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2 years ago

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Devon had a starting balance of $54.00 in his savings passbook. He made these transactions: deposits of $54.87 and $86.35; withd

rawals of $45.00 and $27.50; interest $2.50. What is his final balance

1 answer:

Zielflug [23.3K]2 years ago

5 0

Answer:

$125.22

Explanation:

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Shaniqua s restaurant utilizes a contribution margin pricing system. She would like the selling price of a new menu item she is

Setler79 [48]

Answer:

Her kitchen Staff can spend up to $3.00 on product cost.

Explanation:

Selling price= $10.00

Margin= $4.00

Labor costs = $10.00*30% = $3.00

Selling Price = Contribition margin + Labor costs + Product Cost.

Isolating Product cost from the equation:

Product cost = Selling price - (Contribution margin + Labor costs)

Product cost = $ 10.00 - ($4.00 + $3.00)

Product cost = $ 10.00 - $7.00

Product cost = $ 3.00

The max. amount that kitchen staff can spend on product cost is: $ 3.00

7 0

2 years ago

On January 1, Wei company begins the accounting period with a $48,000 credit balance in Allowance for Doubtful Accounts. a.On Fe

11111nata11111 [884]

Answer:

a. journal entry to write off those two accounts

Bad Debts $10,400 (debit)

Oakley Co $2,700 (credit)

Brookes Co $7,700 (credit)

<em>Being write off of Oakley Co and Brookes Co</em>

b. entries to reinstate the account and record the cash received

Oakley Co $2,700 (debit)

Bad Debts $2,700 (credit)

<em>Being reinstatement of Oakley Co account</em>

Cash $2,700 (debit)

Oakley Co $2,700 (credit)

<em>Being record of the cash received</em>

Explanation:

a. journal entry to write off those two accounts

Recognize a Bad Debts expense and de-recognize the assets - Trade Receivables

b. entries to reinstate the account and record the cash received

Recognize the assets-Account Receivable and de-recognize the Bad Debt expense

Also, Recognize the Assets of Cash and De-recognize the Trade Receivables as a results of receipt of payment.

6 0

2 years ago

Read 2 more answers

Discuss what sources of factual information would be most beneficial for the following areas of practice:

schepotkina [342]

Answer:

The answer is stated below:

Explanation:

Sources of the factual information in the following areas of the practice are as:

a.

A practice of family law need or require a records of the marriage or a divorce, visitations created by court, child custody agreement and records of the adoption. The clients of the practice could be asked for the information.

b.

This practice of law dealt with the study of how the directors, stakeholders, shareholders, employees and the consumers interact with each other and with the environment. Under this practice, it looks for the records of the bank transaction.

c.

This law practice would benefit or provide advantage from the records of the medical, any statement of witness, records of disability and the records for the equipment maintenance if required.

d.

Under this practice, the statements of banks, real estate listing, IRS records and credit agencies would be advantageous sources of the information.

e.

Under this practice, it involve the powers of attorney, deeds documents, mortgages, grants, transfers and wills which are pertaining to bankruptcy.

7 0

2 years ago

You and two partners start a company. However, your partners play no role in running the company. You spend all your time managi

GalinKa [24]

Answer:

The correct answer is letter "D": Opportunity cost.

Explanation:

Opportunity cost is described as the return of the choice selected over the potential return that could have been obtained from the choice left behind. It represents the return of the option chosen compared to the choice forgone. Opportunity costs is also defined as the return of the best next available option.

4 0

2 years ago

Hankins, Inc., is considering a project that will result in initial aftertax cash savings of $6.3 million at the end of the firs

Marrrta [24]

Answer:

A. 12.3%

B. 68%

Explanation:

a.Calculation to determine the required return for the project

Required return=(0.62/1.62*5.7%)+(1/1.62*13.2%)+2%

Required return=0.022+0.081+2%

Required return=0.124*100

Required return=12.3%

Therefore the required return for the project will be 12.3%

b. Calculation to determine the maximum cost the company would be willing to pay for this project

Maximum cost =6.3/(12.3%-3%)

Maximum cost =6.3/9.3%

Maximum cost =0.67.7*100

Maximum cost =67.7%

Maximum cost=68% (Approximately)

Therefore the maximum cost the company would be willing to pay for this project will be 68%

8 0

2 years ago