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
Yuliya22 [10]
3 years ago
13

When a petty cash fund is in use: Multiple Choice Cash is debited when funds are replenished. Petty Cash is credited when funds

are replenished. Expenses paid with petty cash are recorded when the fund is replenished. Petty Cash is debited when funds are replenished. Expenses are not recorded.
Business
1 answer:
Elena-2011 [213]3 years ago
5 0

Answer:

The correct answer is letter "C": Expenses paid with petty cash are recorded when the fund is replenished.

Explanation:

Petty cash funds are amounts of money companies have handy to take care of small payments. Those payments are too small that do not require a check to be written for their payment. In some companies, each department manages its own petty cash box for expenditures such as unitary office supplies.

<em>For accounting purposes, the transactions incurred with petty cash are recorded only when the petty cash was used in full and a new fund is to be provided.</em>

You might be interested in
When the stockholders receive a dividend, how would this affect the equity of a business?.
morpeh [17]

Assets and total equity will both be decreased is When the stockholders receive a dividend, how would this affect the equity of a business.

<h3>Who are the stockholder?</h3>

Stockholders are the people who have purchased the stocks and have invested in the particular firm, they are the people. The stockholders hold some of the share of any company, which they can sell or purchase anytime.

Thus, Assets and total equity will both be decreased is When the stockholders

For more details about Stockholders, click here:

brainly.com/question/13142622

#SPJ1

7 0
2 years ago
If the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium pri
never [62]

Answer:

If the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium price to <u>rise and the equilibrium quantity to stay the same</u>.

Explanation:

Perfectly inelastic demand curve indicates the quantity demanded for the life-saving medicine remains the same or does not change in response to a change in price.

Since a part of the law of supply states that the lower the quantity supplied, the higher the price; a reduction in the supply of the life-saving medicine will increase its price.

The combining effect of the two above will lead to an increase in the equilibrium price while the equilibrium quantity will remain the same as it will not respond to the change in price.

The attached graph explains this more clearly. In the graph, the demand curve DD is used to represent the perfectly inelastic demand curve for the life-saving medicine. Therefore, the quantity remains at q no matter the changes, either increase or decrease, in price. Movement from the supply curve S1 to S2 indicates a reduction in supply of the life-saving medicine which causes an increase in the equilibrium price from Po to P1 while the equilibrium quantity stays at q.

This therefore shows that if the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium price to <u>rise and the equilibrium quantity to stay the same</u>.

8 0
3 years ago
Your store has average sales of $1,680 per day. Its shrinkage rate is 3%. What will its losses be for an entire year?
Lerok [7]

Answer:

$18,396

Explanation:

Average sales of the store per day = $1,680

Number of days in a year = 365

Total sales in a year = $1,680  x 365 = $6132,200

Shrinkage rate = 3%

Losses for an entire year = 0.03 x $6132,200 = $18,396

6 0
2 years ago
Kwik taxi service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven
zimovet [89]

Answer:

Explanation:

Depreciation cost :

2016: <u> expected useful life</u>

           Cost - salvage value       X    usage

= <u>140,000</u>

24,300-700

=5.93*28,000 = $166,101.69

2017:  <u>expected useful life</u>

           Cost - salvage value       X    usage

= <u>140,000</u>

24,300-700

=5.93*33,000 = $195,762.71

Depreciation Expense:

2016:<u> (cost-salvage value)*actual activity performed</u>

             total estimated useful life

= <u>(24,300-700)*28,000</u>

          140,000

=$4,720

2017: <u>(cost-salvage value)*actual activity performed</u>

             total estimated useful life

= <u>(24,300-700)*33,000</u>

          140,000

=$5,562.86

6 0
3 years ago
A supply curve has equation q equals 4 p minus 24 ⁢ comma where p is price in dollars. A dollar-sign 3 tax is imposed on supplie
emmasim [6.3K]

Answer: New supply equation = Qs= 4P - 36

Explanation: A supply equation shows us the mathematical relationship between quantity supplied and the price of the good. Since price and supply are positively related, P must carry a positive sign in the supply equation.

Given, supply is Qs=4P - 24

P is the price paid by consumers in the market.

When a $3 tax is levied , price sellers receive becomes P-T = P - 3

So, the new supply equation will be

Qs= 4 (P-3) - 24 Qs= 4P - 12 - 24  Qs= 4P - 36

5 0
3 years ago
Other questions:
  • Big Canyon Enterprises has bonds on the market making annual payments, with 12 years to maturity, a par value of $1,000, and a p
    8·1 answer
  • Assume Metro Corporation had a net income of $ 2,200 for the year ending December 2018. Its beginning and ending total assets we
    12·1 answer
  • The Roget Factory has determined that its budgeted factory overhead budget for the year is $15,500,000. They plan to produce 2,0
    13·1 answer
  • Transactions related to purchases and cash payments completed by Wisk Away Cleaning Services Inc. during the month of May 20Y5 a
    8·1 answer
  • A model of sea ice coverage is made with sketches and diagrams. it shows that ice cover increased in the antarctic and decreased
    14·2 answers
  • For direct price discrimination to work a. ​The firm need not be able to identify the members of the low-value group b. ​The fir
    9·1 answer
  • When a principal falsely leads a third party to believe that another individual serves as his or her agent, the principal has cr
    5·1 answer
  • When using the accounting equation, recording the purchase of equipment for cash would include an increase to the (Cash/Equipmen
    12·1 answer
  • Question 7 of 10
    11·1 answer
  • After a lender notifies the trustee that a borrower is in default, the trustee must take all the following actions EXCEPT
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!