Answer:
X-tend 9
Explanation:
Answer:
In my opinion I think
7, speed - s.
Compute prime cost given the following data: direct materials, $ 47,500; direct labor, $ 96,300; factory overhead, $ 87,900; and selling expenses, $ 54,290. a. $ 142,190 b. $ 285,990 c. $ 143,800 d. $ 184,200
Answer:
577,1970
Explanation:
that correct answer
Robyn was a lawyer for the Department of State who has been disbarred for ethical lapses including dishonesty and interfering with investigations.
After losing his license to practice law, he was fired from the State Department. What MOST likely must Robyn do now?
A. Appeal his case to the American Bar Association.
B. Find a new career outside the legal profession.
C. Wait a year and reapply for his license.
D. Take his case to an appeals court.
The most likely thing for Robyn to do is B. Find a new career outside the legal profession.
Why does Robyn need to leave the legal profession ?Since he has lost his license to practice law, he would not be able to continue working as a lawyer or in any other legal capacity. In addition, his firing from the State Department would likely make it difficult for him to find employment in a related government agency.
Therefore, the most realistic option for Robyn would be to seek employment in a different field or industry. Appealing his case to the American Bar Association or taking his case to an appeals court would likely not be fruitful options, as his disbarment and firing from the State Department suggest that his ethical lapses were significant and serious.
Find out more on license at https://brainly.com/question/17197957
#SPJ1
Wally's Walleyes wants to introduce a new product that has a start-up cost of $7,800. The product has a 2-year life and will provide cash flows of $4,500 in Year 1 and $4,300 in Year 2. The required rate of return is 15 percent. Should the product be introduced? Why or why not?
The calculated NPV is negative, indicating that the present value of expected cash flows does not exceed the start-up cost of the project. In other words, the project is expected to generate a net loss.
To determine whether Wally's Walleyes should introduce the new product, we can calculate the net present value (NPV) of the project. The NPV measures the present value of expected cash flows, taking into account the required rate of return.
To calculate the NPV, we need to discount the cash flows using the required rate of return (15 percent). The formula for calculating NPV is:
NPV = Cash Flow Year 1 / (1 + Required Rate of Return)^1 + Cash Flow Year 2 / (1 + Required Rate of Return)^2 - Start-up Cost
\(NPV = $4,500 / (1 + 0.15)^1 + $4,300 / (1 + 0.15)^2 - $7,800\)
\(NPV = $4,500 / 1.15 + $4,300 / (1.15)^2 - $7,800\)
NPV = $3,913.04 + $3,537.41 - $7,800
NPV = -$350.55
For such more question on net loss:
https://brainly.com/question/28390284
#SPJ8
Exercise 1-6 (Algo) Traditional and Contribution Format Income Statements [LO1-6] Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 12,000 Selling price per unit $ 17 Variable selling expense per unit $ 1 Variable administrative expense per unit $ 2 Total fixed selling expense $ 21,000 Total fixed administrative expense $ 13,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory $ 22,000 Merchandise purchases $ 89,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
Answer:
The net operating income is $56,000
Explanation:
1. The traditional imcome statement:
2. The contribution format income statement:
Working Note:
\(\\\text{Sale revenue}=12,000*\$17=\$204,000\\\text{Variable selling expense}=12,000*\$1=\$12,000\\\text{Variable administrative expense}=12,000*\$2=\$24,000\\\text{Cost of goods sold}&=\text{Beginning merchandise inventory}+\text{Merchandise purchase}-\text{Ending merchandise Inventory}\\&=\$11,000+\$89,000-\$22,000\\&=\$78,000\\\text{Selling expense}=\$12,000+\$21,000=\$33,000\\\text{Administrative expense}=\$24,000+\$13,000=\$37,000\)
Quickbrush Paint Company is developing a linear program to determine the optimal quantities of ingredient A and ingredient B to blend together to make oil-based and water-based paint. The oil-based paint contains 90 percent A and 10 percent B, whereas the water-based paint contains 30 percent A and 70 percent B. Quickbrush currently has 10,000 gallons of ingredient A and 5,000 gallons of ingredient B in inventory and cannot obtain more at this time. Assuming that x represents the number of gallons of oil-based paint, and y represents the gallons of water-based paint, which of the following constraint correctly represents the constraint on ingredient A?
a. 0.9x + 0.3y ≤ 10,000
b. 0.9A + 0.1B ≤ 10,000
c. 0.9x + 0.1y ≤ 10,000
d. 0.3x + .7y ≤ 10,000
Answer:
Constraint A is represented by 0.9x + 0.3y ≤ 10,000
Explanation:
Linear programming is a mathematical model that is used to solve a problem when a firm wants to maximize profit in the midst of multiple resource constraints.
The following steps should be followed:
Step 1: Define the variables
x= the gallons of oil-based paint
y= the gallons of water-based paint
Step 2: Define the constraints:
The constraints represent the limitations which could be resource; in this case ingredients A and B. Since the constraint in focus is A, so we only consider A
Constraint A = 0.9x + 0.3y ≤ 10,000
Non-negativity constraints x, y ≥ 0
Since the total inventory amount of ingredient A available is 10,000 gallons then the total consumption can either be equal to or less than 10,000, but can never be higher than 10,000
Constraint A is represented by 0.9x + 0.3y ≤ 10,000
PLEASE HELP!! This is economics/business work. Will give brainliest if correct!!
Trust is based on _________, which in turn is based on past acts of integrity and follow-through on promises.
cooperation (Incorrect)
credibility
unity
honesty
cohesiveness
Trust is based on credibility which in turn is based on past acts of integrity and follow-through on promises.
What are the benefits of credibility and trust?
Your company's ability to draw in investors, customers, and workers depend on its reputation in the marketplace. Additionally, you can use it to your advantage when obtaining credit extensions, negotiating loan terms, or applying for loans.
Credibility is founded on prior actions of integrity and keeping promises, which in turn is based on trust, which is based on credibility. Relationships are built on trust since it enables you to be open and vulnerable with the other person without feeling the need to defend yourself, according to Romanoff.
Therefore, Trust is to depend on someone because you feel secure around them and have faith in their integrity.
Learn more about Credibility from the given link.
https://brainly.com/question/29423422
#SPJ4
Information concerning a magazine’s readership is of interest both to the publisher and to the magazine’s advertisers. A survey of 500 subscribers included the following questions. For each question, determine the data type of possible responses.
a What is your age?
b What is your gender?
c What is your marital status?
d Is your annual income less than $30000,
between $30000 and $60000, or over
$60 000?
e To how many other magazines do you
subscribe?
f How do you rate the feature article
published in the current issue of the magazine (very good, good or poor)?
According to the article Employer Cost for Employee Compensation by the Bureau of Labor Statistics, which of the following best reflects the range of the percentage of wages and salaries within the total compensation cost for employers?
20 or less
90 or more
30 - 50
60-80
According to the article Employer Cost for Employee Compensation by the Bureau of Labor Statistics, the range 60-80 best reflects the percentage of wages and salaries within the total compensation cost for employers.
What is compensation cost?Compensation costs are the benefits that an employer must pay to an employee while the employee is unable to work (temporarily or permanently) due to an injury sustained on the job.
In September 2022, total employer compensation costs for civilian workers averaged $41.86 per hour worked, according to the U.S. According to the Bureau of Labor Statistics. Employers spent $28.88 on wages and salaries, accounting for 69.0 percent of total costs, while benefits cost $12.98, accounting for the remaining 31.0 percent.
Therefore, the last option, stating the range 60-80 best reflects the range of the percentage of wages and salaries within the total compensation cost for employers.
To learn more about compensation cost, click here:
https://brainly.com/question/28580088
#SPJ1
56 Points & BRAINLIEST Which of the following can be created between two tables which share a common field?
O Field report
O Relationship
O Datasheet
O Connections
i think the third option but i think its wrong i am unsure and i dont want to say thhe wrong thing
Marjorie Knaus, an architect, organized Knaus Architects on January 1, 20Y4. During the month, Knaus Architects completed the following transactions:
Recording transaction is a basic accounting process, with a few steps involved. The first step is to determine the transaction and which accounts it will affect. The second step is recording in the particular accounts. Consideration must be taken when numbers are inputted into the debit and credit sections.
According to T-accounts:
Cash
Account Titles Debit Credit
Common stock A. $30,000
Rent Expense B. $2,500
Automobiles, Equipment C. 6,000
Supplies E. 2,100
Prepaid Insurance F. 3,600
Accounts Receivable G. 9,000
Miscellaneous Expenses H. 2,600
Accounts Payable I. 4,000
Notes Payable J. 1,875
Salary Expense M. 6,000
Automobiles Expense N. 1,300
The Balance is $9,025
Now the Total is $39,000 $39,000
Accounts Receivable
Account Titles Debit Credit
Cash G. $9,000
Professional Fees L. 31,400
Balance $22,400
Supplies
Account Titles Debit Credit
Cash E. $2,100
Prepaid Insurance
Account Titles Debit Credit
Cash F. $3,600
Automobiles, Equipment
Account Titles Debit Credit
Notes Payable C. $22,500
Cash C. 6,000
Accounts Payable D. 8,000
Balance $36,500
Notes Payable
Account Titles Debit Credit
Automobiles, Equipment C. $22,500
Cash J. $1,875
Balance $20,625
Accounts Payable
Account Titles Debit Credit
Automobiles, Equipment D. $8,000
Cash I. $4,000
Blueprint Expense K. 5,500
Balance $9,500
Common Stock
Account Titles Debit Credit
Cash A. $30,000
Professional Fees
Account Titles Debit Credit
Accounts Receivable L. $31,400
Salary Expense
Account Titles Debit Credit
Cash M. $6,000
Blueprint Expense
Account Titles Debit Credit
Accounts Payable K. $5,500
Rent Expense
Account Titles Debit Credit
Cash B. $2,500
Automobile Expense
Account Titles Debit Credit
Cash N. $1,300
Miscellaneous Expense
Account Titles Debit Credit
Cash H. $2,600
Trial Balance
As of January 31, 2018:Account Titles Debit Credit
Cash $9,025
Accounts receivable 22,400
Supplies 2,100
Prepaid Insurance 3,600
Automobiles, Equipment 36,500
Notes Payable $20,625
Accounts Payable 9,500
Common Stock 30,000
Professional Fees 31,400
Salary Expense 6,000
Blueprint Expense 5,500
Rent Expense 2,500
Automobiles Expense 1,300
Miscellaneous Expense 2,600
Totals $91,525 $91,525
Data and Transaction Analysis:A. Cash $30,000 Common Stock
B. Rent Expense $2,500 Cash $2,500
C. Automobiles, Equipment $28,500 Cash $6,000 Notes Payable $22,500
D. Automobiles, Equipment $8,000 Accounts Payable $8,000
E. Supplies $2,100 Cash $2,100
F. Prepaid Insurance $3,600 Cash $3,600
G. Cash $9,000 Accounts Receivable $9,000
H. Miscellaneous expenses, $2,600 Cash $2,600
I. Accounts Payable $4,000 Cash $4,000
J. Notes Payable $1,875 Cash $1,875
K. Blueprint Expense $5,500 Accounts Payable $5,500
L. Accounts Receivable $31,400 Professional Fees $31,400
M. Salary Expense $6,000 Cash $6,000
N. Automobiles Expense $1,300 Cash $1,300
Learn more about recorded transaction here:
https://brainly.com/question/14670286#SPJ9When a tax is placed on the sellers of cell phones, the size of the cell phone market?
a. decreases, but the effective price received by sellers increases.
b. and the effective price received by sellers both decrease.
c. increases, but the effective price received by sellers decreases.
d. and the effective price received by sellers both increase.
When a tax is placed on the sellers of cell phones, the size of the cell phone market decreases, but the effective price received by sellers increases.
As soon as the government raises the tax imposed on such devices, cell phones will become more expensive. The number of provided cell phones will decline over time. As more buyers enter the market, consumer surplus rises. The value of what she must forego in order to make a good decreases as a result of the decline in price. Consumer surplus and producer surplus both decrease when a good is sold and taxed. The total surplus of society decreases as a result of the consumer surplus and production surpluses declining more rapidly than government revenue is increased.
The price purchasers pay for the good less the tax is the price sellers receive.
The cost of a cell phone that the employer purchases and gives to the employee so they can perform job-related activities is not a taxable benefit to the employee.
Read more about market tax at
https://brainly.com/question/13681276
#SPJ4
Mitchell Bicycle Shop has the following transactions related to its top-selling Mongoose mountain bike for the month of March. Mitchell Bicycle Shop uses a periodic inventory system. Date Transactions Units Unit Cost Total Cost March 1 Beginning inventory 20 $185 $3,700 March 5 Sale ($270 each) 15 March 9 Purchase 10 205 2,050 March 17 Sale ($320 each) 8 March 22 Purchase 10 215 2,150 March 27 Sale ($345 each) 12 March 30 Purchase 9 235 2,115 $10,015 For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase. Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. 2. Using FIFO, calculate ending inventory and cost of goods sold at March 31. 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. 4. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31. 5. Calculate sales revenue and gross profit under each of the four methods. 6. Comparing FIFO and LIFO, which one provides the more meaningful measure of ending inventory? 7. If Mitchell Bicycle Shop chooses to report inventory using LIFO instead of FIFO, record the LIFO adjustment.
Bikes from initial inventory are included March 5 sale, a March 17 outsourcers bikes from March 9 sale, or Mar 27 sale includes four bikes from the initial balance & eight bikes from March 22 purchase. 1/2 is need.
Now what you mean by inventory?All the products, materials, and things that a company keeps on hand in anticipation of selling them to customers for a profit are referred to as inventory. Example: If a newspaper seller utilizes a vehicle to distribute newspapers to clients, just the newspapers will be deemed inventory.
What are the four different categories of inventory?Raw materials/components, WIP, final products, and MRO are the four main categories of inventory.
To know more about inventory visit:
https://brainly.com/question/14184995
#SPJ1
Mac Book Air is selling for $1,799 now. Apple's financing plan dictates an annual percentage rate (APR) of 18.25% with equal monthly payment for 68 months. The first monthly payment is due immediately. How much are consumers required to pay each month for one Mac Book Air under this plan
The consumers are required to pay $334.11 each month for one Mac Book Air under Apple's financing plan.
The consumers are individuals or households who purchase and use goods and services to satisfy their needs and wants. They are the end-users of products and services offered by businesses and organizations.
In the context of economics, consumers are an essential part of the demand side of the market, driving the production and distribution of goods and services.
To determine the monthly payment required under Apple's financing plan, we can use the formula for the equal monthly payment of a loan
Learn more about consumers here:
https://brainly.com/question/30972677
#SPJ1
At a Hallmark store you can find several lines of greeting cards, including Fresh Ink, Nature’s Sketchbook, Shoebox, Maxine, Mahogany, and Tree of Life cards—all made by Hallmark for sale in its stores and intended to appeal to different target markets. The Mahogany line is designed to appeal to African Americans. This is an example of ________ segmentation.
The aforementioned illustration shows how demographic segmentation is used, with the Mahogany line being created with African Americans in mind.
What do you mean by segmentation?The process of segmenting a target market into groups of potential customers with similar requirements and behaviors involves dividing the market into segments.
The division of consumers into segments according to their demographic traits is known as demographic segmentation. Age, gender, income, education, religion, nationality, and other factors are included in this.
Thus, the correct answer to be filled in the given blank is Demographic segmentation.
Learn more about segmentation :
https://brainly.com/question/14315539
#SPJ1
Big Lots is able to compete against Wal-Mart with a cost leadership strategy because of its strengths in highly disciplined merchandise cost and inventory management system. This illustrates the
Answer:
Big Lots is able to compete against Wal-Mart with a cost leadership strategy because of its strengths in highly disciplined merchandise cost and inventory management system.
Explanation:
fact that support activities in the firm can provide sources of cost reduction
Hunter has just completed his first year of operation as a sole proprietor of a successful sporting goods store. There were
challenges but he was excited about getting to keep all the profits of the venture to himself.
A) Advantage of a sole proprietorship
B)Disadvantage of a sole proprietorship
Some of the advantages and disadvantages of sole proprietorship include:
Advantage - keep all the profits Disadvantage - personally liable for any debtsWhat are the advantages and disadvantages of sole proprietorship?One of the advantages of a sole proprietorship is that the business owner gets to keep all the profits of the business for themselves. This is because the owner has complete control over the business and is not required to share the profits with any other partners or shareholders.
One of the disadvantages of a sole proprietorship is that the business owner is personally liable for any debts or legal issues that arise in the course of business.
Find out more on sole proprietorship at https://brainly.com/question/16718554
#SPJ1
A comparative balance sheet and income statement is shown for Cruz, Incorporated.
CRUZ, INCORPORATED
Comparative Balance Sheets
At December 31 2021 2020
Assets
Cash $ 63,600 $ 15,900
Accounts receivable, net 27,400 33,700
Inventory 57,400 63,300
Prepaid expenses 3,500 2,900
Total current assets 151,900 115,800
Furniture 70,500 82,200
Accumulated depreciation—Furniture (10,900) (6,200)
Total assets $ 211,500 $ 191,800
Liabilities and Equity
Accounts payable $ 10,000 $ 14,100
Wages payable 6,000 3,300
Income taxes payable 1,000 1,800
Total current liabilities 17,000 19,200
Notes payable (long-term) 20,700 47,800
Total liabilities 37,700 67,000
Equity
Common stock, $5 par value 153,600 124,000
Retained earnings 20,200 800
Total liabilities and equity $ 211,500 $ 191,800
CRUZ, INCORPORATED
Income Statement
For Year Ended December 31, 2021
Sales $ 328,400
Cost of goods sold 211,300
Gross profit 117,100
Operating expenses (excluding depreciation) 60,000
Depreciation expense 25,300
Income before taxes 31,800
Income taxes expense 11,600
Net income $ 20,200
Required:
Use the indirect method to prepare the operating activities section of Cruz’s statement of cash flows.
Add: Decrease in inventory $6,300
Less: Increase in prepaid expenses -$700
Less: Decrease in accounts payable -$4,100
How to solveCash Flows From Operating Activities Section of Cash Flow Statement:
Particulars Amount Amount
Cash flow from operating activities:
Net income $20,400
Adjustments to reconcile Net income to operating cash flow
Income statement items not affecting cash:
Add: Depreciation expenses $25,400
Changes in current operating assets and liabilities
Add: Decrease in accounts receivable $6,500
Add: Decrease in inventory $6,300
Less: Increase in prepaid expenses -$700
Less: Decrease in accounts payable -$4,100
Add: Increase in wages payable $2,700
Less: Decrease in income tax payable -$800 $9,900
Net cash Provided by (Used for) Operating Activities $55,700
*Decrease in current liabilities and Increase in current assets other than cash is deducted from Net Income.
*Increase in current liabilities and Decrease in current assets other than cash is added to Net Income.
*Non cash & Non operating expenses are added to Net income.
*Non cash & Non operating income are deducted from Net income.
Read more about balance sheet here:
https://brainly.com/question/1113933
#SPJ1
What is a bushiness opportunity?
Answer: You said it yourself, an opportunity.
Explanation:
A business opportunity is often used to describe a way for a business to make more money. It can also mean many other things such as hiring more employees, creating more roles, partnering with another company, etcetera.
But mainly used to make more money.pay, benefits, and job security/organizational financial stability are considered very important intrinsic factors that motivate employees.
It is false that pay, benefits, and job security/organizational financial stability are considered very important intrinsic factors that motivate employees because these factors are extrinsic.
Intrinsic motivation emerges from within the employee in order to satisfy their desire for self-realization and personal growth. This satisfaction is evidenced when the employee feels happy to do his job.
Which are intrinsic factors for employees?Be recognized as a valuable company resource.Perform interesting and challenging functions with autonomy and a high level of responsibility.Have more training in the areas of competence.Grow professionally in the organization with promotions according to professional profile and experience.To learn more about intrinsic motivation, click here:
https://brainly.com/question/16854116
#SPJ4
Are Trade Deficits Good or Bad for a Country?
Answer:
•A trade deficit is neither inherently entirely good or bad, although very large deficits can negatively impact the economy.
•A trade deficit can be a sign of a strong economy and, under certain conditions, can lead to stronger economic growth for the deficit-running country in the future.
The comparative financial statements of Stargel Inc. are as follows. The market price of Stargel common stock was $119.70 on December 31, 20Y2.Stargel Inc.Comparative Retained Earnings StatementFor the Years Ended December 31, 20Y2 and 20Y120Y2 20Y1Retained earnings, January 1 $5,375,000 $4,545,000Net income 900,000 925,000Total $6,275,000 $5,470,000Dividends: Preferred stock dividends $45,000 $45,000Common stock dividends 50,000 50,000Total dividends $95,000 $95,000Retained earnings, December 31$6,180,000$5,375,000 Stargel Inc. Comparative Income Statement For the Years Ended December 31, $6,180,000 $5,375,000Stargel Inc.Comparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y120Y2 20Y1Sales $10,000,000 $9,400,000Cost of goods sold 5,350,000 4,950,000Gross profit $4,650,000 $4,450,000Selling expenses $2,000,000 $1,880,000Administrative expenses 1,500,000 1,410,000Total operating expenses $3,500,000 $3,290,000Income from operations $1,150,000 $1,160,000Other revenue 150,000 140,000$1,300,000 $1,300,000Other expense (interest) 170,000 150,000Income before income tax $1,130,000 $1,150,000Income tax expense 230,000 225,000Net income $900,000 $925,000Stargel Inc.Comparative Balance SheetDecember 31, 20Y2 and 20Y1Dec. 31, 20Y2
Dec. 31, 20Y1Assets Current assets: Cash $500,000 $400,000Marketable securities 1,010,000 1,000,000Accounts receivable (net) 740,000 510,000Inventories 1,190,000 950,000Prepaid expenses 250,000 229,000Total current assets $3,690,000 $3,089,000Long-term investments 2,350,000 2,300,000Property, plant, and equipment (net) 3,740,000 3,366,000Total assets $9,780,000 $8,755,000Liabilities Current liabilities $900,000 $880,000Long-term liabilities: Mortgage note payable, 10% $200,000 $0Bonds payable, 10% 1,500,000 1,500,000Total long-term liabilities $1,700,000 $1,500,000Total liabilities $2,600,000 $2,380,000Stockholders' Equity Preferred $0.90 stock, $10 par $500,000 $500,000Common stock, $5 par 500,000 500,000Retained earnings 6,180,000 5,375,000Total stockholders' equity $7,180,000 $6,375,000Total liabilities and stockholders' equity $9,780,000 $8,755,000Required:Determine the following measures for 20Y2.Return on total assets %Return on stockholder's equity %Return on common stockholder's equity %
Gti two employees are paid weekly. As of the end if the year, two days salaries have accrued at the rate of 180 per day per per employee
The adjusting journal entry for GTI is as follows:
Adjusting Journal Entry:Date Account Titles Debit Credit
Dec. 31 Wages Expenses $720
Wages Payable $720
To accrue the two days' wages owed to two employees.What is an adjusting journal entry?An adjusting journal entry is a period-end journal entry to accrue expenses that have been incurred but not paid in cash.
Adjusting journal entries can also be used to record Depreciation Expenses, Earned and Unearned Revenues, Prepayments, and correction of accounting errors.
Transaction Analysis:Wages Expenses $720 Wages Payable $720
Two Employees' wages for two days = $720 (180 x 2 x 2)
Thus, the Wages Expenses account will be debited, while the Wages Payable account will be credited to show that GTI is owing two employee wages for 2 days.
Learn more about adjusting journal entries at https://brainly.com/question/13035559
#SPJ1
Question Completion:Prepare the adjusting journal entry to record the accrual.
How can buying a house be considered "good debt"?
Answer:
Answer below
Explanation:
Good debt is a loan used to finance an investment that offers a good return on the investment. An example of a good debt would be a mortgage to purchase a home. You borrow money from the bank to pay for a home that will hopefully increase in value over time. How Much Debt Is Good To Have? This question has a few layers to it.
A loan used to finance an investment that provides a strong return on the investment is referred to as good debt. A mortgage for the purpose of buying a home is an illustration of a positive debt. You take out a bank loan to buy a house, which you hope will appreciate in value over time.
What is “good debt”?Customers who purchase your services and then pay you back consistently and on time are said to have good debt.
Examples of acceptable debt include: the loan you have. In the hopes that your house would be worth more when your mortgage is paid off, you borrow money to purchase a home. The interest on mortgage debt may occasionally be deductible from your taxes.
Debt may be deemed "good" if it has the potential to considerably improve your life or raise your net worth. You might think of a mortgage or school loan as positive debt because it will help your long-term financial situation.
Thus, loan used to finance an investment that provides a strong return on the investment.
For more information about good debt, click here:
https://brainly.com/question/17364201
#SPJ2
If the effect of the debit portion of an adjusting entry is to increase the balance of an asset
account, which of the following describes the effect of the credit portion of the entry?
When the debit portion of an adjusting entry is used to increase the balance of an asset account, the credit portion of the entry will decrease the balance of another account, which will be either a liability account or an equity account.
What is the adjusting entry?Adjusting entries are journal entries that are made at the end of an accounting period to modify the accounts' balances. They are done to update and verify revenue and expense accounts' accuracy, as well as to adjust the balance sheet accounts for adjustments that have yet to be recorded.When should adjusting entries be made?Adjusting entries are typically made at the end of an accounting period. For example, adjusting entries may be needed if a company's insurance premiums have been paid in advance, or if a company has earned revenue but has not yet received payment.Adjusting entries are critical in determining the correct profit and loss as well as the balance sheet, which is why they must be accurate and complete.Adjusting entries are required for each financial statement's following types:Income Statement - revenue and expense accounts are adjusted.Balance Sheet - asset, liability, and equity accounts are adjusted.How are adjusting entries made?Adjusting entries are made with the following steps:Step 1: Determine the transaction or event that necessitates an adjustment. Step 2: Determine which accounts are affected by the transaction or event. Step 3: Decide whether each account is to be debited or credited. Step 4: Make the necessary adjusting journal entries.
For more question portion of an adjusting
https://brainly.com/question/14565649
#SPJ8
Question 1 Effects of transactions on the accounting equation DigiCom repairs laptops. Using the format provided below, show the effects of the activities listed in (a) through (i). (Enter all amounts as positive values.) a. Stacey Comeau, owner of DigiCom, invested cash of $44,000 into her business. b. DigiCom paid $5,500 to cover rent for the current month. c. DigiCom purchased supplies on credit; $2,300. d. DigiCom completed work for a client on credit; $6,400. e. DigiCom purchased a new piece of equipment by paying cash of $3,450. f. DigiCom hired a technician, to start next month, who will get paid $8,000 per month. g. DigiCom paid for the supplies purchased in (c). h. DigiCom performed work for a client and received cash of $6,400. i. DigiCom paid the administrative assistant's salary of $5,700.
The effects of the following activities on the accounting equation Assets = Liabilities + Owner's Equity
a.Stacey Comeau, the owner of DigiCom, invested cash of $44,000 into her business which increase assets (cash) and owner equity.
b. DigiCom paid $5,500 to cover rent for the current month which decreased assets.
c.DigiCom purchased supplies on credit; $2,300 which increase assets and liability as well.
d.DigiCom completed work for a client on credit; $6,400 which increase assets (accounts receivable)
e.DigiCom purchased a new piece of equipment by paying cash of $3,450 which increase assets (equipment) and decrease assets (cash)
f.DigiCom hired a technician, to start next month, who will get paid $8,000 per month - No effect on the accounting equation.
g.DigiCom paid for the supplies purchased in (c) which decrease assets and liability also.
h. DigiCom performed work for a client and received cash of $6,400 which increase assets (cash).
i. DigiCom paid the administrative assistant's salary of $5,700 which decrease assets (cash).
The overall effect on Assets:
Cash: $44,000 - $5,500 - $3,450 + $6,400 - $2,300 + $6,400 - $5,700 = $40,850
Supplies: $2,300
Equipment: $3,450
Accounts Receivable: $6,400
Liabilities:
Accounts Payable: $2,300 - $2,300 = $0
Owner's Equity:
Stacey Comeau's Capital: $44,000
The accounting equation, commonly referred to as the fundamental accounting equation or balance sheet equation, states that the total asset of a corporation equals the sum of its liabilities and shareholders' equity.
Learn more about accounting equations here:
https://brainly.com/question/28592096
#SPJ1
Look at the table income expenditure equilibrium. If the real GDP is 1000, then the
If the real GDP is 1000 then the planned investment spending will be 250 which is 1/4 of real GDP.
What is real GDP?
The total market value of all the goods and services sold within a nation's borders over a specific time span is known as the gross domestic product, or GDP. Services are measured by real Income. Real GDP is a macroeconomic metric that accounts for inflation and measures the value of the goods and services produced by an economy over a given time span. A measure of economic output known as real gross domestic product (GDP) takes inflation or deflation into consideration.
Know more about real GDP - brainly.com/question/30109038
#SPJ1
Property assessed for tax purpose at 50% of market value. The tax rate being $4.90 per $100 of assessed valuation. Today, the taxes, imposed at the same tax and assessment rates, have increased by $637. How much has the market value of the property increased assuming straight-line appreciation?
The market value of the property has increased by $26,000 assuming straight-line appreciation.
How did we get the value?First, we need to calculate the current assessed value of the property. If the property is assessed at 50% of its market value, then we can use the following formula:
Assessed Value = Market Value × 0.5
Let's assume the market value of the property is X, then its assessed value will be:
Assessed Value = X × 0.5 = 0.5X
Now, we can calculate the current property tax by using the following formula:
Current Property Tax = (Assessed Value ÷ 100) × Tax Rate
Substituting the given values, we get:
Current Property Tax = (0.5X ÷ 100) × $4.90 = $0.0245X
We know that the property tax has increased by $637. Therefore, we can set up the following equation:
New Property Tax - Current Property Tax = $637
Let's assume that the market value of the property has increased by Y. Then the new assessed value will be:
New Assessed Value = (X + Y) × 0.5 = 0.5(X + Y)
We can calculate the new property tax using the same formula as before:
New Property Tax = (0.5(X + Y) ÷ 100) × $4.90 = $0.0245(X + Y)
Substituting these values in the equation, we get:
$0.0245(X + Y) - $0.0245X = $637
Simplifying the equation, we get:
$0.0245Y = $637
Y = $637 ÷ $0.0245
Y = $26,000
Therefore, the market value of the property has increased by $26,000 assuming straight-line appreciation.
learn more about market value of a property:
https://brainly.com/question/14612966
#SPJ1
QUESTION 3
a) What are the similarities and differences between competitive firms and firms that
operate under imperfect competition?
b) How do you calculate the social welfare loss due to monopoly. Demonstrate your answer
using a well labelled diagram.
c) How does a monopolist generate more profits than that obtained under a uniform pricing
policy?
What is the Internal Revenue Code?
A.) a collection of tax laws, their interpretations, and federal tax rulings
B.) a list of tax brackets and the percentages each person must pay
C.) a book used solely by tax accountants to help people complete their filings
D.) a passcode that citizens must have to file their taxes online
Internal Revenue Code is collection of tax laws, their interpretations, and federal tax rulings.
Option A is the correct answer
What is internal revenue code?The Internal Revenue Code are set of laws and rules created to guide tax related matters
It was created by revenue service for the public on tax payment.
Therefore, Internal Revenue Code is the collection of tax laws, their interpretations, and federal tax rulings
Learn more on tax below
https://brainly.com/question/26316390
#SPJ9