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3 years ago

6

Foreign companies that are listed on the New York Stock Exchange (NYSE) and following their domestic GAAP must report their inco

me in terms of: the International Accounting Standards. the GAAP of their home country. the GAAP of the United States. All of the above

1 answer:

Arlecino [84]3 years ago

7 0

The generally accepted accounting principles of the United States

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The actual cash received from cash sales was $3,930 and the amount indicated by the cash register total was $3,880. the journal

Nuetrik [128]

The actual cash received from cash sales was $14,356 and the amount indicated by the cash register total was $14290

a.what is the amount deposited in the bank for the day's sales?

14,356
Because this is the amount which is actually received by sales

b.What is amount recorded for the day's sales?

14,290
Because this is the amount which has been recorded in the cash register.

c.How should the difference be recorded?

Dr Cash 14,356
Cr Over/Short 66
Cr Sales 14,290

d. If a cashier is consistently over or short what action should be taken?

First of all we need to find out that whether the cashier is genuinely making mistakes or there is a case of theft.There would be some close monitoring. If they are just mistakes, maybe some extra mentoring in cash handling would help.

E5-18

Part a and b are informational and thus we dont have to do anything with them.

Part c and d are reconciling terms.

Parts e and f needs entries to adjust the company's books. For e there needs to be a debit to cash for the incorrect amount and a credit for the correct amount. For f there needs to be a credit to cash.

E.
(Dr) Cash in bank $540
(Cr) Accounts payable $540
$710 - $170

F.
(Dr) Bank charges $50
(Cr) Cash in bank $50

Bank reconciliation:
Cash balance per book $24,010
Add: error $540
Less: Debit memo $50
Adjusted book balance $24,500

Cash balance per bank $22,750
Add: Deposits in transit $9,100
Less: Outstanding checks $7,350
Adjusted bank balance $24,500

Hope you get it.

Get back to me in case you have any doubts.
I would be happy to help.

5 0

3 years ago

Sasha works for a large corporation, and sometimes, she finds it difficult to see how she fits into the corporate picture. Howev

FinnZ [79.3K]

Answer:

C. It can boost employee productivity.

Explanation:

Sasha's company decision to establish an employee stock ownership plan has the potential benefit of boosting employee productivity because staff members and people in general are motivated by rewards.

Employee stock ownership plan is a staff reward scheme where a company's employees are awarded shares of the company they work for, hence they become both staff and shareholders of that company.

Sometimes these plans are futuristic, they are awarded at a certain date in future if the company achieves certain goals. Hence the productivity of employees are boosted in the bid to boost the company's performance and achieve their share rewards

8 0

3 years ago

Malko Enterprises’ bonds currently sell for $1,020. They have a 6-year maturity, an annual coupon of $75, and a par value of $1,

mel-nik [20]

Answer:

Current yield = <u>Annual coupon</u>

Current market price

Current yield = <u>$75</u>

$1,020

Current yield = 0.0735 = 7.35%

The correct answer is D

Explanation:

Current yield equals annual coupon divided by the current market price of the bond.

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3 years ago

Irving’s Rib Shack is a regional chain of barbecue restaurants. They have a long-standing policy that the recipe for their signa

Drupady [299]

Answer:

The correct answer is <u>trade secret</u>

Explanation:

Trade secret can be considered as any secret or confidential information regarding business that provides a company with a competitive advantage over other company's in the market. Trade secret can be anything like commercial secrets, advertising strategies, recipe formula or manufacturing secrets etc. So therefore by reading the question it is quite clear that the intellectual property protection that keeps the recipe a secret is trade secret.

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3 years ago

Given the data in the chart above, which statement explains why these three countries would benefit from specialization and trad

Sladkaya [172]

Given the chart, France, Italy and Greece all have very similar hours with similar averages for each activity. Therefore, no country has an absolute advantage in all of the activities.

7 0

3 years ago

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