Answer:
Sept 1
DR PETTY CASH $350.30
CR CASH $350.30
Sept 30
DR POSTAGE EXPENSE $100
DR OFFICE SUPPLIES $116
DR CASH SHORT & OVER $4
CR CASH $220
Explanation: A petty cash is a small amount of money disbursed by an organisation for expenditures. This expenditures are usually day to day expenses such as postages, stationaries, office supplies and so on. From time to time, there may be cash shortages or the cash may be over for various reasons.
Answer: The correct answer is "d. Statements II and III only.".
Explanation: Assuming that the firm is a profit maximizer in a perfectly competitive situation, the firm will:
- II. Decrease the average wage.
- III. Reduce the number of worker-hours it hires.
Answer:
D. The registered representative should decline the transaction
Explanation:
Based on the information provided within the question it can be said that the representative should decline the transaction. When dealing with money and financial accounts the representative that will handle these types of transactions needs to sit down with the owner and new recipient of the account as well as see identification from both and have them sign authorization paperwork. These are safety measures in place so that a stranger isn't able to just call and take ownership of an account.
Answer:
Correct answer is option d
Overhead cost per unit
Product X100 = $825
Product Z300 = $1400
Explanation:
Overhead cost per unit = (OAR × machine hours/labour hours per unit)
<em>Each product would be charged for overhead in each department using the overhead absorption rate applicable in each department</em>
Overhead cost per unit X100:
($50×15) +($15 × 5) = $825
Overhead cost per unit Z300
($50×25) +($15 × 10) = $1400
Answer:
Correct option is C
Explanation:
Total E&P = $ 160000
Total voting Right Sold = 50/ (100+100) = 25%
Reduction of E& P due to exchange = Total E&P*Total voting Right Sold
Reduction of E& P due to exchange = 160000*25%
Reduction of E& P due to exchange = 40000
Reduction of E& P Lower of Total E&P*Total voting Right Sold or Amount realised
Reduction of E& P Lower of 40000 or (50*1000)
Reduction of E& P Lower of 40000 or 50000
Answer
C. A reduction of $40,000 in E&P because of the exchange.
