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Greeley [361]
3 years ago
6

Gross Company established a $250 petty cash fund on January 1. On March 1, the fund contained $160 in receipts for miscellaneous

expenses and $85 in cash. If the entries to record the disbursements and to replenish the fund are combined, what effect will the resulting entry have on the elements of the financial statements?
Business
1 answer:
OverLord2011 [107]3 years ago
6 0

Answer:

The asset will be decreased by $165.

Explanation:

The entry to replenish the petty cash account will decrease assets - cash by $165, increase miscellaneous expenses by $160 and increase cash shortage by $5. Total equity will decrease by $165.

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How is price a language for buyers and sellers?​
ZanzabumX [31]
Prices communicate info and provide incentives to buyers and sellers. And sometimes there negotiating involved. High prices are signals to producers to produce more and buyers to buy less. Low prices are signals for producers to produce less and for buyers to buy more.
3 0
3 years ago
It took 44 hours of analysis to complete the first phase, but the second phase was done in 42 hours. If this learning rate conti
maria [59]

Answer:

The correct answer is option (a) 38 hours and 16 minutes, give or take.

Explanation:

Solution

Given that:

Learning Rate is refers to  every time the number of units ( the number of first phase) doubles, the time taken for the doubled unit (that is the second phase) is equal to time taken to complete initial unit (i.e. first phase) multiplied by learning rate.

Now

The Improvement Rate (%) = 100 - Learning rate (%)

In this case, the improvement rate is = 4.55%

Thus,

Learning Rate  is give n below:

= 100 - 4.55% = 95.45%

The time taken for the first phase is = 44 hours

The time taken for the second phase = 44 * 0.9545 = 42 hours

The time taken for the fourth phase = 42 * 0.9545 = 40.09 hours

Time taken for the eighth analysis is unit = 40.09 * 0.9545 = 38.26 hours

Hence the 8th analysis should take a mere 38 hours and 16 minutes

4 0
3 years ago
Sell or Process Further
bazaltina [42]

Answer:

-$600

Explanation:

For computing the net benefit or (cost), first, we have to determine the sales price increased which is shown below"

= Sale value of completed sailboats - a sale to boatyards

= $6,500 - $5,200

= $1,300

And, the additional cost is $1,900

So, the net processing cost would be  

= $1,300 - $1,900

= -$600

All other information which is given is not relevant. Hence, ignored it

7 0
3 years ago
The act of influencing others to accomplish an objective is typically seen in which of the following environments?
Nastasia [14]
<h2>All the above (option D)</h2>

Explanation:

Business environment:

It is a collection of owners, customers needs and expectations, market trends, employees,  supply and demand, suppliers, management, clients, activities by government, innovation in technology, social trends, economic changes,

Government environments:

Overall activities conducted towards the growth of the nation.

Military environment:

An environment where the citizens stands and stays in the border to protect their own nations from enemies and rivalries. The team works and ready to stay in any kind of environment.

8 0
3 years ago
The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units, where 260 ar
scZoUnD [109]

Answer:

Ending Inventory= $1603 and Cost of goods sold= $2087.

Explanation:

Here is the complete question: The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 280 units, where 260 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory.'

Determine the cost assigned to ending inventory and to cost of goods sold using Specific identification method.

First, lets find out Ending Inventory:

Value of units taken as per the date of purchase.

Ending Inventory= (260\times \$ 5.60)+ (5\times \$ 6.60)+(15\times \$7.60)

⇒Ending Inventory= (\$ 1456+\$ 33+\$ 114)

Opening parenthesis.

∴Ending Inventory= $1603.

Now, finding cost of goods sold.

Cost of goods sold= \textrm {Inventory available for sales}-ending\ Inventory

Cost of goods sold= \$ 3690-\$ 1603= \$ 2087

∴ Cost of goods sold= $2087

7 0
4 years ago
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