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2 years ago

Each person’s approach to personal money management should be exactly the same.

Business

2 answers:

Anna [14]2 years ago

7 0

The answer is Falseeee^^^^^

Mumz [18]2 years ago

5 0

Answer:

False

Explanation:

Everyone has different needs

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In each of the following cases, calculate the accounting break-even and the cash break-even points. Ignore any tax effects in ca

Sloan [31]

Answer:

Accounting Break-Even

Case 1 = $14,350 Case 2 = $8,485.71 Case 3 = $214.375

Cash Break-Even

Case 1 = $11,766.67 Case 2 = $1342.86 Case 3 = $168.75

Explanation:

According to the scenario, computation of the given data are as follow:-

Accounting Break-Even = (Fixed Cost + Depreciation Cost) ÷ (Price Unit -Variable Unit)

Case 1 - ($7,060,000 + $1,550,000) ÷ ($3075 - $2,475)

= $8,610,000 ÷ $600

= $14,350

Case 2 - ( $47,000 + $250,000) ÷ ($96 - $61)

= $297,000 ÷ 35 = $8,485.71

Case 3 - ($2,700 + $730) ÷ ($21 - $5)

= $3,430 ÷ $16 = $214.375

Cash Break Even = Fixed Cost ÷ (Price Unit - Variable Unit)

Case 1 - $7,060,000 ÷ ($3075 - $2,475)

= $7,060,000 ÷ $600

= $11,766.67

Case 2 - $47,000 ÷ ($96 - $61)

= $47,000 ÷ $35 = $1342.86

Case 3 - $2,700 ÷ ($21 - $5)

= $2,700 ÷ $16 = $168.75

6 0

2 years ago

Exquisite Jewelers is developing its annual financial statements for the current year. The following amounts were correct at Dec

Molodets [167]

Answer:

Complete balance sheet is given below. (Req A and B)

Asset ($)

Non-Current Asset

Investment in stock $36,000

Store equipment $67,000

Accumulated depreciation ($19,000)

Current Asset

Cash $58,000

Accounts Receivable $71,000

Merchandise inventory $154,000

Equipment held for disposal $9,000

Prepaid insurance $1,500

Total Asset $377,500

Liabilities

Non-Current Liabilities

Long-term note payable $42,000

Current Liabilities

Accounts payable $52,500

Income taxes payable $9,000

Total Liabilities $103,500

Equity

Common stock $100,000

Stock premium $10,000

Retained earnings $164,000

Total Equity $274,000

Grand total $377,500

Net book value of equipments is given below.

Store equipment $67,000

Accumulated depreciation ($19,000)

Net book Value $48,000

Net book value is the amount at which asset subject to depreciation is accounted into balance sheet. It is the value that shows future benifits that is to be derived from the asset.

5 0

2 years ago

The Baldwin Company has just purchased $40,900,000 of plant and equipment that has an estimated useful life of 15 years. The exp

Svet_ta [14]

Answer:

b. $4,908,000

Explanation:

According to the FASB GAAP, the straight line method is used in this given question which is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($40,900,000 - $4,090,000) ÷ (15 years)

= ($36,810,000) ÷ (15 years)

= $2,454,000

In this method, the depreciation is same for all the remaining useful life

For two years, the accumulated depreciation would be

= Annual year depreciation × number of years

= $2,454,000 × 2 years

= $4,908,000

7 0

2 years ago

Joslyn completed the lease term on her car and decided to turn the car in instead of purchasing it. upon inspection, the dealers

Fed [463]

Its the Lease Penalty

6 0

2 years ago

Read 2 more answers

On April 1, Robert LLC purchased two units of inventory, A and B. The cost of unit A was $650, and the cost of unit B was $625.

attashe74 [19]

Answer:

Debit : Cost of Goods Sold : $75

Credit : Inventory : $75

Explanation:

The lower-of-cost-or-market method is based on the conservative accounting theory. This is where company accounts are prepared with caution and verification. All losses are recorded as they are discovered whereas gains are recorded only after realised. In this case, there is a gain in Inventory A, hence it won’t be recorded as of yet. However, the value of Inventory B has reduced and this requires to be recorded.

The cost of Inventory B should be reduced to the lower net realizable value, hence it would be reduced by the difference : $625 - $550 = $75

Debit : Cost of Goods Sold : $75

Credit : Inventory : $75

3 0

2 years ago