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Svetach [21]
2 years ago
7

Lawrence Company has cash in bank of $22,000, restricted cash in a separate account of $4,000, and a bank overdraft in an accoun

t at another bank of $2,000. Lawrence should report cash of:a. $20,000.b. $22,000.c. $25,000.d. $26,000.
Business
1 answer:
andre [41]2 years ago
3 0

Answer:

$22,000

Explanation:

It is worth noting that for accounting purposes, restricted cash is one that is not readily available. Such inaccessible funds, therefore, cannot be reported in financial statements. A bank overdraft, on the other hand, is a liability. Lawrence should therefore report cash worth $ 22,000 only.

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hen a manager decides to give a sales executive a bonus at the end of the fiscal year for a job well done, it is an _____ for th
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D. Extrinsic Reward

Explanation:

Extrinsic reward is a type of reward that can be seen and touched which is given to an employee or worker in an organization for achieving a certain objective or goal. They are tangible and visible rewards that comes from employers only and given to employees. In this case, the manager decide to reward the sales rep with bonuses for achieving a job well done at the end of the fiscal year. Most extrinsic rewards are usually financial base received external to the job.

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3 0
3 years ago
Farina Foods manufactures a dog food product called Special Scoops. Farina currently has 20,000 bags of Special Scoops in invent
BlackZzzverrR [31]

Answer:

B. process Special Scoops further into Prime Scoops and Canine Sports to increase profits by $37,000.

Explanation:

Calculation to determine what the decision that Farina should make and the reason is

First step is to calculate the Special scoops

Special scoops = 20,000 bags x ($7 - $1.50) - $20,000

Special scoops =20,000 bags x$5.5-$20,000

Special scoops =$110,000-$20,000

Special scoops = $90,000

Second step is to calculate the Prime scoops

Prime scoops = 15,000 bags x $8 + 10,000 bags x $6 - (20,000 bags x $1.50 + $20,000 + $3,000)

Prime scoops =$120,000+$60,000-($30,000+$20,000+$3,000)

Prime scoops = $180,000 - $53,000

Prime scoops = $127,000

Now let calculate the Profit increase

Profit increase =$127,000 - $90,000

Profit increase= $37,000

Therefore the decision that Farina should make and the reason is: PROCESS SPECIAL SCOOPS FURTHER INTO PRIME SCOOPS AND CANINE SPORTS TO INCREASE PROFITS BY $37,000.

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