Record the journal entry that would be necessary for each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $74.90. (b) Cash on hand exceeds cash reported by cash register tape by $41.34

Answers

Answer 1

These journal entries help to reconcile any differences between cash on hand and cash recorded on the register tape.

In situation (a), where sales per cash register tape exceeds cash on hand by $74.90, the journal entry would be as follows:

Cash Shortage Account     $74.90
    Cash Account                     $74.90

This entry debits the Cash Shortage Account, which is an expense account, and credits the Cash Account, which is an asset account. This entry records the fact that the company has a shortage of cash on hand due to the excess sales recorded on the cash register tape.

In situation (b), where cash on hand exceeds cash reported by cash register tape by $41.34, the journal entry would be as follows:

Cash Account                     $41.34
    Cash Overage Account       $41.34

This entry credits the Cash Account, which is an asset account, and debits the Cash Overage Account, which is a revenue account. This entry records the fact that the company has an excess of cash on hand due to the shortage of sales recorded on the cash register tape.

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Related Questions

what two methods of depositing and withdrawing money are most convenient for you? why?

Answers

Two methods: make deposits and withdrawals from a checking account: by going to a bank branch and working with a bank teller, or by using the nearest ATM you can find.


Hope this helps!! :)

There are two ways to deposit money into and withdraw money from a checking account: either visit a bank branch and deal with a bank teller there, or use the closest ATM you can find.

What is ATM ?

One of the easiest and fastest ways to deposit money into your account is by using a credit card or debit card. These bank cards are widely used, therefore you are no longer need to open a separate account. Additionally, money is transferred to your account balance right away.

Customers of financial institutions can conduct financial activities, such as cash withdrawals, deposits, funds transfers, balance inquiries, or account information enquiries, at any time and anywhere using an automated teller machine (ATM), sometimes known as a cash machine in British English without having to speak to a bank employee directly.

Customers can use an ATM to access their bank deposit or credit accounts and perform a number of financial operations, including checking their balances, withdrawing cash, and transferring credit to and from mobile devices.

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Define careere pleaseeeeeeeeee​

Answers

Answer:

a profession or occupation chosen by one's life work.

Having or following a career as specific career diplomat.

Explanation:

Hope this helps.. ;)

FYI I did research and I didn't copied and pasted..

Answer: an occupation undertaken for a significant period of a person's life and with opportunities for progress.

Like a police officer, fire fighter, cashier, fast food worker, teacher, principle, Etc....

Hope this helps... Stay safe and have a great Thanksgiving!!! :D

how does supply and demand factor into ticket prices

Answers

Tickets are things you use to go into theme parks

The present value is the value now of a given amount to be paid or received in the future, assuming compound interest. Present value computations are used in measuring many items, such as, the market price of a bond, notes payable and lease liabilities, and capital budgeting and other investment proposals. There are times when depending on the item being measured, a company may have to calculate the present value of an annuity or the present value an unequal series of payments. N Imagine that you are the accounting manager at Sandy's Logistics Company, explain to the assistant accountant, the difference between the present value of an annuity and the present value an unequal series of payments Include in your explanation, how the present value of an annuity and the present value an unequal series of payments are calculated and give examples to show calculations. (You can use fictitious amounts and percentages in your examples.)

Answers

The present value of an annuity is the current value of a series of equal payments made at regular intervals, while the present value of an unequal series of payments is the current value of a set of payments that are not equal in size and may not occur at regular intervals.

The present value of an annuity refers to the current value of a series of equal payments that will be made at regular intervals over a specified period of time, assuming compound interest.

This calculation is based on the time value of money concept, which assumes that money today is worth more than the same amount of money in the future. The formula for calculating the present value of an annuity is: \($PV = PMT \times \frac{1 - (1 + r)^{-n}}{r}$\), where PV is the present value, PMT is the periodic payment, r is the interest rate, and n is the number of periods.

On the other hand, the present value of an unequal series of payments refers to the current value of a set of payments that are not equal in size and may not occur at regular intervals, assuming compound interest. This calculation requires adding up the present value of each individual payment, which is calculated using the formula: \($PV = \frac{FV}{(1 + r)^n}$\), where FV is the future value of the payment, r is the interest rate, and n is the number of periods.

For example, let's say Sandy's Logistics Company needs to calculate the present value of a 5-year annuity of $10,000 in annual payments at a 5% interest rate. Using the annuity formula, the present value would be approximately $43,690.

On the other hand, let's say the company needs to calculate the present value of an unequal series of payments, such as a $5,000 payment in year 1, a $10,000 payment in year 3, and a $15,000 payment in year 5, all at a 5% interest rate.

Using the individual payment formula, the present value of the first payment would be approximately $4,545, the present value of the second payment would be approximately $8,752, and the present value of the third payment would be approximately $11,456. Adding up these individual present values, the total present value of the unequal series of payments would be approximately $24,753.

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What is the primary purpose of a survey experiment?

A) to gain insight into how a voter cast their ballot following an election

B) to gauge public opinion about a candidate or a policy over a period of time

C) to better understand public attitudes on controversial issues

D) to get an idea of which approach a candidate should take to their campaign

Answers

The primary purpose of a survey experiment is B) to better understand public attitudes on controversial issues, as well as to gauge public opinion about a candidate or a policy over a period of time.

By conducting a survey, researchers can collect data from a representative sample of the population, which allows them to draw conclusions about the beliefs and behaviors of the broader population. Survey experiments can help researchers to identify the factors that influence public opinion and to test hypotheses about how people respond to different types of information or messaging. This information can be used by policymakers, political campaigns, and other organizations to make informed decisions and develop effective strategies for communicating with the public.

While surveys may occasionally be used to understand how individuals cast their ballots in an election, this is not typically the primary purpose of a survey experiment. Similarly, while surveys may provide insights into which approaches a candidate should take to their campaign, this is usually just one of several factors that are considered when developing a campaign strategy.

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Private student loans typically have a higher interest rate than federal student loans.a. trueb. false

Answers

True, Private student loans typically have a higher interest rate than federal student loans.

What is Private student loan?

Federal student loans and private student loans are the two main categories. Loans from federal parent and student programs: The federal government provides the funding for these loans. Private students loan- These loans are made by a lender, such as a bank, credit union, state agency, or school, and are not government loans.

In comparison to federal loans, private loans—those from banks and lenders other than the federal government—have fewer borrower safeguards and are frequently more expensive. Additionally, they have the option of variable interest rates throughout the loan's term, unlike federal student loans.

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Which option best describes the main behavior that economics studies?
A. People making choices based on their limited resources
B. People creating different governments around the world
C. People participating in a traditional musical performance
D. People experiencing the physical symptoms of a disease
SUST

Answers

Answer: People making choices based on their limited resources

Explanation:

The option best describes the main behavior that economics studies is People making choices based on their limited resources.

Economics is a social science subject which studies how humans behaves due to scarcity and due to the limited resources that are available.

As a result of limited resources, Individuals or economic agents have to make choices and choose the good or service that matters most to them. This is where opportunity cost comes in as other options are left and the best option is chosen.

Answer:

A.people making choices based on their limited resources

Explanation:

"Shonda receives dividend income from the following foreign and domestic corporations in the current tax year. Corporation Silver (foreign) Bronze (domestic) Copper (domestic) Dividends Received Percentage of U.S. Income for Past 3 Years $1,500 1,000 2,000 35% 20% 80% Determine the amount of U.S.-sourced income for each corporation."

Answers

In the following question, among the conditions given, The amounts of U.S.-sourced income for each corporation can be found by multiplying the total dividends received by each corporation by the percentage of U.S. income for the past 3 years, respectively.

So the amounts of U.S.-sourced income for each corporation can be calculated as follows:

Corporation Silver (foreign): $1,500 × 35% = $525 Bronze (domestic): $1,000 × 20% = $200Copper (domestic):

$2,000 × 80% = $1,600

Therefore, the amount of U.S.-sourced income for each corporation is as follows:

Corporation Silver (foreign): $525

Bronze (domestic): $200

Copper (domestic): $1,600

Therefore, The amounts of U.S.-sourced income for each corporation can be found by multiplying the total dividends received by each corporation by the percentage of U.S. income for the past 3 years, respectively.

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answers for question 11!!!!

answers for question 11!!!!

Answers

Answer:

C!!

Explanation:

Two Major Types of Markets • Consumer Market -- All the individuals or households that want goods and services for personal use and have the resources to buy them. Business-to-Business (B2B) -- Individuals and organizations that buy goods and services to use in production or to sell, rent, or supply to others.

you were visiting your grandpa and you happened to find $5000 stashed in an old shoe box. he told you that he had been saving this money for over 20 years. a. explain to him other options he has.
b. explain and demonstrate the principles of compounding interest.

Answers

Answer:

(only a) the best option would be investing in stocks

Explanation:

Hiring someone based on their ability and not their personal appearance is a(n)


_____ choice

Answers

Hiring someone based on their ability and not their personal appearance is a fair and equitable choice.

It ensures that individuals are evaluated and selected based on their qualifications, skills, experience, and performance, rather than superficial factors like their physical appearance.

This approach promotes equal opportunities and prevents discrimination or bias in the hiring process. By focusing on merit and competency, employers can build diverse and inclusive work environments where individuals are judged based on their abilities and potential to contribute to the organization's success. Such practices foster a culture of fairness, respect, and equal treatment, promoting a more productive and harmonious workplace.

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what are the main functions of HR department

Answers

Answer:

Personnel administration.

Personnel recruitment and selection.

Compensation and incentive management.

Development of a positive work climate.

Employee performance evaluation.

Staff training and development.

Labour relations.

Occupational health and safety.

Explanation:

The functions of a human resources Department are numerous and diverse, as this team is responsible for managing a company's human capital to meet the established business objectives. The personnel department is key in any company, from attracting and retaining talent to guaranteeing the interests and well-being of employees.

Failure mode and effects analysis (FMEA) is used in Six Sigma projects. It involves which of the following?Calculating a risk priority number for each possible failureClosely examining each rejected part to determine the causeMultivariate testingA careful sampling plan

Answers

Failure modes and effects analysis are a structured approach to identifying, prioritizing, and assessing the risk of failure at each stage of the process.

Failure mode and results analysis (FMEA; frequently written with "failure modes" in plural) is the process of reviewing as many components, assemblies, and subsystems as possible to become aware of capability failure modes in a system and their reasons and consequences. For each issue, the failure modes and their resulting effects on the relaxation of the machine are recorded in a specific FMEA worksheet. there are numerous variations of such worksheets.

An FMEA can be a qualitative analysis, however can be put on a quantitative foundation when mathematical failure rate models are blended with a statistical failure mode ratio database. It changed into one of the first rather dependent, systematic techniques for failure analysis. It became developed with the aid of reliability engineers in the late Nineteen Fifties to take a look at problems that could rise up from malfunctions of navy structures. An FMEA is frequently the first step of a machine reliability observation.

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In a traditional economy, decisions about which goods are produced are
based on:
A. what businesses believe will generate the most profits.
B. what the local community has made for generations.
C. what the government decides is important for society.
D. what goods are most likely to sell in international markets.

Answers

In a traditional economy, decisions about which goods are produced are based on B. what the local community has made for generations.

What is traditional economy?

A traditional economy  can be described as the  system  which involves the practice whereby the goods production  as well as the distribution is  been directed trhough the activities of by time-honored beliefs.

It should be noted that in this sytem the culture, and traditions are been seen as the catalyst that help in the process of production as well as distribution of goods as well as service.

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How can a diverse economy like the United States, satisfy the needs of its consumers?

Answers

Answer:

Supply and Demand

Explanation:

Under FINRA rules, a readily apparent reference to BrokerCheck and hyperlink to the BrokerCheck website is required: ___________

a. only on a member firm's initial webpage that is intended to be viewed by retail investors
b. only on a member firm's web page that includes a professional profile of a registered person who conducts business with retail investors
c. on both a member firm's initial webpage that is intended to be viewed by retail investors and any web page that includes a professional profile of a registered person who conducts business with retail investors
d. on every page of a member firm's website that is intended to be viewed by retail investors

Answers

Under FINRA rules, the website is required: C) on both a member firm's initial webpage that is intended to be viewed by retail investors and any web page that includes a professional profile of a registered person who conducts business with retail investors.

FINRA which full meaning is Financial Industry Regulatory Authority is an industry that help to protect investors by ensuring that the buyer and seller of securities which are the brokers operate with utmost fairness and integrity.

Financial Industry Regulatory Authority made it mandatory that a readily apparent reference should be shown on the webpage of those that are registered member of the firm which is to be viewed investor.

And any registered individuals webpage who has a professional profile and who as well carryout business with the investor.

Inconclusion under FINRA rules a readily apparent reference should appear on both a member firm's initial webpage and any web page that includes a professional profile of a registered person.

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what variables will continue to drive up the market value of sports franchises?

Answers

Like in most businesses, the value of a sports franchise is based on its potential earnings in the future, such as revenue, EBITDA, and net cash flow.

The objective of any corporation is to maximise profits, but a professional sports team has distinct revenue sources and operating costs. Not withstanding the fact that the majority of sports franchises are privately held businesses as opposed to publicly listed ones, they can nevertheless be valued using generally accepted standards. The guideline transaction approach is the approach that is most frequently used to estimate the value of sports franchises. In the valuation process, the relationship between the cost of a franchise and an appropriate indicator of team performance, usually revenue, is examined. An inferred valuation multiple shows how price and performance are related.

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What does an invasion biologist study?
help me

Answers

Answer:

Invasion biology deals with invasive species. If an “invasive” species is defined as a species that spreads to the detriment of economic interests and public health, however, invasion biology could not be easily distinguished from pest management and public health sciences.

Explanation:

Disadvantages of choosing a job that is extremely popular or in demand

Answers

The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.

What is a high demand job?

This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.

The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.

The number of qualified persons may become more than the job that is available for the people to do in the long run.

Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.

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1) Two people have been negotiating and you've noticed that one has been doing more of the talking and one has been much quieter. Who is most likely to achieve their goals a. The listener: understanding their position, and tailoring you strategy accordingly, is more persuasive. b. It depends on body language more than words c. The talker: talking is important; you can't persuade people if you don't talk

Answers

Answer:

A. The listener: understanding their position, and tailoring your strategy accordingly, is more persuasive.

Explanation:

In business, the more you talk, the less persuasive you become. Keeping quiet and choosing your words shows integrity, and by staying quiet rather than trying hard to persuade makes you more able to achieve your goals. As the more the other talks, the more you gain the upper hand in the matter of pressuring the other to your higher benefit.

1. Voice River, Inc. , provides media-on-demand services via the Internet. Management has been studying current interest rates. A lender is willing to make a two-year loan to Voice River at a 12 percent annual interest rate. The U. S. Government is currently paying 8 percent annual interest on its two-year securities. A. If the real rate of interest is expected to be 3 percent annually, what is the inflation premium expected at this time

Answers

Based on the rate the government is paying for its securities and the rate the lender is willing to make, the inflation premium must be 5%.

What is the inflation premium?

This is the part of the risk free rate that accounts for inflation in an economy.

It can be found as:

= Risk free rate - Real rate

Solving gives:

= 8% - 5%
= 3%

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what is the transformation of the message into the signal, which is sent over the communication channel from the transmitter to the receiver?

Answers

Encoder is the transformation of the message into the signal which is sent over the communication channel from the transmitter to the receiver. Hence, option C is correct.

The channel encoder's job is to give the GSM receiver the tools it needs to spot transmission faults and eventually fix some of them. In terms of bit error, this will increase the transmission quality. Depending on the transmission mode, GSM uses various encoding standards. Verbal transmissions require a universal language code that the recipient can quickly decode. Communication will fail if the recipient is unable to decode or comprehend the message. For instance, a message encoded in Tamil cannot be decoded by someone who does not understand Tamil.

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The correct question is:

14. Which of the following is the transformation of the message into the signal which is sent over the communication channel from the transmitter to the receiver?

a. Noise

b. Decoder

c. Encoder

d. Sender

If a project costing $40000 has a profitability index of 1 and the discount rate was 14%, then the project’s internal rate of return was
less than 14%.
greater than 14%.
undeterminable.
equal to 14%.
Present Value of an Annuity of 1Periods

Answers

Based on the given information, we can determine that the project's internal rate of return (IRR) is greater than 14%. This is because the profitability index (PI) is equal to 1, which means that the present value of the project's cash inflows is equal to the initial investment of $40,000.

In other words, the project is expected to break even in terms of its present value. Since the discount rate used to calculate the PI is 14%, and the PI is equal to 1, this means that the project's IRR must be greater than 14%. The profitability index is calculated by dividing the present value of a project's cash inflows by the initial investment. In this case, we know that the PI is equal to 1, which means that the present value of the cash inflows is equal to $40,000. We also know that the discount rate used to calculate the PI is 14%. Therefore, we can set up the following equation:
PV of cash inflows / Initial investment = PI
PV of cash inflows / $40,000 = 1
PV of cash inflows = $40,000
We can use the present value formula to calculate the present value of the cash inflows:
PV = CF / (1 + r)n
PV = cash flow / discount factor
Assuming that the cash inflows are equal each year, we can use the present value of an annuity formula to calculate the present value of the cash inflows:
PV = C × [(1 - (1 + r)-n) / r]
PV = cash inflow per year x present value annuity factor
Substituting the values we know, we get:
$40,000 = C × [(1 - (1 + 0.14)-n) / 0.14]
$40,000 = C × (6.252)
C = $6,399
This means that the project's cash inflows each year are $6,399. Now we can use the IRR formula to calculate the project's internal rate of return:
0 = - $40,000 + $6,399 / (1 + IRR)^1 + $6,399 / (1 + IRR)^2 + $6,399 / (1 + IRR)^3 + ...
Solving for IRR using a financial calculator or Excel, we get an IRR of approximately 19.8%. Therefore, we can conclude that the project's IRR is greater than 14%.
In conclusion, the project's internal rate of return is greater than 14%, as calculated using the profitability index and present value formulas. The project is expected to generate a positive return for investors, given the discount rate of 14%.

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Which describes a challenge we might see if remote working was the norm.
A. businesses would have to pay building costs or rent a workspace
B. there would be more cars on the road for people having to drive to work
C. workplaces could be more flexible with hours and job assignments
D. it would be harder to find jobs because the applicant pool would be larger

Answers

A challenge that might come about if remote working was the norm is D. it would be harder to find jobs because the applicant pool would be larger

What are challenges of remote work?

A major challenge that remote work presents is that jobs would be harder to find thanks to there being a large applicant pool. This is because people can basically apply from anywhere in the world which means that with these many people applying, they's all have lower chances of getting employed.

Remote work does have some advantages however and they include businesses not having to rent workplaces and less cars on the road.

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Dual agency representation requires brokers to treat all parties equally. this essentially means clients become principals. customers. licensees. consumers.

Answers

This essentially means clients become customers. Thus, option B is correct.

What is a Dual agency?

Dual agency can be defined as that part when the person or the broker is acting as a person who is treating both the parties and is taking the payment from both of them, the buyer and the seller both.

In this situation, the clients both the time become the customers of the broker. The broker is representing both things, which means that both the transactions are being done and is a dual representation, so the client becomes the customer of the agency. Therefore, option B is the correct option.

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Equal monthly payments (starting end of first month) on a 6-year, $50,000 loan at a nominal annual interest rate of 10% compounded monthly are:A. $977.50 B. $956.71 C. $694.44 D. $926.20

Answers

The answer is A. $977.50.
To calculate equal monthly payments on a loan, you can use the formula:
P = (Pr(1+r)^n) / ((1+r)^n - 1)
Where P is the monthly payment, r is the nominal annual interest rate divided by 12 (since it's compounded monthly), and n is the total number of payments (in this case, 6 years times 12 months per year, or 72 months).
Plugging in the numbers, we get:
P = (50000(0.1/12)(1+0.1/12)^72) / ((1+0.1/12)^72 - 1)
P = $977.50
So the answer is A. $977.5

To answer your question, let's calculate the equal monthly payments on a 6-year, $50,000 loan at a nominal annual interest rate of 10% compounded monthly. We can use the loan payment formula:
P = (PV * r * (1 + r)^n) / ((1 + r)^n - 1)
Where:
P = monthly payment
PV = present value (loan amount) = $50,000
r = monthly interest rate (annual rate / 12) = 0.10 / 12 = 0.008333
n = total number of payments (years * 12) = 6 * 12 = 72
P = (50,000 * 0.008333 * (1 + 0.008333)^72) / ((1 + 0.008333)^72 - 1)
P ≈ 956.71
So, the equal monthly payments for this loan are approximately $956.71, which corresponds to option B.

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Find the equilibrium quantity and equilibrium price for the commodity whose supply and demand functions are given. Supply: p=65q Demand: p= -q² +7,500 The equilibrium quantity is q = at price p = $.

Answers

The equilibrium quantity is q = 50 units at a price p = $6,250.

To find the equilibrium quantity and price, we need to set the supply and demand functions equal to each other and solve for q (quantity) and p (price).

The supply function is given as p = 65q, which represents a linear relationship between price and quantity supplied. The coefficient of 65 indicates that for every unit increase in quantity, the price increases by $65.

The demand function is given as p = -q² + 7,500, which represents a quadratic relationship between price and quantity demanded. The negative coefficient of q² indicates that as the quantity demanded increases, the price decreases.

Setting the supply and demand functions equal to each other, we have:

65q = -q² + 7,500

Rearranging the equation and converting it into a quadratic equation form, we get:

q² + 65q - 7,500 = 0

By solving this quadratic equation, we find two potential values for q. However, since the demand function is a downward-sloping curve, we consider the positive value for q, which is q = 50 units.

Substituting this value back into either the supply or demand function, we can find the equilibrium price. Using the supply function, we have:

p = 65q

p = 65 * 50

p = $3,250

Therefore, the equilibrium quantity is q = 50 units, and the equilibrium price is p = $6,250.

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Louis and Greg entered into an oral contract whereby Louis would transfer real estate he owned in Long Beach to Greg. In exchange, Greg agreed to pay $300,000.00 to Louis. Two days later, Louis received an offer from Ken to buy the real estate for $500,000.00 (the real fair market value). Louis then claimed that his contract with Greg was unenforceable since there was insufficient consideration by Greg and the contract had to be in writing. Which of the following is the best description of Louis's claim as to his contract with Greg?
A. The contract did not have consideration because $300,000.00 is unreasonable given the fair market value of the real estate and was obviously made by mistake.
B. The contract was void because it was not in writing.
C. The contract had consideration because Greg agreed to pay $300,000.00 for Louis's real estate and the contract had been fully performed because there was nothing left to be negotiated.
D. The contract did have consideration but was voidable as an oral contract because Louis had not fully performed.

Answers

Answer: The contract had consideration because Greg agreed to pay $100K for Louis's real estate and the contract had been fully performed

Explanation:

influences of Business environment,​

Answers

Factors that Influence the business environment are :

Economic environmentSocial environmentTechnological environmentPolitical environmentLegal environment

The business environment means the total of all the individuals, and institutions that could affect the working of the business firm.

Importance of business environment:

Business environments help the firm to prepare itself for every possible obstruction or hindrance that can affect the functioning of the firm.It also helps the firm to adjust to frequent changes.

The economic environment is all the things that create an economic impact on the firm.

The social environment is all the traditions and customs of the society that creates an impact on the firm.

The technological environment is all the impact on the firm caused due to new technology and upgradations.

The political environment is the conditions and behavior that the elected representatives hold toward the business

The legal environment is entirely based on the rules and legislation of the authorities.

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Ultimately, the ______ control(s) the corporation. a) chief operating officer. b) shareholders. c) members of the board of directors. d) chief executive officer. e) chair of the board

Answers

b) shareholders

Ultimately, the shareholders control(s) the corporation. The correct option is b) shareholders.Shareholders are the owners of the corporation and have the ultimate say in how the corporation is run. They elect the board of directors, who in turn appoint the chief executive officer (CEO) and other top executives. The CEO and other top executives are responsible for the day-to-day management of the corporation, but they ultimately answer to the board of directors and the shareholders. The chair of the board is typically the leader of the board of directors, but they do not have ultimate control over the corporation.

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Final answer:

The members of the board of directors control the corporation.

Explanation:

The members of the board of directors control the corporation. They are responsible for making important decisions and setting the overall direction of the company. Shareholders, on the other hand, have the power to influence decision-making through voting rights and electing members of the board.

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