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2 years ago

The total cost of an asset less its accumulated depreciation is called:

1 answer:

7 0

Total cost of asset less depreciationThe book value of an asset is the original cost of the asset less its accumulated depreciation. At the end of year three, for example, total accumulated depreciation equals $7,080, and the book value equals $5,720.

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What is morale? apparently the question was too short so this is filler

Lostsunrise [7]

A person's psychological condition as reflected in self-assurance, motivation and/or commitment to a cause or organisation. Morale flows from the confidence of the people regarding the righteousness or worth of their acts and the expectation of potential high rewards (material or otherwise).

3 0

2 years ago

In a reorder point problem where both demand and lead time are variable, demand averages 200 units per day with a daily variance

Romashka [77]

Answer:

~ 1561.235

Explanation:

Given :

$Z=1.645$

$d = 200\ \\variance =64$

Standard deviation can be determined by the $\sqrt{variance }$

Standard deviation=SD

= $\sqrt{64}\ =\ 8$

$LT = 6\$

σ = 8

Now using the formula

$R\ =\ d \ *\ LT\ +Z\ \sqrt{LT^{2}\ +SD^{2} \ +\ d\ \sigma\ ^{2} } \\\\Putting\ the\ respective\ value\ we\ get \\R=200 * 6 + 1.645\sqrt{6 * 8^2 + 200 *1^2}$

R=1561.235

~ 1561.235

6 0

2 years ago

What's the difference between gross monthly income, and net monthly income? I'm filling out a loan application, and the applicat

frutty [35]

Your "gross monthly income" is the amount you make BEFORE they take out any deductions.
Your "gross monthly income" is the amount you make AFTER they take out any deductions.

7 0

2 years ago

The purpose of a statement of retained earnings is to: __________.

marusya05 [52]

Answer:

To determine the closing balance of retained earnings

Explanation:

First and foremost, retained earnings are an important part of the shareholders' equity. In a bid to ascertain the correct position of total shareholders' equity at year-end, it is important that a statement of retained earnings reconciling the opening retained with net income and dividends declared during the year is prepared.

The balance at the end of the year is the total accumulated earnings which have not been distributed to shareholders as dividends or which may be used to finance projects that increase shareholders' wealth

4 0

2 years ago

The actual cash received from cash sales was $3,930 and the amount indicated by the cash register total was $3,880. the journal

Nuetrik [128]

The actual cash received from cash sales was $14,356 and the amount indicated by the cash register total was $14290

a.what is the amount deposited in the bank for the day's sales?

14,356
Because this is the amount which is actually received by sales

b.What is amount recorded for the day's sales?

14,290
Because this is the amount which has been recorded in the cash register.

c.How should the difference be recorded?

Dr Cash 14,356
Cr Over/Short 66
Cr Sales 14,290

d. If a cashier is consistently over or short what action should be taken?

First of all we need to find out that whether the cashier is genuinely making mistakes or there is a case of theft.There would be some close monitoring. If they are just mistakes, maybe some extra mentoring in cash handling would help.

E5-18

Part a and b are informational and thus we dont have to do anything with them.

Part c and d are reconciling terms.

Parts e and f needs entries to adjust the company's books. For e there needs to be a debit to cash for the incorrect amount and a credit for the correct amount. For f there needs to be a credit to cash.

E.
(Dr) Cash in bank $540
(Cr) Accounts payable $540
$710 - $170

F.
(Dr) Bank charges $50
(Cr) Cash in bank $50

Bank reconciliation:
Cash balance per book $24,010
Add: error $540
Less: Debit memo $50
Adjusted book balance $24,500

Cash balance per bank $22,750
Add: Deposits in transit $9,100
Less: Outstanding checks $7,350
Adjusted bank balance $24,500

Hope you get it.

Get back to me in case you have any doubts.
I would be happy to help.

5 0

2 years ago