In an imprest system, the bank account is reimbursed for the exact amount of the disbursements made from the fund
Indicate whether the statement is true or false
T
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When a company receives cash in advance from a customer, it should debit Cash and credit Accounts Receivable.
Answer the following statement true (T) or false (F)
Below is the common equity section (in millions) of Timeless Technology's last two year-end balance sheets: 2018 2017 Common stock2,000 1,000 Retained earnings2,000 2,340 Total common equity$4,000 $3,340 ? The firm has never paid a dividend to its common stockholders. Which of the following statements is CORRECT?
A. The company's net income in 2018 was higher than in 2017. B. The firm issued common stock in 2018. C. The market price of the firm's stock doubled in 2018. D. The firm had positive net income in both 2017 and 2018, but its net income in 2018 was lower than it was in 2017. E. The company has more equity than debt on its balance sheet.
The Gadget Company manufactures a wrist watch for spy agencies. The watch has a built-in cell phone, Geiger counter, compass, magnet and garroting wire. Forecasted sales are shown on the top row of the table
Forecasted cash inflows and outflows are also shown in the table. The cash balance at the end of May is $30,000. What is the cash balance at the end of June? Sales Forecast Cash Budget The Gadget Company April May June Sales forecast $30,000 $30,000 $30,000 Total Cash inflows $30,000 $30,000 $30,000 Total Cash Outflows $13,750 $13,750 $13,750 Net cash flow Beginning Cash Balance Plus: Net Cash Flows Ending Cash Balance $30,000 A) $36,750 B) $42,250 C) $46,250 D) $46,750 E) $50,000
When an organization has a diverse set of employees that can provide insight and cultural sensitivity, this should improve the company's ability to understand different cultures and languages. The company may gain:
A. cost advantages. B. a marketing edge. C. minority recruitment advantage. D. cultural diversity. E. a human resource advantage.