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3 years ago

An income statement account that is used to record cash overages and cash shortages arising

Business

1 answer:

Gre4nikov [31]3 years ago

7 0

Answer:

C) Cash Over and Short account.

Explanation:

Cash Over and Short account also known as cash over short account is an income statement account where shortages or overages in petty cash handling are recorded. There are cases where amount received or the balance at hand is more than the petty cash ledger balance, that is called cash overage but if the reverse is the case, it is called cash shortage. Any cash shortage or overage must as a matter of rule be recorded in the books of account created for that purpose.

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You are analyzing two companies that manufacture electronic toys – Like Games Inc. and Our Play Inc. Like Games was launched eig

frosja888 [35]

Answer:

A LOW days of sales outstanding represents an efficient credit and collection policy. Between the two companies, Like Games is collecting cash from its customers faster than Our Play, but both companies are collecting their receivables less quickly that the industry average. (5.51 days)

Our Play’s fixed assets turnover ratio is lower than that of Like Games. This could be because Our Play is a relatively new company, so the acquisition cost of its fixed assets is higher than the recorded cost of Like Games’s net fixed assets.

Like Games’s total assets turnover ratio is 1.05x, which is lower than the industry’s average total assets turnover ratio. In general, a higher total assets turnover ratio indicates greater efficiency.

Explanation:

DSO

Like Game 365 / (100,000 / 2,700) = 9.855

Our Play 365 / (100,000 / 3,900) = 14.235

Average 365 / (255,000/3,850) = 5.510

Fixed assets turnover:

LG 100,000 /55,000 = 1.82

100,000 / 95,000 ) = 1.052

average 255,000 / 234,600 = 1.087

OP 80,000 /55,000 = 1.45

Avg 255,000 / 216,750 = 1.18

4 0

3 years ago

The following is a partially completed lower section of a departmental expense allocation spreadsheet for Brickland. It reports

Arada [10]

Answer:

a. $6,400.

Explanation:

In solving this question on Computing the amount of Purchasing department expense to be allocated to Assembly, we'll have to use the formula below:

Purchasing department expense to be allocated to Fabrication = Total Cost of purchasing department X number of purchase order in / Total numbers of purchase orders in all operating departments

= $32000 X 4/20 = $6,400

3 0

3 years ago

The law recognizes each person's right to live his or her life without being subjected to unwarranted and undesired publicity.

Margarita [4]

Answer:

Privacy

Explanation:

The law gives right to every person to their own privacy i.e. for one to live without being subjected to unwarranted and undesired publicity. The right to privacy actively deals with issue surrounding the personal matters of an individual and the right for them to be let alone.

A violation of this right is called the tort of invasion of the right to privacy. The tort of invasion of the right to privacy occurs when an individual sues another person who he/she believes has trespassed on his right to privacy. This trespass might come in form of disclose of their private information, or using the person`s name and associated things for another person`s gain without their consent.

4 0

3 years ago

Write short notes on-: a)Micro enterprises b)cottage industry

Effectus [21]

Answer:

cottage industry is a small-scale, decentralized manufacturing business often operated out of a home rather than a purpose-built facility

Explanation:

6 0

3 years ago

In the process of benchmarking for a variable expense (such as payroll) the typical metrics used are "Total Dollars" and "Dollar

Verdich [7]

The answer is false

8 0

3 years ago