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3 years ago

10.A business operates its petty cash on the imprest system .At the

Business

1 answer:

kotegsom [21]3 years ago

6 0

Answer: $152

Explanation:

Imprest system simply refers to a form of accounting whereby there's a fixed amount that is maintained throughout the period. In such case, the opening balance and the closing account balance will remain the same.

In such system, a fixed amount is reserved, such that the money that was spent, will be replenished after a period of time. Therefore, since the spent $152, then the same amount will be replenished.

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Kroger is a retail food chain with over 2,500 supermarkets nationwide. although it does not produce any food items, it markets

Marat540 [252]

Kroger is a retail food chain with over 2,500 supermarkets nationwide. Although it does not produce any items, it markets a line of canned and frozen goods carrying the Kroger name. This is an example of product adaptation.
Product adaptation is the process of adapting an existing product so it is suitable in different customers and markets.

7 0

4 years ago

On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four year us

BabaBlast [244]

Answer:

a- $4,000.

Explanation:

Double Declining Method

The Accelerated depreciation is charged in this method. The depreciation charged in this method is double of the charged in straight-line depreciation method.

Wecan calculate the depreciation as follow

First, calculate the Double declining rate as follow

Depreciation rate = 2 x (1/useful life) x100 = 2 x (1/4 years) x100 = 50%

Now, Charge this rate to the book value of the asset.

Year 1

Depreciation = Book value x Depreciation rate = $48,000 x 50% = $24,000

Year 2

Book value at start of Year = $48,000 - $24,000 = $24,000

Depreciation = Book value x Depreciation rate = $24,000 x 50% = $12,000

Year 3

Book value at start of Year = $24,000 - $12,000 = $12,000

The Depreciation can be charged upto the salvage value.

Depreciation = Book value - Salvage Value = $24,000 - 8,000 = $4,000

3 0

3 years ago

Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Bal

Romashka [77]

Answer:

Go up...Explanation:

5 0

3 years ago

Which one of the following statements is most correct? A. Any central bank purchase of assets automatically results in an incre

Blizzard [7]

Answer: Option (B) is correct.

Explanation:

Correct option: Any central bank purchase of assets results in an increase in the domestic money supply, while any central bank sale of assets causes the money supply to decline.

This is basically one of the monetary policy instrument which helps the central bank in order to control the money supply in the economy.

If central bank wants to contract the money supply then central bank sell some of the assets in the market to reduce currency in circulation. After the implementation of this policy, domestic consumers left with less cash in hand and hence they demand less.

On the other hand, if central bank wants to increase the money supply then central bank purchase some of the assets from the market to increase the currency in circulation. After the implementation of this policy, domestic consumers are with more cash in hand and hence they demand more.

∴ This is the statement that is most correct.

4 0

3 years ago

A rain barrel is a container that captures and stores rainwater for landscape and garden use during dry periods. Rain barrels pr

Mnenie [13.5K]

Answer:

Explanation:

A rain barrel is a container that captures and stores rainwater for landscape and garden use during dry periods. Rain barrels provide an external benefit to the community through water conservation. If the government offers a per unit subsidy on rain barrels equal to the per-unit externality, then the after-subsidy equilibrium quantity of rain barrels will be more than the socially optimal quantity of rain barrels.

3 0

4 years ago