On September 1, Emil Rovey purchased a vehicle for $33,000 with a residual value of $3,000. The estimated useful life is 6 years and the company uses the straight-line method. What is the depreciation expense for the year ended December 31
Answers
The depreciation expense for the year ended December 31 for the vehicle purchased by Emil Rovey is $1,666.67 using the straight-line method.
Using the straight-line depreciation method, we can calculate the depreciation expense for the year ended December 31 for the vehicle purchased by Emil Rovey.
First, let's find the depreciable amount:
Depreciable amount = Cost - Residual value
Depreciable amount = $33,000 - $3,000
Depreciable amount = $30,000
Now, let's calculate the annual depreciation:
Annual depreciation = Depreciable amount / Estimated useful life
Annual depreciation = $30,000 / 6 years
Annual depreciation = $5,000 per year
Since the vehicle was purchased on September 1, there are only 4 months (September, October, November, and December) in the year ended December 31 that need to be considered for depreciation expense.
Depreciation expense for the year ended December 31 = (Annual depreciation / 12 months) x 4 months
Depreciation expense = ($5,000 / 12) x 4
Depreciation expense = $1,666.67
So, the depreciation expense for the year ended December 31 for the vehicle purchased by Emil Rovey is $1,666.67 using the straight-line method.
Learn more about depreciation here
https://brainly.com/question/1203926
#SPJ11
Related Questions
Consider a risky portfolio. The end-of-year cash flow derived from the portfolio will be either $70,000 or $195,000, with equal probabilities of 0.5. The alternative riskless investment in T-bills pays 4%. a. If you require a risk premium of 8%, how much will you be willing to pay for the portfolio?
Answers
Answer: $118,304
Explanation:
Given the following:
End of year cashflow of portfolio is either :
$70000 or $195,000
Probability of either equals = 0.5
With a riskless investment in T-bills of 4% and a risk premium of 8%, then the expected rate of return = 12%
Therefore ;
Amount of portfolio × (1 + expected rate of return) = expected cashflow.
Expected cash flow = probability × end of year cashflow
Expected cashflow = (0.5 × 70000) + (0.5 × 195000)
= 35000 + 97500 = $132500
Therefore ;
Amount of portfolio × (1 + 0.12) = 132500
Amount of portfolio × 1.12 = 132500
Amount of portfolio = 132500/1.12
Amount of portfolio = $118,303. 57
=118,304
Fiscal policy to solve short-run economic problems supports the Keynesian notion of
A. there being no government role in the economy.
B. an active government role in the economy.
C. achieving a command and control economy.
D. the long-run nature of the economy.
Answers
B. an active government role in the economy.
Fiscal policy involves the use of government spending and taxation to influence the level of economic activity in the short run. This approach is based on the Keynesian theory that government intervention can help to stabilize the economy during periods of recession or inflation. This is because Keynesian economics believes that government intervention can help stabilize economic fluctuations in the short run.
Learn more about "Fiscal policy" at https://brainly.com/question/6583917
#SPJ11
Being financially responsible is no easy task for any age, but it is certainly the best choice for everyone to follow. One of the first steps to being responsible is to plan a budget for your income and spending This will help you learn to manage your money. Anyone can make a budget plan by listing all fixed expenses for the month, then determining variable expenses, and, finally, planning for miscellaneous expenses. You should know your income-to-debt ratio in order to determine how much money you actually have and how much money you actually spend. It is important to track your spending by making a list and then avoiding impulse purchases. Putting aside some money for savings for emergencies and future goals is crucial to being financially responsible
Another important goal is to use credit wisely and make all payments on time. When borrowing money, you should shop around for the best interest rates and choose wisely by reviewing all the terms and conditions of the loan or credit card. Remember to only charge and borrow what you can afford to repay, not what you are offered in a loan or credit limit. Always use discipline in your borrowing, and be committed to paying back your loans in a timely manner.
You can have control over your finances if you take the right steps. If you do get into trouble with managing your money, there are ways to take back control. There are people and resources to guide you in becoming financially responsible, even if you have made some poor decisions.
OBJECTIVES
Calculate credit card payments at various interest rates.
Identify the three Cs of creditworthiness.
Examine credit scores.
Develop plans for becoming financially responsible.
Compare renting to owning a home.
Before You Begin
Examine the Prompt
Many adults make poor choices about credit and financing. In order to understand smart choices and the results of poor choices, you will complete a research project comparing three people and their circumstances. You will identify, calculate, and project credit-card debt, payments, and mortgage rates. You will write a five hundred word essay comparing the three people, their particular circumstances, and your projected advice.
Directions
Meet Gary. He has a great credit score and little credit card debt, with only two cards and owing $2,000 on each with a 10% interest rate. He has been working at his current job for four years with a steady income.
Meet Greg. He has a good credit score and some credit card debt, with five cards owing $2,000 on each. He has reached the maximum limit on two of them, but one is late, regularly costing him additional late fees. All have a 12% interest rate. He has been working at his current job for a year.
Meet Bob. Meet Bob. He has a bad credit score and high credit-card debt, with seven cards, owing $4,000 on each. He has reached the maximum limit on five of them, but all are late each month, costing additional late fees. All have a 15% interest rate. He has had six jobs in the past two years but has been working at his current job for three months.
Part I.
Assign a credit rating number to each person.
Explain why each person has a certain credit rating.
How can each person improve or maintain that credit rating?
Estimate the monthly credit-card payments for each of these people.
How can each person become more responsible?
Write a plan of improvement for each person.
Part II.
Each person wants to buy a home. Why should each person buy and not rent? Find each one a $200,000 house to purchase, using a local real-estate listing. What would the interest rate be for each? What would the monthly mortgage payment be? Why is each a different amount?
Part III.
Summarize the results of your research, and explain why it is financially responsible to make wise choices, using these three people as examples.
Prompt
Write a five hundred word essay answering all the questions about the three scenarios. Be sure to discuss the creditworthiness of each person, as listed below.
the credit card problems and payments
the suggestions for having better credit
the mortgage and house choices for each
the final summary comparing each person's credit story
Rubric
Answers
Answer:
Jesus christ
Explanation:
That was the longest prompt ive ever read
Answer:
This is what I put
Gary: score of 650
Greg:440
Bob:220
Explanation:
To improve their credit score they would have to join a credit union , they help because they typically charge lower fees but if the credit score is too bad then even they wont help. First thing would be to pay all the bills on time.
If Gary payed off his debt in 12 months or 1 year he would have to pay a minimmum$352 a month for 12 months.
In order for Greg to pay off his he's going to have to pay 888 a month for 13 months in order to pay off his debt but then he a;;so has to pay off his late fees so probably around almost 2 years until he can start working on his credit.
Bob would probably have to pay 666 a month in his current situation for 5 years in order t pay off his debt but then he also has the late fees so maybe around 6-6.5 years until he can start building his credit.
so its best for all of them to get rid of all their credit cards but more than 2 is deadly they can work on paying stuff on time.
If they all wanted to buy a home it would be better than renting because at least they wouldn't have to pay every month for rent cost along with the debt they all already owe, but even buying a home is dangerous because if they cant buy it all at once they are in debt on paying for the house along with everything else they are in debt for.
They chose not to pay for everything they were in debt for already at the time the bills were due and because of that its going to cost more than before because the longer you wait the more you will owe, all because they hold off on their payments. hence why it's deadly because again the longer they wait the more money they have to give, leaving them in bad debt and no money to help pay their fees and bills.
Discussion Topic
In this unit, you learned about several documents that businesses commonly use. Why
are clarity and accuracy such important parts of writing reports, proposals, instructions,
policies, and contracts? What are some of the challenges of analyzing and interpreting
policies and contracts? Why?
Answers
Answer:
Clarity and accuracy are important parts of writing because it helps people understand what the writer is talking about. You don't want people to read your report or proposals and be confused.
Explanation:
Clarity and accuracy are important parts of writing because it helps people understand what the writer is talking about and makes for a more effective message. If the author didn’t use these things, clients and consumers could become confused about the message and meaning and the execution of whatever plan was intended. Some challenges of analyzing and interpreting policies and contracts are that everyone has their own way of looking at things and will place those opinions over whatever they are working through.
Why India is called a mixed economy Mcq?
Answers
India has followed both kinds of profitable systems, which are the Capitalist & Socialist frugality. So that is why India has been called the Mixed Economy
It is a mixed frugality because then both private and public sector co-occur and both work under the general guidance of profitable planning. Mixed economy is one in which both public and private enterprises live together, with some position of freedom to use capital for profit timber.
Still, government hindrance is anticipated to achieve social points. It is, still, concurrence of capitalism and illiberalism. Moment, India is considered a mixed frugality the private and public sectors co-occur and the country leverages transnational trade.
To learn more about mixed economy, visit here
https://brainly.com/question/28793850
#SPJ4
a well-developed budget can operate and enforce itself. true false
Answers
False. A well-developed budget is an important financial tool, but it cannot operate and enforce itself. It requires continuous monitoring, adjustment, and discipline from the individuals or organizations utilizing the budget to ensure its effectiveness.
While a well-developed budget can provide structure and guidance, it still requires monitoring and adjustments to ensure it is operating effectively. A budget is only as good as its implementation and requires ongoing evaluation and adjustment to ensure it is meeting goals and staying on track. This may involve identifying areas of overspending or underspending, reassessing priorities, and making necessary changes to ensure the budget remains effective. Therefore, a well-developed budget cannot simply operate and enforce itself without human intervention and oversight.
Learn more about the financial tool: https://brainly.com/question/30096191
#SPJ11
Name the four main functions of managing a successful business.
Answers
Answer:
Planning and Decision Making – – Determining Courses of Action,
Organizing – Coordinating Activities and Resources,
Leading – Managing, Motivating and Directing People,
Controlling – Monitoring and Evaluating activities.
What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.
Answers
Answer:
A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOUcongress can regulate interstate commerce under the commerce clause, was a ruling in which supreme court case?
Answers
The Court, in Wickard v. Filburn, that the Commerce Clause empowered Congress to regulate intrastate activities if this sort of activity, in aggregate, affects interstate commerce.
What is interstate commerce?One of the United States Constitution's enumerated powers is described in the Commerce Clause (Article I, Section 8, Clause 3). The United States Congress shall have the authority "to regulate Commerce with foreign Nations, and among the various States, and with the Indian Tribes," according to the clause. Each of these three areas of trade has often been discussed separately as a congressional power by courts and pundits. The names "Foreign Commerce Clause," "Interstate Commerce Clause," and "Indian Commerce Clause" are frequently used to refer to the different parts of the Commerce Clause. The scope of the powers given to Congress by the Commerce Clause is up for debate in the courts.
To know more about interstate commerce visit:
https://brainly.com/question/4656005
#SPJ4
Todd has hired an inverter to ensure that there is never a loss of power in his new factory. What would Todd pay as his cost of production for the inverter?
Answers
Answer:
Rent
Explanation:
As we know that cost of production is the cost that is incurred for producing the products and services. It involves land, labor, capital, etc. The organization should have to pay what the service they are taken for producing the specific quantity
The more the goods produced, the more is the cost of production. This shows that there is a direct relationship between both of them
hence, the rent should be the answer
What term describes information that is sent to recipients without their request via reports, e-mails, faxes, voice mails, and other means?
Answers
The term " Push Communication "describes the information that is sent to recipients without their request via reports, e-mails, faxes, voice mails, and other means.
What is the difference between pull and push communication?When an urgent reaction is not needed, push communication is appropriate. On receiving the message, the addressee does something, though. Informational communication is a type of pull communication. The message is communicated by the sender via websites, bulletins, etc.
In push communication, the sender pushes information in one direction to the receiver. The most frequent use of it is to provide expected, non-urgent information. Push communication is typically communicated in writing and does not require a prompt reaction from the recipient.
Learn more about Push Communication here:
https://brainly.com/question/13653950
#SPJ4
On average, for every $1.00 that is collected by the credit card companies in principal, how much is collected in interest and fees?
Answers
Answer:
On average for every $1.00, the credit companies collectection in total is 1.50.
Explanation:
On average for every $1.00, the credit companies collectection in total is 1.50.
When given an Income Statement, Balance Sheet, and Cash Flow Statement, how would you calculate the following in excel:
DuPont Analysis. Break down your company’s Return on Equity, ROE, into the 3-part DuPont Equation for each year. Comment on what factors caused changes in your company’s ROE over the time period.
Answers
To calculate the DuPont Analysis and break down a company's Return on Equity (ROE) into the three-part DuPont Equation in Excel, you need to analyze the company's Income Statement, Balance Sheet, and Cash Flow Statement. The three components of the DuPont Equation are Profit Margin, Asset Turnover, and Equity Multiplier. Analyzing changes in each component over time can help identify factors influencing the company's ROE.
To perform DuPont Analysis in Excel, follow these steps:
Retrieve the necessary financial statements, including the Income Statement, Balance Sheet, and Cash Flow Statement, for each year of analysis. Calculate the Profit Margin by dividing Net Income by Total Revenue. This ratio measures how efficiently the company generates profits from its sales.
Calculate the Asset Turnover by dividing Total Revenue by Average Total Assets. This ratio indicates how effectively the company utilizes its assets to generate sales. Calculate the Equity Multiplier by dividing Average Total Assets by Average Shareholders' Equity. This ratio shows the leverage or financial structure of the company.
Calculate the ROE by multiplying the Profit Margin, Asset Turnover, and Equity Multiplier. The formula for ROE is: ROE = Profit Margin x Asset Turnover x Equity Multiplier.
By analyzing changes in each component of the DuPont Equation over time, you can identify factors influencing the company's ROE. For example, an increase in Profit Margin may indicate improved cost management or pricing strategies. An increase in Asset Turnover may suggest increased efficiency in utilizing assets. Changes in the Equity Multiplier can be influenced by factors such as debt financing or stock buybacks.
In conclusion, DuPont Analysis allows for a comprehensive breakdown of a company's ROE by analyzing the Profit Margin, Asset Turnover, and Equity Multiplier. Examining changes in these components over time can provide insights into the factors impacting the company's ROE, including profitability, asset utilization, and financial leverage.
Learn more about DuPont Analysis here:
https://brainly.com/question/30403150
#SPJ11
i hate it when guys just take a knife to my heart...
Answers
same.......................
Explanation:
How do companies research potential new markets? Choose a global company who has a record of successful new market entry and explain why it has had this success, and consider also the reasons for any failures.
Answers
Explanation:
Companies search for potential new markets by collecting consumer data to understand their opinions, wants and needs, and then being able to enter a new market with a safe and effective strategy to generate profits and successes. Data collection occurs in the form of primary and secondary research. The primary research takes place directly with the consumer, it can be carried out in the form of focus groups, which is a direct analysis of the market demand researched by the consumer.
As for secondary research, information is received through third parties, such as online sites, trade associations, etc., which give an idea of market behavior.
IKEA in China is an example of a global company that entered a different market in the form of strategic adaptation to meet the needs of the Chinese, through ideas and concepts aimed at this public.
Statement-McMorrow &
3. Cash Flow
Daughter Ltd
From the following information relating to McMorrow & Daughter Ltd, prepare
a cash flow statement for the four months January to April. Opening cash on 1
January is €3,700. X
Estimated income
• Sales: January €12,800; February €14,100; March €13,900; April €18,750
. Government grant: February €3,000
Estimated expenditure
• Purchase of materials: January €12,000; February €14,000; March €11,300;
April €14,300
Rent and rates: €1,600 per month
• Wages: €1,500 per month
• Telephone: February €300; April €450
61.000 in March answer pls
Answers
The net cash inflow for the period was €12,100 and closing cash balance at the end of April was €15,800.
What is a cash balance?A cash balance refers to the amount of money that a person, organization, or entity has in their possession or available to them at a given time. This can include physical currency, such as bills and coins, as well as digital forms of payment, such as bank account balances or cryptocurrency holdings. Cash balances are important for financial planning and management, as they can be used to cover expenses, pay debts, invest in assets, or save for future goals. It is important to monitor cash balances regularly to ensure that there is enough liquidity to meet financial obligations and take advantage of investment opportunities. Balancing cash inflows and outflows is essential for maintaining financial stability and achieving long-term financial success.
Net Cash Inflow: €12,100
Closing Cash: €15,800
To learn more about cash balance, visit:
https://brainly.com/question/28873432
#SPJ1
Krishna is 56 years old; he has contributed to the CPP without interruption for over 30 years. While crossing the street, Krishna was struck by a bus and seriously injured. He is currently hospitalized and on life support and his doctors have informed Krishna's family that it is uncertain as to whether he will awaken from his coma. Assuming at the time of his accident, Krishna was entitled to a CPP retirement benefit of $660, the flat-rate disability amount is $496.36 per month and the maximum monthly disability benefit is $1362.30, how much of a disability benefit will Krishna receive under the CPP? a) 50 b) $865.94 C) $991.36 d) $1156.36
Answers
Option(A) is the correct answer. Krishna will receive a disability benefit of $660 under the CPP.
To determine the disability benefit that Krishna will receive under the CPP, we need to consider a few factors. First, let's calculate the disability benefit based on the provided information:
The flat-rate disability amount is $496.36 per month.
The maximum monthly disability benefit is $1362.30.
Krishna's entitlement to a CPP retirement benefit is $660 per month.
To calculate the disability benefit, we compare the retirement benefit to the flat-rate disability amount and the maximum monthly disability benefit:
The disability benefit will be the lesser of:
The retirement benefit ($660)The flat-rate disability amount ($496.36) plus the retirement benefit minus the flat-rate disability amount.Let's calculate the disability benefit based on the above formula:
Disability benefit = min(retirement benefit, flat-rate disability amount + retirement benefit - flat-rate disability amount)
= min($660, $496.36 + $660 - $496.36)
= min($660, $660)
= $660
Therefore, Krishna will receive a disability benefit of $660 under the CPP.
Option (a) 50, option (b) $865.94, option (c) $991.36, and option (d) $1156.36 are not correct based on the given information. The correct answer is that Krishna will receive a disability benefit of $660 under the CPP.
for similar questions on CPP.
https://brainly.com/question/30142401
#SPJ8
Krishna is 56 years old; he has contributed to the CPP without interruption for over 30 years. While crossing the street, Krishna was struck by a bus and seriously injured. He is currently hospitalized and on life support and his doctors have informed Krishna's family that it is uncertain as to whether he will awaken from his coma. Assuming at the time of his accident, Krishna was entitled to a CPP retirement benefit of $660, the flat-rate disability amount is $496.36 per month and the maximum monthly disability benefit is $1362.30, how much of a disability benefit will Krishna receive under the CPP? a) $660 b) $865.94 C) $991.36 d) $1156.36
Recently, Darlene has found that they have begun to reach market saturation. She is having trouble finding new customers. One solution would be to increase the company's reach, perhaps by opening up locations in other areas. However, she knows this will be expensive. After noticing that many of their customers are planning on expanding and purchasing bigger facilities, Darlene feels that the best option is to increase the company's
Answers
Answer: a. share of customer
Explanation:
Share of Customer refers to the proportion of the total amount that a company gets out of money that a customer will spend in a certain category.
In other words, a company that has a greater share of customer from a particular customer will see that customer spend more of their money on them.
Share of Customer is improved by excellent working relationships with customers such that they will be loyal to you. Darlene should therefore strive for this so that their customers who are planning on more expansion will keep coming back to Darlene's company and spending more and more on them.
Which of the following is an example of a soft skill?
A. Ability to use CSS spreadsheets
B. Ability to manage spreadsheets
C. Ability to work well with a project team
D. Ability to manipulate images using computer software
Answers
Answer:
Ability to work well with a project team
Explanation:
Should spreadsheets be used to maintain a checkbook?.
Answers
The above statement is correct because it maintains all the data collected and permits seeing the movement and growth of the data by automatically creating different types of charts to visualize the data.
What are spreadsheets?A spreadsheet is defined as an electronic record in which data is placed in the rows and columns of a facility and can be exploited and abused in arithmetic or calculations.
The above statement is correct that the spreadsheets be used to maintain a checkbook because it keeps the data organized and allows seeing the trends of the data by creating automatically the different types of the data.
Therefore, the above statement is true.
Learn more about the spreadsheets, refer to:
https://brainly.com/question/26079895
outline 2 advantages to H&H of using secondary market research
Answers
Explanation:
It provides quick information and factual background perspectives
It is less expensive and affordable
bond x is a premium bond making semiannual payments. the bond pays a coupon rate of 6.8 percent, has a ytm of 6.2 percent, and has 13 years to maturity. bond y is a discount bond making semiannual payments. this bond pays a coupon rate of 6.2 percent, has a ytm of 6.8 percent, and also has 13 years to maturity. the bonds have a par value of $1,000. what is the price of each bond today? if interest rates remain unchanged, what do you expect the price of these bonds to be one year from now? in three years? in eight years? in 12 years? in 13 years?
Answers
The price of Bond X today is $690.683 and Bond Y today is $603.504. If interest rates remain unchanged, the price of the bonds in the future will change based on their yield to maturity. The expected price of each bond at one year from now is $1,000.
To calculate the price of each bond today, we can use the present value formula for the bond's cash flows. The formula is:
Bond Price = \((C / (1 + r/n)^{(n*t)}) + (F / (1 + r/n)^{(n*t)})\)
Where:
C = Coupon payment
r = Yield to maturity (YTM)
n = Number of compounding periods per year (semiannual payments)
t = Number of years to maturity
F = Par value
For Bond X:
Coupon payment (C) = 6.8% * $1,000 / 2 = $34 (since it's a semiannual payment)
YTM (r) = 6.2% / 2 = 0.031
Number of compounding periods per year (n) = 2
Number of years to maturity (t) = 13
Par value (F) = $1,000
Plugging in these values into the formula:
Bond X Price = \((34 / (1 + 0.031)^{26}) + (1,000 / (1 + 0.031)^{26})\)
= 33.039 + 657.644
= $690.683
For Bond Y:
Coupon payment (C) = 6.2% * $1,000 / 2 = $31 (since it's a semiannual payment)
YTM (r) = 6.8% / 2 = 0.034
Number of compounding periods per year (n) = 2
Number of years to maturity (t) = 13
Par value (F) = $1,000
Plugging in these values into the formula:
Bond Y Price = \((31 / (1 + 0.034)^{26}) + (1,000 / (1 + 0.034)^{26})\)
= 28.902 + 574.602
= $603.504
If interest rates remain unchanged, the price of the bonds in the future will change based on their yield to maturity. Here's the expected price of each bond at different time periods:
1 year : The price of Bond X and Bond Y will approach their par value of $1,000 as they move closer to maturity.
In 3 years: The price of Bond X and Bond Y will still be slightly below their par value but higher than their current prices as they have a shorter time to maturity.
In 8 years: The price of Bond X and Bond Y will continue to increase and approach their par value as they have even less time to mature.
In 12 years:The price of Bond X and Bond Y will be even closer to their par value as they approach maturity.
In 13 years: The price of both bonds will reach their par value of $1,000 at maturity, assuming interest rates remain unchanged.
To know more about maturity, click here.
https://brainly.com/question/26376004
#SPJ4
Thinking about your office or college, what types of
information are conveyed through the grapevine? How
often is the information accurate?
Answers
Answer: I would experience a lot of cluster chains speaking on if someone was in trouble. An employee would be called to the back office if they were either in trouble or getting a promotion.
Explanation:
Is your name ariel? cus we mermaid for each other
Answers
Answer:
If I could rearrange the alphabet, I’d put ‘U’ and ‘I’ together.
Explanation:
good thing i got my library card, because im checking you out
If you were running a business, would you rather have a sole proprietorship or a partnership? Why?
Answers
Answer:
It Depends
Explanation: If you Have enough money Say if you have a 400,000$ Building you want to buy, you have to add other things on to If you are the only proprietor you make all the money but you have to buy all the inventory but if you have a partner the you can go in 50/50 or other and you both work together
Please help with economics will mark brainliest
Answers
Answer On 25, it is likely economic growth since both go up, however it might also be coming back from an recession, but i would go for economic growth first. On 24, I think it is no idle resources and using resources efficiently.
Explanation:
Suppose a customer at a restaurant is deciding whether or not to order dessert. Marginal thinking means that the customer should compare: Group of answer choices the additional benefit from the dessert with the additional cost of the dessert. the total benefit from the entire meal and dessert with the additional cost of the dessert. the total benefit from the entire meal and dessert with the total cost of the meal and dessert. the marginal benefit from the meal with the marginal cost of the dessert. PreviousNext
Answers
Answer:
the additional benefit from the dessert with the additional cost of the dessert.
Explanation:
According to economics, everyone should act by comparing the marginal benefits obtained by purchasing a good or service vs the marginal cost of obtaining this good or service.
In this case, the customer places a certain value on the utility received from consuming dessert, and if that value is equal or higher to the cost of the dessert, then the consumer will order and eat it. If the perceived value of the benefits received form consuming the dessert are lower than the cost of the dessert, then the consumer will not order it.
5. Based on information presented in the video, construct an argument that defends the idea that we should not lower taxes for the wealthiest Americans.
Answers
Answer:
We should not lower taxes for the wealthiest Americans because they own and run a lot of companies and businesses that we use. Lower income Americans want their leaders to understand or know what it’s like to be less wealthy so they’ll be more sympathetic towards lower income people and won’t do everything out of the want for more money. If they have to pay lower taxes, then that takes away from their ability to sympathize with lower income homes, and that would upset a lot of people.
seemore lens company (slc) sells contact lenses fob destination. for the year ended december 31, the company reported inventory of $79,000 and cost of goods sold of $438,000.
Answers
Journal Entries in order to correct the balances presently reported below.
Seemore Lens Company (SLC)
Particulars Inventory Cost of goods sold
For the year ended Reported
on December 31 $79,000 $438,000
a. Less: Lenses held on
consignment $13,000
b. Less: Office supplies $6,500
c. Add: Lenses in the
warehouse $9,500 $9,500
d. Less: Inventory which is damaged with
no scrap value $3,750
Balance $71,250 $440,500
So, in order to achieve the balance of the inventory we simply added the report ended on Dec 31 and lenses which is in the warehouse and deduct the lenses endured consignment.
Hence, the journal entries in order to correct the balances was presently reported.
The question is incomplete, the complete question is-
Seemore Lens Company (SLC) sells contact lenses FOB destination. For the year ended December 31, the company reported Inventory of $79,000 and Cost of Goods Sold of $438,000.
a) Included in the Inventory (and Accounts Payable) are $13,000 of lenses SLC is holding on the given consignment.
b) Included in SLC’s Inventory balance are $6,500 of office supplies held in SLC’s warehouse.
c) Excluded from the SLC’s Inventory balance is $9,500 of lenses in the warehouse, ready to send to customers on Jan 2. SLC reported these lenses as sold on December 31, at a price of $18,000.
d) Included in SLC’s Inventory balance are $3,750 of lenses that were damaged in December and will be scrapped in January, with zero realizable value.
Required: Prepare the table and show the balances presently reported for Inventory and Cost of Goods Sold, and then display the adjustment(s) needed to correctly account for each of items (a)-(d), and finally determining the appropriate Inventory and Cost of Goods Sold balances.
To learn more about the Journal entry here:
https://brainly.com/question/28390337
#SPJ1
True or false?
2 best friends are one mind in 2 bodies?
Answers
Answer:
True
Explanation:
because they are I hope its right
Answer:
well i would say true because friendship is a really strong thing
but then i don't really know