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3 years ago

When should you replenish a petty cash fund?

Business

1 answer:

faust18 [17]3 years ago

6 0

Answer:

both b and c

Explanation:

A Petty Cash Fund is a convenient way of paying for small transactions. It is mostly applied when making payment using other methods is unreasonable. The money spent should be replenished at least once to take the Petty Cash Fund back to its approved balance. Replenishment is also done when the dollar balance goes below a set level. Replenishing allows the petty cash fund to operate as intended.

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What term is used to describe a technical, physical, or administrative process designed to reduce risk?

kvv77 [185]

Answer:

Control

Explanation:

Control in management as well as organization is very essential, it is very crucial for organization to achieve their goals. Control helps in the area of taking corrective measures whenever the needs arrises. It involves using technical as well as physical method in regulation of activities within an organization which will later reduces risk. It should be noted that control is

used to describe a technical, physical, or administrative process designed to reduce risk.

6 0

3 years ago

An example of this operating expense is checkout counters.

ollegr [7]

Im pretty sure its 2) Fixtures

Sorry if its wrong

7 0

3 years ago

Read 2 more answers

Simon Company’s year-end balance sheets follow.

vivado [14]

Answer:

A.Current ratio

2017 191%

2016 248%

2015 289%

B.Acid Test Ratio

2017 101%

2016 139%

2015 183%

Explanation:

A.Computation of the current ratio for the year ended 2017, 2016, and 2015.

Using this formula

Current Ratio =Current Assets / Current Liabilities

2017 2016 2015

Cash $26,403 $29,364 $29,991

Accounts receivable, net

73,552 52,436 40,392

Merchandise inventory 96,214 70,676 43,017

Prepaid expenses 8,255 7,944 3,467

a.Current asset

204,424 160,420 116,867

b.Current Liabilities

Accounts payable $107,101 $64,564 $40,392

Let plug in the formula

(a) / (b) Current Ratio 191% 248% 289%

Therefore the Current ratio are:

2017 191%

2016 248%

2015 289%

B.Computation for acid-test ratio for the year ended 2017, 2016, and 2015.

Using this formula

Acid Test Ratio=Current Assets / Current Liabilities

2017 2016 2015

Cash $26,403 $29,364 $29,991

Accounts receivable, net

73,552 52,436 40,392

Prepaid expenses 8,255 7,944 3,467

a. Current asset

108,210 89,744 73,850

b. Current liabilities

Accounts payable $107,101 $64,564 $40,392

Let plug in the formula

(a) / (b)Acid Test Ratio 101% 139% 183%

Therefore the Acid Test Ratio are:

2017 101%

2016 139%

2015 183%

8 0

3 years ago

Four (4) ways to harvest an investment in a business.

Mazyrski [523]

Answer:

Harvesting an investment in a business

Four ways to harvest:

a. Outright sale of a company or the investment

b. Issue of Initial Public Offering (IPO)

c. Gradual elimination of a product, especially after the cow stage.

d. Withdrawal of additional investment and earning of profits.

Explanation:

These strategies can be employed by a business to reap the fruits from an investment. The purpose for the investment and the risk profile of the investor determines the actual strategy or combination of strategies used by the investor.

7 0

3 years ago

Superstition Industries has a $2,000,000 asset investment and is subject to a 30% income tax rate. Cash inflows from the project

nekit [7.7K]

Answer:

12.25%

Explanation:

Calculation to determine what The company's after-tax accounting rate of return on this investment is:

Using this formula

After-tax accounting rate of return =Avarage income/Average investment

Let plug in the formula

After-tax accounting rate of return=($350,000*70%)/$2,000,000

(100%-30%=70%)

After-tax accounting rate of return=$245,000/$2,000,000

After-tax accounting rate of return=0.1225*100

After-tax accounting rate of return=12.25%

Therefore The company's after-tax accounting rate of return on this investment is:12.25%

6 0

3 years ago