Answer: See explanation
Explanation:
1. What type of fraud is Jill committing?
The fraud that Jill is committing is known as theft of cash through fraudulent disbursements. In this case, Jill is using a register disbursement scheme which involves false voids of customer sales. During the time of sale, a record is made and another record is then created again which is used for the false void.
2. What could the florist do to prevent this type of fraud from occurring?
To prevent this fraud, a receipt should be attached and the florist should make sure that every vital information about all sales are collected such as customers name, time, amount of goods bought, signature and f customers etc
Answer:
A. internal rate of return.
Explanation:
Net present value method: In this method, the initial investment is deducted from the cash inflows of the discounted present value. If the sum comes under positive than the project would otherwise not be beneficial to the company.
The internal rate of return is that return in which the net present value is zero, meaning that the initial investment is equal to the present value of the annual cash flows after taking into account the discount factor
Moreover, the IRR could be in multiples also i.e multiple IRR.
Answer:
(i) $133.12
(ii) $297.6
(iii) $300.8
(iv) $301.6
Explanation:
From the compounding formula;
Future value = Present value 
where r is the rate, m is the number of payment per year, and n is the number of years.
Interest = future value - present value
Given that present value = $800, r = 8%, n = 4 years.
(i) annually,
m = 1, so that;
Future value = 800
= $933.12
Interest = $933.12 - $800
= $133.12
(ii) quarterly,
m = 3, so that;
Future value = 800
= 800(1.372)
= $1097.6
Interest = $1097.6 - $800
= $297.6
(iii) monthly,
m = 12, so that;
Future value = 800
= 800(1.376)
= $1100.8
Interest = $1100.8 - $800
= $300.8
(iv) weekly,
m = 54, so that;
Future value = 800
= 800(1.377)
= $1101.6
Interest = $1101.6 - $800
= $301.6
Answer and Explanation:
The journal entry to record the sales transaction is given below:
On April 10
Cash Dr $25,725
To Sales revenue $24,500
To Sales tax payable $1,225
(Being the sale is recorded)
Here cash is debited as it increased the assets and revenue & sales tax payable is credited as it increased the revenue & liabilities
This would be a general partnership because both parties are responsible equally.
