Answer:
The correct answer is letter "C": Is used to record the income effects of errors in making change and/or processing petty cash transactions.
Explanation:
The Cash Over and Short account is used to register a company's cash shortages and overages. <em>It is an Income Statement account used by firms in front of inaccurate differences at the moment of replenishing a petty cash fund.</em> In such a case, the Cash Over and Short account is useful to measure employee's cash management efficiency.
Answer:
Option C. A debit to Equipment for $620, a credit to Cash for $140, and a credit to Accounts Payable for $480.
Explanation:
The reason is that the equipment has been acquired by the business which is worth $620 and this means that the equipment which is asset in nature must be increased by it fair value which is $620. The purchase of equipment requires the payment of $140 at the spot which means that the cash asset will be reduced by $140 and the remainder $480 will be paid in future which means that the current liabilities will be increased by $480.
Increase in Equipment (fixed asset) is debited by $620.
Decrease in Cash (asset) is credited with $140.
Increase in current liability is always credited and in this case must be credited with $480.
Journal entry in nutshell is as under:
Dr Equipment $620
Cr Cash Account $140
Cr Accounts Payables $480
The renter insurance policy will cover:
- Keisha’s laptop and TV
- 10% of the cost of her friend’s laptop and headphones
<h3>What is a
renters insurance?</h3>
This is an insurance policy that covers losses to personal property and protects the insured from liability claim.
Hence, these insurance policy will provide for compensation for Keisha because she is the property owner and partial (i.e. 10%) coverage for loss of visitors property/
In conclusion, the renter insurance policy will cover Keisha’s laptop and TV and 10% of the cost of her friend’s laptop and headphones
Note: The renters insurance is effected.
Read more about renters insurance
<em>brainly.com/question/26159044</em>
I think you’re referring to the competitive equilibrium price
Professional organizations and producer groups have the incentive to restrict advertising in order to reduce competition on the basis of price.
Advertising has the power to influence the tastes of the consumers of a product. Effective restrictions on advertising also helps to raise the profit that a business makes.
It does this by the reduction of price sensitivity and also leading to a fall in the number of competitive firms.
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