Answer:
September 9, petty cash fund is established
Dr Petty cash 440
Cr Cash 440
September 30, petty cash fund expenses
Dr Merchandise inventory 44
Dr Postage expenses 54
Dr Miscellaneous office expenses 144
Dr Cash short and over 10
Cr Petty cash 252
September 30, petty cash fund reimbursement
Dr Petty cash 252
Cr Cash 252
October 1, petty cash fund increased to $485
Dr Petty cash 45
Cr Cash 45
Answer: All of a country's citizens pay the <u>government</u> an income tax that is 7% of their annual earnings. This tax is a <u>Proportional</u> tax.
<u>Explanation:</u>
The government of a country receives revenue in many forms. With this revenue, the government provides services to the people of the country and works for their betterment. One of the modes of income of the government is the taxes that the people pay to the government.
The citizens of the country have to pay a certain percentage of the income that they on an annual basis. That percentage is 7% of the annual earnings to the government in the form of taxes. This form of tax is proportional tax because only a certain proportion of the total income is to be paid by the people to the government. In return the government has to provide services like building roads, tracks, providing street lights and so on which is to make the lives of the people easier and better.
Answer: 1,425.2 units
Explanation:
Recorder point
:
Lead time = 4 weeks
Expected demand during this time is
= No. of weeks × Weekly demand
= 4 × 273
= 1,092 units
Standard Deviation = 95 units
Standard Deviation for the 4 week period is:
= 170 units
At the 95% probability level, the z-score is 1.96 (From the Z- table)
Safety Stock = Z-value × Standard Deviation for the 4 week
= 1.96 × 170 units
= 333.2 units
Recorder point = Safety stock + expected demand during the time period so,
= 333.2 units + 1,092 units
= 1,425.2 units
