A petty cash transaction when funding it by making a cash withdrawal at the bank. To do this, you would complete a journal entry in your accounting records.
When you fund petty cash by making a cash withdrawal at the bank, you enter it in the petty cash account by completing a journal entry. A journal entry is a record of a financial transaction in your accounting system, and it includes a debit and a credit to different accounts.
Here's a step-by-step explanation of how to enter the transaction:
1. First, determine the amount of cash withdrawn from the bank to fund the petty cash. For example, let's say you withdraw $100.
2. Next, create a journal entry in your accounting records. A journal entry consists of a debit and a credit, and it should always balance (i.e., the total debits should equal the total credits).
3. In this case, you would debit the Petty Cash account for $100. This increases the balance in the Petty Cash account, which represents the amount of cash available for small, miscellaneous expenses.
4. Now, you need to record the credit side of the journal entry. Since you withdrew cash from the bank, you would credit the Cash (or Bank) account for $100. This decreases the balance in the Cash account, reflecting the cash withdrawal.
To summarize, when funding petty cash by making a cash withdrawal at the bank, you would enter it in the petty cash account by completing a journal entry that debits the Petty Cash account and credits the Cash (or Bank) account. This ensures that your accounting records accurately reflect the movement of cash between accounts.
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5. Which car company is most associated with the term lean operations?- General motors- Ford- Toyota- Honda
Toyota is the car company most associated with the term "lean operations." The company is well-known for implementing the Toyota Production System (TPS), which is often considered a pioneering example of lean manufacturing techniques.
Lean operations is a methodology for optimizing business processes and reducing waste in order to improve efficiency and effectiveness. It was originally developed by Toyota in the 1950s and has since been adopted by many other organizations in various industries. At its core, lean operations involves identifying and eliminating any processes or activities that do not add value to the end product or service. This can include things like overproduction, excess inventory, unnecessary transportation, waiting times, over-processing, defects, and unused talent. By streamlining these processes and focusing on what truly adds value, businesses can reduce costs, increase productivity, and enhance customer satisfaction.
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what is the meaning of gdp and gnp?
GDP and GNP are both measures of the economic performance of a country, but they differ in the scope of their measurement.
GDP stands for Gross Domestic Product, which is a measure of the total value of goods and services produced within a country's borders during a specific period, usually a year. GDP is considered to be one of the most important indicators of a country's economic performance and is used to measure the size and growth of an economy.
There are two main ways of calculating GDP: the expenditure approach and the income approach. The expenditure approach calculates GDP by adding up all the expenditures on final goods and services within a country, including consumer spending, government spending, investment, and net exports (exports minus imports). The income approach, on the other hand, calculates GDP by adding up all the incomes generated by the production of goods and services within a country, including wages, salaries, profits, and rent.
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The United States imports more products and services than any nation in the world. True/False
True The US imports more goods and services than any other nation in the globe.
The goods and services that citizens of a country choose to buy rather than those produced in that country are known as imports. Import transactions include payments to sellers who are based outside, thus there is a corresponding outflow of money from the country.
The US imported $2,810.6 billion in goods and services in 2020, down $294.5 billion from the previous year. This amounted to $2,350.6 billion in goods and $460.1 billion in services.
Imports are business dealings in which non-residents sell products and services to a territory's people (such as a country). The correct definition of goods includes and excludes particular "borderline" circumstances.
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Which of these is NOT a concern for consumers in times of inflation?
a.They cannot anticipate the cost of goods and services.
b.They lose money on their investments and savings.
c.They are at a disadvantage when paying back borrowed money.
d.They struggle when they are on a fixed income.
Answer: D
Explanation:
who here from K12? (sorry for asking this question)
Answer:
Explanation:
Answer:
Not I.
Explanation:
This is just constructive criticism, but I don't recommend listing your school here.
We have this project in my business class, we have to come up with a store/business. I choose a candy store but I can’t think of any fine names. Can someone help me come with a name please?
Answer:
Candy Crush
Explanation:
Its catchy
Answer:
The Sweete Shoppe
The Lolly Pop
50 Shades of Candy
Explanation:
Helppppppppppppp
Why is engaging communication a two-way process?
Why are words alone not enough to communicate effectively?
Answer:
Explanation:
You need 2 people to have a conversation, not just words. You can’t just be in and empty room and just talk. You need someone else to talk to you.
Does the Federal Reserve pay taxes?
Answer:
Federal Reserve banks are exempt from paying taxes at the federal, state and local levels, except on real estate holdings. This is because of rules on taxation set forth in Section 7(c) of the Federal Reserve Act.
Explanation:
Which is a strategy for using technology to help stay fit?
a. going for a walk and guessing how many miles you walked
b. exercising when you feel inspired to do it
c. wearing a fitness bracelet that keeps track of your daily steps
d. watching Netflix or television after a long day of classes
A strategy for using technology to help stay fit is wearing a fitness bracelet that keeps track of your daily steps.
Wearable fitness technology uses a device that is worn at all times to measure physical activity such as steps walked, calories burn, and workout intensity.
Looking down at an electronic gadget for a long periods can lead to neck and back pain as well as pains in elbows, wrists and hands. To overcome these causes by using fitness technology is a great way for physical activities.
Pedometer-based walking programs were also associated with significant decreases in body mass index, etc.
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Blade pays tax of $5,000 on taxable income of $50,000 while Caden pays tax of $12,000 on taxable income of $100,000. What type of tax rate structure appears to be in force?
Answer:
The tax structure appears to be progressive
Explanation:
A progressive tax structure is a tax structure in which the higher the income, the higher the tax liability, and the lower the income, the lower the tax liability.
This tax structure is the most common around the world because it is generally seen as fair. It is common sense for most people that higher incomes should pay more than lower incomes. However, there are economists that defend other tax structures with very strong arguments, so the debate is still ongoing.
According to the video, what are some qualities Clergy need? Check all that apply. knowledge of office technology able to speak multiple languages able to inspire confidence sensitive to the needs of others awareness of medical treatments
Answer:
It's C and D
Explanation:
It's correct on Edge! :3
Answer:
C and D are correct
Explanation:
I NEED THIS RIGHT NOW
Which of the following is NOT true about message sensitivity options?
Recipients of messages do not have to respect your requests for privacy.
Messages can be marked private.
Not all email services provide options for email sensitivity.
Messages marked as private or confidential cannot be shared with others.
(It's not c)
Answer:
a.recipients of messages do not have to respect your requests for privacy
List 7 types of media's with notes about them. Or less.
Answer:
good
Explanation:
Print Media (Newspapers, Magazines)
Broadcast Media (TV, Radio)
Outdoor or Out of Home (OOH) Media.
Internet.
1. health systems nationwide are trying to cut costs because
Health systems nationwide are trying to cut costs because of various factors, including rising healthcare costs, an ageing population, and changes in healthcare policy.
Healthcare costs in the United States have been rising steadily for decades, driven by factors such as advances in medical technology, an ageing population, and increasing chronic disease rates. In response to these trends, health systems nationwide are trying to cut costs and improve efficiency while maintaining or improving the quality of care. This has led to a greater focus on value-based care, which aims to provide the best possible care outcomes at the lowest possible cost.
One way that health systems are cutting costs is by shifting towards new models of care delivery, such as telemedicine, home health, and outpatient care. These models are often less expensive than traditional hospital-based care and can be more convenient and accessible for patients. Additionally, health systems are investing in technology and data analytics to improve efficiency and reduce waste. This can involve using electronic health records (EHRs) to streamline patient care, implementing supply chain management systems to reduce costs, and using data analytics to identify areas where care can be improved.
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During the two years he has been working, Jeffrey has saved some money to buy a house. His parents have agreed to loan him part of the down payment, and he has started to look for a house he can afford. He discovered a great house that has two apartments in it. He has looked at all the information carefully, done his budget, and thinks he can afford the house because he will live in only part of it and will rent out the other half. If Jeffrey buys this house, lives in the apartment upstairs and rents out the apartment downstairs, which of the following is true?
Answer:
you have to give "the following"
How would you describe the dangers of debt to a friend?
Answer:
I would explain to them that the danger of debt. Can lead to credit going down. When you don’t pay your debt, and you get behind your credit can go down
write short notes by Napier bone
Answer:
Napier's bones is a manually-operated calculating device created by John Napier of Merchiston, Scotland for the calculation of products and quotients of numbers. The method was based on lattice multiplication, and also called 'rabdology', a word invented by Napier. Napier published his version in 1617.
What is the annual profit when the income is $200,000.00 and the expenses are $150,000.00
Answer:
╭┄┈┄────────❥Let us take the example of a company with total revenue of $200,000 and explicit costs of $150,000. Calculate the economic profit of the company if the implicit costs are $30,000. Therefore, the company earned economic profit of $20,000.
please help!!! thank you
Statement of Advice 3 - Calculate the franking account and tax payable by Smart Solutions Pty Ltd.
George Costanza is a director of Smart Solutions Pty Ltd, an Australian resident private company, with a corporate tax rate for imputation purposes for the 2021/22 income year of 25%.
George provided you with the following information regarding the company's franking account:
Date Transactions Amounts 1
July 2021 Opening balance $2,400
30 August 2021 Tax refund from 2021 company tax return $4,500
20 October 2021 PAYG instalment paid relating June quarter 2021 $1,900
11 November 2021 PAYG instalment paid relating September quarter 2021 $1,300
28 December 2021 Paid fully franked dividend $10,000
2 February 2022 Received fully franked dividend from Australian company $6,000
27 February 2022 PAYG instalment paid relating December quarter 2021 $1,300
25 May 2022 PAYG instalment paid relating March quarter 2022 $1,300
28 June 2022 Paid 60% franked dividend $10,000
Other information
(1) Benchmark franking percentage for Smart Solution Pty Ltd is 100%
(2) Smart Solutions Pty Ltd's final PAYG instalment for June quarter 2022 totalled $1,300 and this will be paid by 25 August 2022.
(3) Smart Solutions Pty Ltd has a taxable income of $27,000 for 2021/22.
Required
1) Prepare Smart Solutions Pty Ltd's franking account for the 2021/22 tax year and explain/advise any consequences arising from the franking account balance at 30 June 2022.
2) Calculate net tax payable (refundable) for the company.
The net tax payable for Smart Solutions Pty Ltd is -$150, indicating a refundable amount.
1. To prepare Smart Solutions Pty Ltd's franking account for the 2021/22 tax year, we need to record the transactions and calculate the balance at the end of the year. Let's go through each transaction:
July 2021 Opening balance: $2,400
Opening balance of the franking account.
30 August 2021 Tax refund from 2021 company tax return: $4,500
This transaction increases the franking account balance.
Franking Account Balance: $2,400 + $4,500 = $6,900
20 October 2021 PAYG instalment paid relating to June quarter 2021: $1,900
This transaction decreases the franking account balance.
Franking Account Balance: $6,900 - $1,900 = $5,000
11 November 2021 PAYG instalment paid relating to September quarter 2021: $1,300
This transaction decreases the franking account balance.
Franking Account Balance: $5,000 - $1,300 = $3,700
28 December 2021 Paid fully franked dividend: $10,000
The dividend is fully franked, meaning it carries the maximum franking credit. The franking account balance is reduced by the franking credit attached to the dividend.
Franking Account Balance: $3,700 - ($10,000 / 0.25) = -$8,300
Note: The negative balance indicates that the company's franking account is in deficit. This has consequences for the company, as it means there is not enough franking credits to fully frank future dividends.
2 February 2022 Received fully franked dividend from an Australian company: $6,000
The company receives a fully franked dividend, which increases the franking account balance.
Franking Account Balance: -$8,300 + ($6,000 / 0.25) = $16,700
27 February 2022 PAYG instalment paid relating to December quarter 2021: $1,300
This transaction decreases the franking account balance.
Franking Account Balance: $16,700 - $1,300 = $15,400
25 May 2022 PAYG instalment paid relating to March quarter 2022: $1,300
This transaction decreases the franking account balance.
Franking Account Balance: $15,400 - $1,300 = $14,100
28 June 2022 Paid 60% franked dividend: $10,000
The dividend is 60% franked, meaning it carries a franking credit equal to 60% of the dividend amount. The franking account balance is reduced by the franking credit attached to the dividend.
Franking Account Balance: $14,100 - ($10,000 * 0.6 / 0.25) = $6,900
At the end of the 2021/22 tax year (30 June 2022), the franking account balance for Smart Solutions Pty Ltd is $6,900.
Consequences arising from the franking account balance at 30 June 2022:
Since the franking account balance is positive, the company has sufficient franking credits to fully frank any dividends it may pay in the future. This means shareholders will be able to claim the franking credits and reduce their personal tax liability when they receive dividends from the company.
To calculate the net tax payable (refundable) for the company, we need to determine the company's taxable income and apply the corporate tax rate.
Taxable Income: $27,000
Corporate Tax Rate: 25%
Tax Payable: $27,000 * 0.25 = $6,750
Since the franking account balance is positive, it can be used to offset the company's tax liability. If the franking account balance is more than the tax payable, the excess can be refunded to the company. If the franking account balance is less than the tax payable, the company will need to pay the remaining tax.
In this case, the net tax payable (refundable) for the company would be:
Net Tax Payable: $6,750 - $6,900 = -$150
Therefore, the net tax payable for Smart Solutions Pty Ltd is -$150, indicating a refundable amount.
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How is the housing industry related to the economy? If the economy is doing well, what types of homes are being constructed and purchased? What if the economy is doing badly? Other than housing, what additional industries might the economy impact?
The housing industry have important relation with the economy because its prices can impact residential investment and thus, affect the economic growth.
What is housing industry?An housing industry is an industry that encompasses building of housing. construction, engaging in commercial housing activities etc.
Generally, when an economy is doing well, it will be favorable to build house of high value as its gives higher confidence in the industry and economy,
Also, the additional industries that impact an economy includes Healthcare, Technology, Retail, Manufacturing industry etc
In conclusion, the housing industry have important relation with the economy because its prices can impact residential investment and thus, affect the economic growth.
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What is the role of the FTC in U.S. cybersecurity law and policy? In your opinion, does it play too big, or too small, of a part in safeguarding consumers from unfair and deceptive trade practices?
The answer to the role of the FTC in U.S. cybersecurity law and policy is that the FTC protects customers from unfair and deceptive trade practices. It is authorized to enforce Section 5 of the Federal Trade Commission Act, which prohibits unfair or deceptive acts or practices, and this includes data security.
The Federal Trade Commission is a vital agency when it comes to safeguarding consumers from unfair and deceptive trade practices, which includes cybersecurity law and policy. FTC's responsibility and authority are broad, from shielding customer privacy to protecting businesses from unfair competition. This agency has long been committed to consumer protection.
The FTC also performs investigations and initiates enforcement actions against companies whose data security practices are inadequate and do not meet the required security standards. Additionally, it provides helpful information to assist businesses in safeguarding customers' personal data, such as consumer protection data. Therefore, it is safe to say that the FTC is doing a good job of safeguarding consumers from unfair and deceptive trade practices.
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the investment demand curve will shift to the right as the result of
The investment demand curve will shift to the right due to "the availability of excess production capacity."
This is based on the idea that when the production capacity increases, the investment demand also increases.
This situation is established because the firms would want to invest more as the production capacity increases, resulting in more revenue and profits.
Hence, in this case, it is concluded that the demand for supply or goods drives up demand for more investment.
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+50 pts Which examples demonstrate common Therapeutic Services workplaces and employers? Check all that apply.
Reiko owns and operates her own private chiropractic practice.
Barney performs experiments in a research laboratory at a university.
Harmony assists with surgeries in a nonprofit community hospital.
Lionel listens to audio recordings and transcribes them in his home office.
Piper prepares food for customers in a restaurant.
Ian helps patients with basic tasks in their own homes.
Answer:a, c, f
Explanation:just got it right on edge
The following examples demonstrate common Therapeutic Services for workplaces and employers.
Reiko owns and operates her own private chiropractic practice.Harmony assists with surgeries in a nonprofit community hospital.Ian helps patients with basic tasks in their own homes.The correct options are A, C, and F.
What is the difference between therapy and therapeutics?An expert in mental health must be present and collaborating with you for something to be deemed "therapy." Even though the effects of therapy might be therapeutic, only the time spent with the mental health counselor actually counts as therapy.
To address an identified health issue, therapeutic procedures are carried out. The administration of prescription drugs, surgical procedures, and psychotherapy are just a few of the diverse processes that they cover. You have the chance to examine your thoughts, feelings, and behavioral patterns by working with a psychologist, therapist, or counselor in a therapeutic relationship. It can also assist you in picking up new coping mechanisms and methods to better handle the daily stresses and symptoms connected to your diagnosis.
Thus, the ideal selection is options A, C, and F.
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hurry! #3
What soft skills should a customer service representative use when resolving customer issues?
negotiation and bartering
control and manipulation
empathy and humor
speed and knowledge
Answer:
empathy and humor
See Hint One of the main reasons why negative externalities occur is that property rights are not well defined. Because nobody owns the air, factory owners will emit pollution, reducing the amount of clean air. If property rights are well defined, then it is likely that resources will be used efficiently.
Suppose Sean owns two acres of land he uses to graze sheep that he shears for their wool. He can also sell the sheep for meat. Which of the following are the incentives created if Sean has well-defined property rights to the land? Choose one or more:
A. He can sell the land if it is more valuable to someone else.
B. He has an incentive to protect his land from trespassers and poachers.
C. Because the land is Sean’s, he has an incentive to neglect it. It’s his after all, so why does he care if it runs down?
D. Sean has an incentive to maintain the land in good condition.
E. Sean will want to conserve the land so that he can graze his sheep year after year.
F. Sean has an incentive to overuse the land and let as many sheep as possible graze on it.
The incentives created if Sean has well-defined property rights to the land are A, B, D, and E.
Having well-defined property rights means that Sean has legal ownership and control over his land. This creates several incentives for him:
A. He can sell the land if it is more valuable to someone else, allowing him to maximize its value and potentially invest in other resources or ventures.
B. He has an incentive to protect his land from trespassers and poachers, ensuring that his sheep and their wool remain safe and valuable.
D. Sean has an incentive to maintain the land in good condition, as healthy land supports healthier sheep, which can lead to better wool and meat production, and ultimately higher profits.
E. Sean will want to conserve the land so that he can graze his sheep year after year, ensuring a sustainable and long-term source of income from wool and meat production.
Well-defined property rights promote efficient resource use and help prevent negative externalities, such as overgrazing or land degradation, by giving owners the motivation to protect and maintain their property.
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By displaying activities that have slack, a _________ can help speed the completion of an entire project by directing resources to critical activities.
Multiple Choice
flow chart
Punnett square
Gantt chart
PERT chart
A PERT chart can help speed up the completion of a project by directing resources to essential activities by displaying activities with slack.
What is the purpose of a PERT chart?
A project management tool used to schedule, organize, and coordinate project tasks is the PERT chart, also known as a PERT diagram.It gives project managers a graphical representation of the timeline of a project, allowing them to analyze each project task individually.
At the project level, how can PERT assist?
A project management planning tool known as the Program Evaluation Review Technique (PERT) is used to estimate how long it will take to successfully complete a project.Project tasks are planned using PERT charts, which make it easier to schedule and coordinate team members.
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Suppose that the calculated value of r between cognitive ability and job performance is 0.73. How much variation in job performance is explained by the variation in cognitive ability?
Answer:
53.28%
Explanation:
The correlation coefficient (r) between cognitive ability and job performance is provided as 0.73. Therefore, the coefficient of determination is calculated as follows:
Coefficient of determination = r² = 0.73² = 0.5329
Therefore, 53.28% can be concluded to be the variation in job performance as explained by the cognitive ability.
You are really hungry and have been wanting to eat pizza all day. Instead of ordering a medium, you order a large. However, after about 4 slices, you don’t want anymore. This is an example of which factor?
Responses
diminishing personal value
diminishing personal value
substitutes
substitutes
buying power
buying power
diminishing marginal utility
The fact that you ordered a large pizza but after 4 slices, don't want anymore is an example of diminishing marginal utility.
What is diminishing marginal utility?Diminishing marginal utility refers to an economic principle that talks about how the utility or satisfaction that a person gets from each additional unit of an item increases at first, and then decreases.
For instance, the person was really hungry and then ordered a large pizza to be satisfied. But as they ate more slices, they were satisfied less and less and eventually ended up wanting no more slices of pizza.
In conclusion, this is diminishing marginal utility.
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Which type of endorsement transfers ownership to someone else?
Blank
Restrictive
Special
None of these
Answer:
Special
Explanation:
A payee performs a special endorsement when they want someone else to receive the check amount. It means the payee transfers the rights to the check payment or the asset to a third party. The payee is the person whose name appears on the front.
In the special endorsement, the payee writes at the back of the check or instrument, " pay to the order of'' and states the new recipient's name. The payee has to sign to confirm the endorsement.