Answer: $184.34
Bess issued four checks with amounts $175.17, $175.53, $175.35,and $184.34. With the total amount she issued, she expected her balance based on her cash register to be $869.96, but as per bank statement, her balance is $1054.13.
To get the amount of check which is not cleared yet, we have to deduct the balance in the cash check register from that of the bank statement:
$1054.13-$869.96 =184.17
$184.34 is the best answer because it is the last he wrote and the discrepancy of 0.17 may be due to some bank charges Bess had not recorded.
Answer:
Dr. Freight-in $28
Dr. Supplies Expense $42
Dr. Entertainment of Clients $65
Dr. Postage Expense $30
Dr. Cash Short/over $3
Cr. Cash (200-32) $168
Explanation:
Petty cash is kept to deal with the day to day expense of the business. It is kept separate from the cash balance of the company.
To replenish the fund we, need to record the petty cash expenses in their respective accounts and deduct the amount from petty cash account.
If the cash is short or over the balance shown in the account we also need to record it.
Answer:
The correct answer is The owners themselves.
Explanation:
The Coase Theorem points out that if property rights are well defined and transaction costs are zero, the negotiation between the parties will lead us to an optimal point of allocation in the market.
According to Coase's theorem, when the parties can negotiate freely and without major costs, it does not really matter which part initially has the right of ownership since in the end it will remain in the hands of those who value it most. The final result of the negotiation will lead us to an optimal allocation of resources.
Property rights indicate who owns or has permission to do something.
Answer:
$42.5 billion
Explanation:
the expected value formula = ∑ (valueₙ x probabilityₙ)
expected value = (low value x probability of low value) + (most likely value x probability of most likely value) + (high value x probability of high value)
= ($5 billion x 20%) + ($45 billion x 70%) + ($100 billion x 10%) = $1 billion + $31.5 billion + $10 billion = $42.5 billion
