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Ket [755]
3 years ago
14

Expenses are recognized Multiple Choice when a petty cash account is established. when an employee is reimbursed for expenses in

curred on behalf of the business. when cash is collected from a customer. when the petty cash fund is replenished.
Business
2 answers:
saveliy_v [14]3 years ago
6 0

Answer: when the petty cash fund is replenished.

Explanation: it is convenient for every business to have small amounts of cash available for payment of items—expenses that are too small to merit a check. As a result businesses establish a petty cash fund to permit these cash disbursements. An advantage of the petty cash fund is that at the time of payments, no journal entry is required which avoids the need for making many entries for small amounts. As such, expenses are recognized only when the fund is reimbursed or replenished (usually at the end of the accounting period) when the business makes an entry in the journal.

AleksAgata [21]3 years ago
5 0

Answer: When the petty cash fund is replenished.

Explanation: Petty cash is a small or limited amount of money usually reserved for to handle and pay for certain expenditures that are too small to require the use or issuance of cheques.

As expenses are made from the petty cash,the expended amount are replenished periodically in order to ensure that the daily required sum needed to run or manage the needs of the Organisation is met.

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problem 08-07 (algo) you are the manager of a monopolistically competitive firm, and your demand and cost functions are estimate
Ad libitum [116K]

Demand function: Q = 48 - 2P

a) 2P = 48 - Q

Therefore the inverse Demand function is

P = 24 - Q/2

b) P = 24 - Q/2

Total Revenue = PQ = (24 - Q/2)*Q

TR = 24Q - Q2/2

MR = differentiating TR with respect to Q

MR = 24 - Q

We know a firm will maximize profit at MR = MC

TC = 6 + 3Q + Q2

MC = 3 + 2Q

Putting MR = MC, we have

24 - Q = 3 + 2Q

24 - 3 = 2Q + Q

21 = 3Q

Q = 21/3 = 7

Q = 7

Putting the value of Q in the equation P = 24 - Q/2

P = 24 - 7/2

P = 24 - 3.5

P = 20.5

Therefore the profit-maximizing output is 7 and the price is $20.5

c) TR = PQ = 20.5*7 = $143.5

TC = 6 + 3Q + Q2 = 6 + 3*7 + 7*7 = 6 + 21 + 49 = $76

Profit = TR - TC = 143.5 - 76 = $67.5

Therefore the firm's maximum profit is $67.5

d) a) entry will occur until profits are zero

In the long run, more and more firms will enter the market and the economic profit will be zero in the long run.

In economics, a Demand function is a graph depicting the connection between the price of a sure commodity and the amount of that commodity that is demanded at that fee. call for curves may be used both for the price-amount courting for a person client, or for all purchasers in a selected marketplace.

Learn more about the Demand function here: brainly.com/question/24384825

#SPJ4

5 0
2 years ago
due to changes in production, hanson steel gave each employee 75 percent of the cost savings. hanson steel uses a ________ compe
mihalych1998 [28]

Due to changes in production, Hanson steel gave each employee 75 percent of the cost savings. Hanson steel uses a <u>gainsharing </u>compensation plan.

A compensation plan refers to the practices, methods, and intentional approach that's used by an organization in maintaining financial interests and developing, retaining, attracting, and rewarding employees in an industry.

It should be noted that the gainsharing compensation plan refers to a compensation plan that is used to increase profitability as employees share in the company's gain. Since the workers share 75% of the cost savings, this is a gain-sharing compensation plan.

Read related link on:

brainly.com/question/25356534

8 0
2 years ago
Clarify the term fair discrimination​
NISA [10]

Answer:

it is a type of discrimination at workplace which is permitted by law

4 0
2 years ago
Read 2 more answers
True or false: An unchanging marketing communication program is critical to the success of every company. True false question. T
Rina8888 [55]

Answer:

false

Explanation:

you keep changing to what the people want because that t what the will buy new ideas because someone else will.

3 0
3 years ago
A proposed new project has projected sales of $132,000, costs of $66,000, and depreciation of $13,500. The tax rate is 30%. Calc
Verizon [17]

Answer:Operating cash flow $ _50,250__

Yes, the answer is same in each case

Explanation:

a)   EBIT + Depreciation - Tax

= ($132,000-$66,000-$13,500) + $13,500 - Tax

= $52,500 + $13,500-(30% x $52,500)

=$52,500 + $13,500-15,750

EBIT + Depreciation - Tax=$50,250

b)Top down OCF = EBIT - (EBIT x Tax) + Depreciation  

Top down OCF = $52,500  - ($52,500 x 30%) +  $13,500  

Top down OCF = $52,500 -15,750 + $13,500

Top down OCF =$50,250

Tax shield OCF =(Sales - Cost)(1-t) + Depreciation (t)

Tax shield OCF = ($132,000-$66,000) (1-0.30) + ($13,500 x0.30)  

Tax shield OCF =$66,000 x 0.7 + 4,050

Tax shield OCF = 46,200+ 4,050

Tax shield OCF = $50,250

Bottom Up OCF = Net Income + Dep

Bottom Up OCF =($132,000-$66,000-$13,500 ) - Tax ) + Dep

Bottom Up OCF = $52,500-(0.3 x $52,500 )+ $13,500

Bottom Up OCF = $52,500 -15,750 + $13,500

Bottom Up OCF =$50,250

2. Yes, the answer is same in each case

4 0
3 years ago
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