1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tju [1.3M]
3 years ago
8

Jim Heary is the custodian of petty cash. Jim, who is short of personal cash, decided to pay his home electrical and phone bills

from petty cash. He plans to pay it back next month. Do you feel Jim should do so? You make the call. Write down your specific recommendation to Jim.
Business
1 answer:
Mkey [24]3 years ago
8 0

Answer: Yes, <em>Jim should pay back the money he used for his electric and phone bill.</em> Since he is the custodian of petty cash for the company it is his responsibility to account for the money. The petty cash should only be used for work related expenses. The company could ask for an audit and Jim could get fired because there no record of the cash being given out for company expenses. Jim should put an IOU in the petty cash drawer and explain why it was taken out. Jim should also speak with one of the managers of the department to explain about the missing petty cash.

You might be interested in
Roberts Company manufactures and sells one product. The following information pertains to each of the company’s first three year
Butoxors [25]

Answer:

Break Even Output = 60000 units [In first year of operation]

Explanation:

Break Even point is where : Profit i.e Total Revenue - Total Cost = 0 , so Total Revenue = Total Cost.

Total Revenue = Price x Quantity

Let quantity = x

So, Total Revenue = 52x  

Total Cost = Total fixed cost + total variable cost

= (22 + 14 + 5 + 3)(x) + (270000 + 210000)

= 44x + 480000

Profit = Total Revenue - Total Cost  = 0 :

→ 52x - 44x - 480000 = 0

8x = 480000

x = 480000 / 8 = 60000

x i.e Break Even Output = 60000 units [In first year of operation]

5 0
3 years ago
Rachel receives employer provided health insurance. The employer's cost of the health insurance is $6,800 annually. What is her
kati45 [8]

Answer: $0

Explanation:

An Employee-sponsored Health Insurance within this price range is deducted as an expense and not taxed. This applies to all health coverage that cost below $10,200 for individuals and $27,500 for families. Any amount above this attracts a 40% tax levied on the excess amount (over $10,200 or $27,500).

This is Known as the Cadillac Tax. it is used to limit the amount of health coverage an employer has for employees, thereby reducing the amount an they can deduct as expense. This curbs employers from offering needlessly expensive coverage with the sole aim of reducing payable tax.

6 0
3 years ago
A BBB-rated, $1000 face value, corporate bond has a yield to maturity of 8.2%. A U.S. Treasury security has a yield to maturity
Shalnov [3]

Answer:

Price of treasury bond in terms of percentage of face value is 102.106%

Explanation:

Given:

Face value (FV) = $1000

Coupon rate = 7% or 3.5% semi-annually

Coupon payment  (PMT) = 1000×0.035 = $35

YTM (rate) = 6.5% or 3.25% semi-annually

Maturity period (nper) = 5×2 = 10 periods

Using PV function to calculate price of treasury bond:

=PV(rate,nper,pmt,FV)

Price of bond is $1021.06 (it is negative as it is a cash outflow)

Price of bond in terms of percentage of face value = \frac{1021.06}{1000} \times100

=102.106%

5 0
4 years ago
Question is in the image below! please help!
iogann1982 [59]

Based on the discount offered by Next furniture, the discounted price of a sofa would be $669.33

<h3>What is the discounted price of the sofa?</h3>

This can be found as:

= Original price x (1 - discount rate)

Solving gives:

= 999 x (1 - 33%)

= 999 x 0.67

= $669.33

Find out more on discount rates at brainly.com/question/1385340.

#SPJ1

6 0
2 years ago
Performance management differs from performance appraisal in that performance management _____.
AysviL [449]
Performance management differs from performance appraisal in that performance management describes the activities an organization does to improve their employee performance. Performance appraisal is the specific evolution a company will perform on their employees to see in what aspects of the employees job they perform effectively or ineffectively.

.

3 0
3 years ago
Other questions:
  • And currency risks are to key country success factors as land costs and​ ________ are to key region success factors.
    11·1 answer
  • Reba dixon is a fifth-grade schoolteacher who earned a salary of $38,000 in 2017. she is 45 years old and has been divorced for
    15·1 answer
  • If consumers are willing to pay a higher price than previously for each level of output, we can say that _______ has occurred. A
    9·1 answer
  • Suppose that a borrower and a lender agree on the nominal interest rate to be paid on a loan. Then inflation turns out to be low
    14·2 answers
  • Materials purchases (on credit). Direct materials used in production. Direct labor paid and assigned to Work in Process Inventor
    12·1 answer
  • Paula is 24 years of age and owns a $20,000 whole life policy with a guaranteed insurability rider. At age 25, Paula exercised h
    15·1 answer
  • Dr. regan was hired by the siri company to assist them with retaining their employees without lowering profits and expectations.
    5·1 answer
  • What is the purpose of a job objective?
    15·2 answers
  • What are the time duration for capacity planning, and which one provides the greatest value for strategic capacity planning?
    11·1 answer
  • a company that prepares its financial statements according to international financial reporting standards (ifrs) accounts for a
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!