<span>In this decision, since collective decision making is norm, Luke would be the initiator, as well as a decider. Since he has somewhat equal say in the matter, he is the one who is bringing forth the problem and starting change.</span>
Answer:
Both of these answers are the primary differences.
1.The accrual basis records revenues when services or products are delivered and records expenses when incurred.
And
2.The cash bases records revenues when cash is received and records expenses when cash is paid.
Explanation:
Under the cash basis, entries in the book of accounts are made when cash is received or paid and not when the receipt or payment has become due.
While
Under the accrual basis, however, revenues and costs are recognised in that period in which they occur rather when they are paid
Accrual basis is more generally accepted than cash basis, as it gives a truer image of enterprise performance in an accounting period.
Answer: Protect people from severe and sometimes fatal electrocution by monitoring for electrical leakage to ground.
Explanation:
The main purpose of a Ground Fault Circuit Interrupter (GFCI) is to ensure that when a person gets electrocuted, the flow of electricity is cut off quickly so that no serious injuries or death occurs.
It works by monitoring the electrical leakage to the ground by checking to see if the current going to and coming from the equipment differ by a certain amount and if it does, the GFCI will interrupt the circuit.
Answer:
The correct answer is option (A).
Explanation:
According to the scenario, the computation of the given data are as follows:
Pension Expense = Service Cost + Interest on Projected Benefit Obligation + Amortization of prior service cost due to increase in benefits - Expected return on plan assets - Amortization of net gain
By putting the following value in the formula, we get
Pension Expense = $2,100,000 + $805,000 + $380,000 - $532,000 - $205,000
= $2,548,000
Answer:
Journal Entry for establishing a Petty cash fund
Date Particulars Debit Credit
Jan 1 Petty cash A/c $270
To Cash A/c $270
(Being Petty cash fund established)
Journal Entry for reimbursement of petty cash
Date Particulars Debit Credit
Jan 8 Postage A/c $36
Transportation A/c $13
Delivery Expense A/c $15
Miscellaneous Exp A/c $25
To Cash A/c $89
(Being reimbursement of petty cash expenses
incurred from petty cash fund)
Journal entry for Increasing the limit of Petty cash fund
Date Particulars Debit Credit
Jan 8 Petty Cash A/c $50
To Cash A/c $50
(Being Petty cash fund limit extended to $320 i.e., we have
to add $50 to existing fund in order to make it $ 320.)
