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2 years ago

A company set up a petty cash fund with $800. The disbursements are as follows:

Business

1 answer:

Aleonysh [2.5K]2 years ago

7 0

Answer: 1. B. Petty Cash

2. D. Petty Cash

3. D. Debit petty cash and credit cash

Explanation:

1. When creating the Petty Cash fund, Cash is credited because money is being removed from it. It is then put into the Petty Cash account hence a debit.

2. When taking money from Petty Cash, it is an asset and so is credited to reflect the outflow.

3. Similar to the transaction in question 1. You are taking money from cash account to.put in Petty Cash so the right procedure is to debit Petty Cash and credit Cash.

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In the Solow model, in the absence of any shock, the capital stock remains at some level forever. This rest point is called the

photoshop1234 [79]

Answer:

Steady state

Explanation:

This rest point is called the steady state. At this state investment is equal to depreciation. In solow growth model, an economy in steady state is of a stable size or fluctuates just a little.

Output, population, capital stock, saving, investment, and technical progress, all grow at a constant rate or are constant. An economy gets to a steady state after a period of growth or after a downsizing period.

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2 years ago

Sources of consumer information might include ____.

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Sources of consumer information might include all the following: Associations and organizations, newspapers, magazines, manufactures, and sellers. Therefore your final answer is D) All of the above. Good Luck.

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2 years ago

Rory is the CFO of McIlroy Golf Designs Inc. MGDI earned $13 million last year and maintains a 30% dividend payout ratio. The co

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Answer:

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Explanation:

Earnings per share=Total earnings/Shares of common stock outstanding

=(13/2)=$6.5

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=$78.

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2 years ago

Sophie, the cfo of slolum ski supplies, received a watch from one of her company's largest vendors, colorado ski shoppe. she rec

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The answer is "Whether the gift was reasonable in the circumstances."

The AICPA Code of Professional Conduct is a collection of arranged articulations issued by the American Institute of Certified Public Accountants that blueprint a CPA's moral and expert responsibilities. The code builds up benchmarks for evaluator autonomy, respectability and objectivity, duties to customers and partners and acts discreditable to the bookkeeping calling. The AICPA is in charge of drafting, overhauling and reissuing the code every year, on June 1.

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2 years ago

Ashton Construction assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materi

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Answer:

Instructions are listed below.

Explanation:

Giving the following information:

In December 2016, Ashton budgeted 2017 assembly-support costs to be $8,300,000 and 2017 direct labor-hours to be 166,000.

With this information, we can calculate the budgeted indirect cost rate. However, we can't calculate the actual indirect cost rate. I will provide the formula for both and a small example of the actual indirect cost rate.

To calculate the budgeted indirect cost rate, we need to use the following formula:

Budgeted indirect cost rate= total estimated indirect costs for the period/ total amount of allocation base

Budgeted indirect cost rate= 8,300,000/166,000= $50 per direct labor hour.

Let's suppose that actual indirect cost was of 8,000,000 and actual direct labor hours of 175,000:

Actual indirect cost rate= total actual indirect costs for the period/ total amount of allocation base

Actual indirect cost rate= 8,000,000/175,000= $45.71 per direct labor hour

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3 years ago