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2 years ago

Your friend, Caitlyn, does not think it is important to review her monthly credit card statement. Instead, she just

Business

1 answer:

-Dominant- [34]2 years ago

8 0

Answer:

Your friend, Caitlyn, does not think it is important to review her monthly credit card statement. Instead, she just sets up an automatic minimum payment on the 18th of each month. Convince Caitlyn that this is a bad idea.

Caitlyn is working on her own reasoning which is not economical enough, when you make credit card statement review important. it would streamline spending as well as enables one to know where and what every penny is used for

Explanation:

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excerpts from hulkster company's december 31, 2021 and 2020, financial statements are presented below: 2021 2020 accounts receiv

elena-14-01-66 [18.8K]

Answer:

2.00 times

Explanation:

The computation of receivables turnover ratio is shown below:-

Receivable turnover ratio = Net Sales ÷ (Beginning receivables + Ending receivables) ÷ 2

= $212,000 ÷ ($60,000 + $46,000)

= $212,000 ÷ $106,000

= 2.00 times

Therefore, for computing the receivable turnover ratio of 2021 we simply applied the above formula and as per the question the option is not available.

3 0

2 years ago

A company issued 5-year, 7% bonds with a par value of $500,000. The market rate when the bonds were issued was 6.5%. The company

san4es73 [151]

Answer:

The correct answer is $17,000.

Explanation:

According to the scenario, the given data are as follows:

Bonds percent = 7%

Par value of bonds = $500,000

Market rate = 6.5%

Cash received = $505,000

So, we can calculate the amount of recorded interest for semiannual interest period by using following formula:

First we calculate the premium on bonds,

So, Premium on bonds = Cash received - Par value of bonds

= $505,000 - $500,000

= $5,000

So, straight line amortization = Premium on bonds ÷ years

= $5,000 ÷ 5

= $1,000

So, Amount of interest expense for first semiannual is as follows:

Amount of interest = ( Par value of bonds × Bonds percent ) ÷ 2 - (straight line amortization ÷ 2)

= ( $500,000 × 7% ) ÷ 2 - ( $1,000 ÷ 2 )

= $17,500 - $500

= $17,000.

4 0

2 years ago

Several years ago, Grant County was sued by a former County employee for wrongful discharge. Although it was to be contested by

vovangra [49]

Answer:

d) Debit Expenses $50,000 and Claims payable $100,000; Credit Cash $150,000.

Explanation:

As for the information provided,

There was this law suit against the company from past several years. Where the lawyers already estimated that liability on the company will arise amounting $100,000.

Thus, on the provisional basis such claims of $100,000 would have been provided ideally.

Now, after final judgement the court had cleared about the claim which is $150,000.

Thus, entry to record such claim of $150,000 will be:

Expenses A/c Dr. $50,000

Claims Payable A/c Dr. $100,000

To Cash A/c $150,000

7 0

2 years ago

Jack Simpson, contract negotiator for Nebula Airframe Company, is currently involved in bidding on a follow-up government contra

Schach [20]

Answer:

3,825.2 labor hours

Explanation:

Learning rate (Unit 1 and unit 2):

= Labor hour required for 2nd unit ÷ Labor hour required for 1st unit

= 1,200 ÷ 2,000

= 0.60

Learning rate (Unit 2 and unit 3):

= Labor hour required for 3rd unit ÷ Labor hour required for 2nd unit

= 1,130 ÷ 1,200

= 0.94

Average of learning rates = (0.60 + 0.94 ) ÷ 2

= 0.77

As per learning curve calculator the value of 77% for 6 units = 4.0776

Cumulative time = Factor × Time of first unit

= 4.0776 × 2,000

= 8,155.2

Hence,

Time for next three units:

= Cumulative time - Sum of the time of first, second and third unit

= 8,155.2 - (2,000 + 1,200 + 1,130)

= 3,825.2 labor hours should Simpson plan for.

4 0

2 years ago

Rita and Jose Hernandez want to assess their financial progress over the next few years. They have decided to take a reading of

Soloha48 [4]

Answer:

C. Balance sheet

Explanation:

If Rita and Jose want to assess their progress overtime and they want to read their status each year so, should prepare balance sheet for each year because balance sheet represent the organization's financial position. It tells us that what an organization had over the past years of business. All the income and losses of each year is accumulated in the balance sheet to show the net position at a point of time. Cash flow and federal income tax return are prepared to show the data specific period only.

8 0

2 years ago

Read 2 more answers