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3 years ago

Cash larceny involves stealing cash from an organization before it is recorded on the organizationâ€™s books and records.

Business

1 answer:

viktelen [127]3 years ago

8 0

Answer:

False

Explanation:

Cash larceny is the action of stealing company cash already been registered in the books of accounts for a specific accounting period. An employee of the company perpetrates the theft. It involves the employee scheming and executing the taking away of cash recorded in the books without the employer's authority.

Cask larceny happens in the cash register, in the safe, or from cash deposits in transit. In most instances, larceny involves small amounts of money. As the cash is recorded in the books of accounts, larceny can be detected with proper cash reconciliation.

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If an economy maintains a small rate of growth for a long period of time, then the size of the economy?

brilliants [131]

An economy maintains a small rate of growth for a long period of time, then the size of the economy: can increase by a large amount.

The real gross domestic product is employed to calculate it (GDP). long growth is delineated as an economy's ability to make additional products and services over time

There are 3 main factors that drive the economic process, Accumulation of capital stock will increase parturient inputs, like employees or hours, worked, and Technological advancement.

Physical capital, human capital, labor, and technology area unit all typically want to model growth in social science. Increasing the quantity or quality of working-age folks, the tools they need at their disposal, and therefore the recipes they need for combining labor, capital, and raw materials can end in higher economic output.

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3 0

2 years ago

Sun Corporation manufactures a special line of graphic tubing items. For each of the next two coming years, the company estimate

Virty [35]

Answer:

Explanation:

Production Budget = Sales+Ending Inv-Op Inv

= 75000+10000-20000 = 65000 units

Ending Inv is Three Month Production = 65000*(3/12) = 16250 unit

Ending Inv = 16250unit*5 Feet/unit =81,250 feet

Mat Reqd for 65000unit = 65000*5 = 325,000 feet

SO Mat Reqd in 2008 = Mat Reqd + Ending Inv -Op Inv

= 325000 + 81250 - 50000

= 356,250 feet

3 0

3 years ago

A small manufacturing firm uses roughly 3400 pounds of chemical dye a year. Currently the firm purchases 300 pounds per order an

kupik [55]

Answer:

Consider the following calculations

Explanation:

First calculate the Economic Order Quantity (EOQ) ignoring the discount.

Economic Order Quantity (EOQ)= √ (2DS/H)

D- Demand per year= 3400 pounds

S- Ordering cost per year= $100

Per unit cost= $3 per pound

H- Holding (carrying) cost per unit per year=$0.51( 17% of purchase price)

So by applying the above formula, we get the following answer:

EOQ= SQRT (2*3400*100/0.51)= 1154.70 units

Economic Order Quantity (EOQ)= 1154 units

Discounted Order Quantity (DOQ) = 1500 units

Annual Orders under EOQ = Demand ÷ EOQ = 3400 ÷ 1154 = 3 orders

Annual Orders under DOQ = Demand ÷ DOQ = 3400÷ 1500 = 2.40 or 3 orders

Average Inventory under EOQ = EOQ ÷ 3 = 1154 ÷ 3 = 384.90 units

Average Inventory under DOQ = DOQ ÷ 3 = 1500 ÷ 3 = 500 units

A-Saving from reduction in Price

= Demand × Full Price × Discount Rate

= 3400× 3 × 0.33 = $ 3366

B-Saving from reduction in orders

= Orders reduced × Order Cost

= (3− 3) × 100 = 0

C-Increase in holding cost

= Increase in average inventory × holding cost per unit per annum

Holding cost is 17% of purchase price

So for 500 units it is=$170 (17% of $2 per pound)

For 384.90 units= $196.30 (17% of $3 per pound)

Increase in holding cost= 170-196.30= $-26.30

Net savings on discount order quantity = A + B − C = 3366 + 0 – (-26.30) = $3392.30

Since the net effect on income is positive, the store should place the order for quantity discount.

6 0

3 years ago

REM Consulting is completing the accounting information processing at the end of the fiscal year, December 31. The following tri

belka [17]

Answer:

Net Income 3900

Explanation:

REM Consulting

Un adjusted Trial Balance Adjusted Trial Balance

Debit Credit Debit Credit

Cash 13,000 13,000

Accounts Receivable 1,500 1,800

Prepaid Insurance 600 200

Supplies 3,800 3,000

Machines 30,000 30,000

Acc. Depreciation 12,000 17,500

Wages Payable 900

Unearned Fees 6,700 6,500

Owner’s Capital 24,000 24,000

Owner’s Drawing 4,800 4,800

Fees Earned 25,000 25,500

Wages Expense 14,000 14,900

Depreciation Expense 5,500

Supplies Expense 800

Insurance Expense 400

Total 67,700 67,700 74,400 74,400

Adjusting Entries

SR. No Accounts Debit Credit

1) Accounts Receivable 300

Sales 300

As Sales increase so do the Accounts receivable.

2) Insurance Expense 400

Prepaid Insurance 400

Insurance expired by $400.

3) Supplies Expense 800

Supplies 800

Supplies used up by amount $800.

4) Depreciation Expense 5,500

Accumulated Depreciation 5,500

Depreciation Expense amounts to $ 5,500

5) Fees Earned 200

Unearned Fees 200

Provided Services for which payment had been collected,

6) Cash 500

Fees Earned 500

Received $500 for services provided.

7) Wages Payable 900

Cash 900

Paid wages payable to the employee.

REM Consulting

Net income

Fees Earned 25500

Wages Expense 14,900

Depreciation Expense 5,500

Supplies Expense 800

Insurance Expense 400

Net Income 3900

6 0

3 years ago

Shorty is worried that his health may soon deteriorate to the point where he will no longer be able to take care of his own fina

aev [14]

Him asking someone to pull the plug

6 0

3 years ago