The entry to replenish the petty cash fund will include a credit to cash for $385.
What is petty cash fund?
When regular purchasing techniques are impractical, such as when buying office supplies or paying employees, a tiny sum of money called petty cash is utilized instead.
The entry to replenish the petty cash fund amount will include:
Fund amount : $450 - Used
Fund amount :$450 - $382 = 68
cash on hand - remaining ; $68 - $65 = $3
Used + remaining ; $382 + $65 = 385
As a result, a credit to cash for $385.
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Answer:
Simple Interest=P*r*n= $20 million * 0.18 * 1= $3.6 million
Therefore amount accumulated= $20 million + $3.6 million = $23.6 million
Amount accumulated through Compound Interest=P×(1+r) ^t
= $20 million( 1+0.18/12)^12= $23.912 million
Explanation:
Simple interest is based on the principal amount of a loan or deposit, while compound interest is based on the principal amount and the interest that accumulates on it in every period.
Answer:
Derived demand accelerates changes in markets.
Explanation:
Derived demand can be defined as the way in which the demand for a good or service tend to result from the demand for the related good or service and this occured when their is the demand for either good that are tangible or intangible goods where a market exists for both related goods and services.
In another word Derived demand occured in a situation where the demand for one good or service happens because of the want for another good or service Example is increase in the need for Shoes material or equipment because of the increase in the need for Shoes
because the factor of production by a company is dependent on the demand by consumers for the product produced by that company which is why the transition to become demand-driven is slowly occurring in many industries.
Hence, The factor that increases the volatility of demand in industrial markets is "Derived demand accelerates changes in markets"
Answer: $420,000 of expense in the income statement as an ordinary item. Douglas’ accounts for this change in estimate in the period of change by reporting the newly calculated amount of bad debt expense as an ordinary item of income. Changes in estimate are not considered an extraordinary item, an error correction, or a change in accounting principle.
The Schengen Area is one of the greatest achievements of the EU. It is an area without internal borders, an area within which citizens, many non-EU nationals, business people and tourists can freely circulate without being subjected to border checks. Since 1985, it has gradually grown and encompasses today almost all EU States and a few associated non-EU countries.
While having abolished their internal borders, Schengen States have also tightened controls at their common external border on the basis of Schengen rules to ensure the security of those living or travelling in the Schengen Area
