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4 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]4 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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3 years ago

On January 1, 2021, the Excel Delivery Company purchased a delivery van for $153,000. At the end of its five-year service life,

I am Lyosha [343]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

On January 1, 2021, the Excel Delivery Company purchased a delivery van for $153,000. At the end of its five-year service life, it is estimated that the van will be worth $15,600.

Annual depreciation= 2*[(book value)/estimated life (years)]

Year 1= (153,000/5)*2= 61,200

Year 2= [(153,000 - 61,200)/5]*2= 36,720

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4 years ago

For long-lived assets that have been in use for more than one accounting period, Depreciation Expense on the ______ Accumulated

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For long-lived assets that have been in use for more than one accounting period, Depreciation Expense on the debit. Accumulated Depreciation on the credit.

Therefore, the entry that was made by the accountant, assets and stockholders' equity will be decreased.

Depreciation simple defined as the allocation of the cost of a long-lived, tangible asset over its useful life making an expense on the income statement that is matched against the revenue gotten by the use the asset.

The effect of recording depreciation expense on the accounting equation is that Total assets decrease and Total stockholders' equity decreases

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3 years ago

Read 2 more answers

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notsponge [240]

Answer:

Premium pricing

Explanation:

Premium pricing is the strategy of charging a high price to maintain a brand, a business, a product or a product status . In this, the sales volumes remain small, by keeping prices high. This allows carefully sustaining the value, status, prestige and brand value.

So according to the given scenario, Katlin wants to expand into new markets and planning to charge a higher price as compared to the competitors so it reflects the concept of premium pricing

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3 years ago

Section 16(b) of the 1934 Securities Exchange Act _____

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Answer:

Section 16(b) of the 1934 Securities Exchange Act provides for recapture by the corporation of all profits realized by an insider from the purchase or sale of corporate stock within a 6 month period.

Explanation:

This section of the 1934 Securities Exchange Act was put in place to uphold fairness and equity in the financial markets. Without its provision, insiders could advantage of privileged information and exploit it for personal gain.

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3 years ago