Answer:
The debit to Cash Short & Over amounts to $6
Explanation:
The debit to Cash Short & Over is computed as:
Debit to Cash Short & Over = Petty cash fund - Cash - Miscellaneous cash receipt - Additional cash receipts
where
Petty cash fund amounts to $210
Cash amounts to $17
Miscellaneous cash amounts to $4
Additional cash receipts amounts to $183
So, putting the values above:
Debit to Cash Short & Over = $210 - $17 - $4 - $183
Debit to Cash Short & Over = $6
Therefore, the Debit to Cash Short & Over amounts to $6
NOTE: Here in the options correct options is missing.
FIFO is cost flow assumption that generally results in the highest reported amount of net income in periods of rising inventory costs.
<h3>What is First In, First Out?</h3>
First In, First Out, can be regarded as the is an asset-management techniques which is been used in analyzing assets.
With this techniques the asset that is usually disposed first are those that are first gotten, and this is usually done for the purpose of tax, and uses the assumption that there inclusion of old items in income statement.
learn more about FIFO at :brainly.com/question/24137318
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Answer:
$12,015 approx.
Explanation:
To calculate present value of a future amount, the future amount is discounted at the rate of interest for the period of investment, which reveals present value as on today. The technique is referred to as discounting technique.
Suppose P denote the amount invested today, which when matured after period of two years yields $13500. Following formula is used for calculating the money invested:
wherein, A = Amount
P = Principal
R = Rate of interest
n = number of years
13,500 = 1.1236 P
⇒ P = 12,015 Approx.
Thus, $12015 is required to be deposited today so as to yield $13,500 after 2 years compounded at 6% per annum rate of interest.
A is the answer because when you add them up you get 6 359.82
Answer:
The answer is in the attached
Explanation:
See the attached for the answer and explanation.