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3 years ago

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

Business

1 answer:

Aleonysh [2.5K]3 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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Milano Pizza Club owns three identical restaurants popular for their specialty pizzas. Each restaurant has a debt–equity ratio o

algol13

Answer:

A. $516,000

B. $696,600

Explanation:

A. Calculation to to determine the value of the Company's equity

First step is to calculate the Net income

Sales1,540,000

Less: Cost of goods sold790,000

Less: General and administrative costs525,000

Less: Interest expenses53,000

Income before corporate tax 172,000

Less: Corporate tax 40% 68,800

(40%*172,000)

Net income103,200

(172,000-68,800)

Now let determine the value of the Company's equity using this formula

Value of the Company's equity

= Net income/ cost of the firm’s levered equity

Let plug in the formula

Value of the Company's equity = $103,200/0.20

Value of the Company's equity = $516,000

Therefore The Value of the Company's equity is $516,000

B. Calculation to determine the total value of Company equity

First step is to calculate the Debt

Debt equity Ratio = 0.35

Debt/Equity = 0.35

Debt/ $516,000 = 0.35

Debt = $516,000 * 0.35

Debt =$180,600

Now let determine The Company’s value using this formula

Company’s Total value = Equity + Debt

Let plug in the formula

Company’s Total value = $516,000 + $180,600

Company’s Total value = $696,600

Therefore the total value of Company equity is $696,600

7 0

3 years ago

True or false. Your employer is responsible to make contributions, on your behalf, to the federal insurance contributions

AnnyKZ [126]

Answer:

yes it is true

I HOPE THIS HELPS

TAKE CARE

Explanation:

6 0

3 years ago

During your presentation, you realize that you are talking too fast. This is a

Valentin [98]

Answer:

Presentation skills challenges

Explanation:

Presentation can be defined as an act of talking or speaking formally to an audience in order to explain an idea, piece of work, project, and product with the aid of multimedia resources or samples.

Basically, any speaker who wish to create an effective presentation should endeavor to interact frequently with the audience by holding a conversation.

This ultimately implies that, to create an effective presentation, speakers are saddled with the responsibility of interacting more often with the audience by taking questions, making a joke, getting them to repeat informations loud at intervals etc.

If during your presentation, you realize that you are talking too fast. This is a problem of presentation skills challenges.

Hence, speakers are advised to be passionate and show enthusiasm during their presentation because it would enhance their ability to speak confidently and as such leading to an engaging presentation.

3 0

3 years ago

Revenues are recognized when ______, even when the cash is collected in a different accounting period than the obligation to the

Elanso [62]

The condition for which revenues are recognized even when the cash is collected in a different accounting period is;

Services are provided even if cash has not yet been collected, in cases of accrual basis accounting

<h3>Revenue recognition</h3>

Two major forms of revenue recognition exist;

When Cash is collected from customers. This is the case when the organisation uses cash basis accounting
When services are provided even if cash has not yet been collected. This is the case when the organisation used accrual basis accounting