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kaheart [24]
3 years ago
12

Q 7.28: A multi-location flower shop receives payment from customers in person, over the Internet, and through the mail. When ch

ecks come in the mail, the mail clerks send the checks to the cashier’s department and a list of checks to the accounting department. What is the primary reason the company engages in this practice?
Business
1 answer:
Lapatulllka [165]3 years ago
5 0

Answer:

The reason for such practice is to ensure the chance for perpetrating fraud is eliminated.

Explanation:

The cash internal control set by the company is to ensure that cash of the business is not stolen,since cash receipt is a high fraud area,every attempt must be made at ensuring that accurate cash is accounted by segregating the duty for cash collection and cash receipt recording.

In smaller firms,a representative of the team handing cash and the accounting department would have to be present when mails containing cash are to be opened such that one counts and the other takes appropriate record of the cash received.

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Of the following efficient market hypotheses, researchers have stated that markets are somewhat efficient in the ____________ se
NISA [10]

Answer:

strong form

Explanation:

The efficient market hypotheses refers to a theory in which the prices of the assets depicts completely with respect to the information available

In this, the weak states that purchasing and the selling of the stock considered to be invalid also the stocks is either overvalued or undervalued. Also, it can be figure out with the fundamental analysis

The semi-strong states that it depicts all the information with related to the stock price also the investor could buy the stock but no benefit over and above could be taken

The strong states that all the information i.e. public or private with related to the stock price should be depicted also no profit should be considered if it is above the average investor even if the new information is also mentioned

Therefore this is a case of strong form

5 0
3 years ago
The maintenance of money’s value is said to depend on the monetary authorities. What might the monetary authorities do to devalu
erica [24]

Answer: One thing that could be done to devalue a currency is to issue more currency into their markets.

Explanation:

Any asset or goods can be based on how scarce the product or assets it. The authorities in the foreign markets could make more currency and this will devalue the currency because the market will be saturated. The money/currency will still be at the same value as before but the purchasing power will be reduced since there is an added supply of money in the economy.

8 0
3 years ago
The fed increases the quantity of money. in the short run, the quantity of money demanded ______ and the nominal interest rate _
Nimfa-mama [501]

The quantity of money demanded <u>increases</u> and the nominal interest rate <u>falls.</u>

In the short run, if the Fed(Federal Reserve) increases the quantity of money, the quantity of money demanded will increase and the nominal interest rate falls.  

The quantity of the money supplied and the nominal interest rates has an inverse relation. That is, when there is a huge supply of money in a short-term, it will cause an increase in the nominal interest rate.

The nominal interest rate refers to the interest rate before adjusting to inflation or price-hike. It balances the supply and demand of money.

So when there is an increase in the supply of money ,there will be the resulting increase in the demand of money too. The total money that the population wants to hold is referred as the money demanded.

Learn more about Fed( US Federal Reserve) at brainly.com/question/25843620

#SPJ4

8 0
2 years ago
Responsible boaters use cleaning products that won't harm lakes or rivers. which product is a responsible choice for cleaning yo
Stella [2.4K]
Keeping the boat you are riding clean is the most fundamental responsibility to do in order to maintain the structure and efficiency of the watercraft. In addition, its hull is at most important to be cleaned using detergents. Among this type of detergent that is commonly used in cleaning would be a non-phosphate detergent.
5 0
3 years ago
Read 2 more answers
Master Corp. issued 8%, $80,000 bonds on February 1, 2020. The bonds pay interest semiannually each July 31 and January 31 and w
Archy [21]

Answer:

Master Corp.

a. Journal Entries:

1. Feb. 1, 2020:

Debit Cash $85,685

Credit 8% Bonds Payable $80,000

Credit Bonds Premium $5,685

To record the issuance of bonds at premium.

2. July 31, 2020:

Debit Interest Expense $2,999

Debit Bonds Premium $201

Credit Cash $3,200

To record the first payment of interest on the bonds and amortization of premium.

December 31, 2020:

Debit Interest Expense $2,493

Debit Bonds Premium $174

Credit Interest Payable $2,667

To accrue interest expense and bonds payable.

4. January 31, 2021:

Debit Interest Expense $499

Debit Bonds Premium $34

Debit Interest Payable $2,667

Credit Cash $3,200

To record the payment of interest.

b. Balance Sheet as of December 31, 2020:

Liabilities:

Bonds Payable $80,000

Bonds Premium $5,310 ($5,685 - 201 - 174)

Income Statement for the year ended December 31, 2020:

Interest Expense $5,492

c. The total cost of financing the bonds for full term is $58,315.04.

d. The total cost of financing is $58,315.04

e. Interest expense would have remained the same.

f. The interest expense would have remained the same as it is not dependent on the premium amortization method used.

Explanation:

a) Data and Calculations:

February 1, 2020:

Face value of issued bonds = $80,000

Price of issued bonds =          $85,685

Premium on bonds =                $5,685

N (# of periods)  20

I/Y (Interest per year)  8

PMT (Periodic Payment) = $ 3,200  

Results:

PV = $85,684.96

Sum of all periodic payments = $64,000.00

Total Interest $58,315.04

July 31, 2020:

Cash payment =   $3,200 ($80,000 * 4%)

Interest Expense    2,999 ($85,685 * 3.5%)

Premium amortized $201

December 31, 2020:

Interest Payable =   $2,667 ($80,000 * 4% * 5/6)

Interest expense = $2,493

Premium amortized   $174

January 31, 2021:

Interest Expense $499

Bonds Premium $34

Interest Payable $2,667

5 0
3 years ago
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