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Brut [27]
3 years ago
5

A $53 petty cash fund has cash of $24 and receipts of $37. The journal entry to replenish the account would include a

Business
1 answer:
Karolina [17]3 years ago
3 0

Answer:

correct option is C. credit to Cash Short and Over for $8

Explanation:

given data

petty cash = $53

cash = $24

receipts = $37

solution

here  credit to cash over and short that is

cash over and short = cash + receipts - petty cash   .......................1

put here vale and we will get

cash over and short = $24 + $37 - $53

cash over and short = $8

so here correct option is C. credit to Cash Short and Over for $8

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Kendall Company has sales of 1,000 units at $60 a unit. Variable expenses are 30% of the selling price. If total fixed expenses
Lelu [443]

Answer:

There are several ways to compute the degree of operating leverage (DOL). A fairly intuitive approach is expressed below.

DOL = (sales - variable costs) / (sales - variable costs - fixed costs)

For Kendall, the DOL is computed as follows:

DOL = (1,000 * $60 - 1,000 * $60 * .30) / (1,000 * $60 - 1,000 * $60 * .30 - $30,000) = 3.5

<em>hope this helps</em>

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8 0
3 years ago
RAK Co. wants to issue new 20-year bonds for some much-needed expansion projects. The company currently has 5.7 percent coupon b
Hatshy [7]

Answer:

5.31%

Explanation:

FV = 1000

Coupon rate = 5.7%

No of compound = 2

Interest per period = $28.5

Bond price = $1048

No of years to maturity = 20

No of compounding till maturity = 40

Coupon rate set on new bonds = Rate(Nper, PMT, -PV, FV) * 2

Coupon rate set on new bonds = Rate(40, 28.5, -1048, 1000) * 2

Coupon rate set on new bonds = 0.02655 * 2

Coupon rate set on new bonds = 0.0531

Coupon rate set on new bonds = 5.31%

7 0
2 years ago
A club sold 80 boxes of candy, some at $1.75 and some at $3.25. total revenue was $160. an appropriate equation to determine the
Lorico [155]
20 dollars each box i think
5 0
3 years ago
Identifying and assessing a company’s resource strengths and weaknesses and its external opportunities and threats is called: Se
DiKsa [7]

Answer:

The correct answer is letter "C":  SWOT analysis.

Explanation:

The SWOT (<em>Strengths, Weaknesses, Opportunities, and Threats</em>) analysis is a study that aims to identify the internal and external components that can drive a company to success or failure. Internal components are represented by the strengths and weaknesses of the firm while the external factors are represented by opportunities and threats.

Identifying such company factors allows entities of taking action on time and taking advantage of the chances the market can provide. Usually, these factors are recognized during the project planning stage of the enterprise.

6 0
3 years ago
A trader buys a call option with a strike price of $30 for $3. Does the trader ever exercise the option and lose money on the tr
stepladder [879]

Answer:

The trader exercises the option and loses money on the trade if the stock price is between $30 and $33 at option maturity.  

Explanation:

A call option is the right to buy an asset at an agreed price on the maturity date. This agreed price is known as the strike price.

In the given scenario, the strike price is $30. The trader pays an additional $3 for the right to exercise the option, thus paying a total of $33 for the option.

Now, if the asset price on maturity date is greater than $30, the trader shall exercise the option and buy the asset. This is because the market price of the asset is greater than the price the trader pays for it, resulting in a favorable situation for the trader.

However, the trader paid a total of $33 for the stock. Hence, the trader shall lose money on the trade as long as the asset price is below $33.

Therefore,  if the asset price upon maturity is between $30 and $33, the trader shall exercise the option but lose money on the trade.

3 0
3 years ago
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