanation:

According to the scenario, Journal entry of the given data are as follows:

Journal entry

Delivery expense A/c Dr $66

Merchandise inventory A/c Dr $219

Misc. Expense A/c Dr $35

To Cash A/c $320                            ( $66 + $219 + $35)

(Being reimbursement of the account is recorded )

Hence, reimbursement of the account includes  credit to cash by $320.

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Data Recovery Systems (DRS) has a degree of operating leverage (DOL) equal to 3.2x and a degree of total leverage (DTL) equal to
Anna71 [15]

Answer:

The DRS's EBIT will be $205,920.

Explanation:

Degree of operating leverage measures how EBIT will change with change in sales

Degree of operating leverage (DOL) = % change in EBIT / % change in sales

In our case, DOL = 3.2x

Sales forecast = $300,000

Actual sales = $313,500

% change in sales = (Actual sales - forecast )/ forecast = (313,500 - 300,000) / 300,000

                              = 4.5%

EBIT forecast = $180,000

Now putting everything in DOL formula

3.2 = % change in EBIT / % change in sales = % change in EBIT / 4.5

% change in EBIT = 3.2 * 4.5

                             = 14.4%

Actual EBIT = Forecast *(1 + % change)

                    = 180,000*(1 + 0.014)

                    = $205,920

Therefore, The DRS's EBIT will be $205,920.

4 0
3 years ago
Accountant's define and understand Receivables:
den301095 [7]

Answer:

The answer is E.

Explanation:

Account Receivables is the type of account that is used to record expected money from the sale of goods on credit. Account receivables is an asset to the company because future economic benefits are expected to flow to the entity. It includes all forms of receivables.

Accounts receivables is being measured at cash net realizable value.

8 0
3 years ago
Read 2 more answers
The law of ______ returns states that as successive units of a variable resource are added to a fixed resource, beyond some poin
gladu [14]

The law of Diminishing returns states that as successive units of a variable resource are added to a fixed resource, beyond some point, the marginal product will decline.

<h3>What is the law of Diminishing returns?</h3>

The law of diminishing returns explains that when an investment in a particular area increases there will be a stop at the rate of profit from that investment, after a certain point.

Learn more about the law of Diminishing returns at brainly.com/question/17169713

#SPJ1

4 0
1 year ago
In today's decentralized business world, ________ the most important strategic decisions.
prisoha [69]
In today's decentralized business world, TOP MANAGERS are the most important strategic decision makers. Decentralization means distribution of decision making power through the hierarchy of an organization. Decentralization has increases in today's business world as it provides a dynamic environment to work.
Though, in decentralization power is also in hands of lower managers, middle managers, etc the top level managers still hold the rights to make decisions.
6 0
3 years ago
Colby Corporation has provided the following information Operating revenues from customers were $199,700. ·Operating expenses fo
topjm [15]

Answer:

d. $46,800

Explanation:

Operating revenues   $199,700

Less:

Operating expenses  <u> $111,000</u>

Operating Profit           $88,700

Less:

Interest expense         $9,200

Income tax expense   <u>$36,000</u>

Net Income                 $43,500

Add:                

Gain from sale           <u> $3,300  </u>

Total Net Income        <u>$46,800</u>

4 0
3 years ago
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