Ask question

Ask question

All categories

2 years ago

5

How do you feel at the beginning of the game as the facts about your situation flash on the screen? Do you think you can live 30

days with $1,000 in savings

1 answer:

Alex73 [517]2 years ago

8 0

Answer:

If you use the money reasonably and wisely, Yes, I think you can live 30 days with 1000 dollars in savings.

You might be interested in

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

Riley is considering the purchase of 350 shares of the preferred stock of Marston Manufacturing Company. The stock carries a par

Furkat [3]

Answer:

The per-share value of Marston’s preferred stock should be $92

Explanation:

The computation of the per-share value of Marston’s preferred stock is shown below:

= (Annual Dividend rate) ÷ (yields generation) × 100

= (5.75%) ÷ (6.25%) × 100

= $92

We simply divide the Annual Dividend rate by the yields generation or we can say it is a required rate of return.

All other information which is given in the question is not relevant. Hence, ignored it

7 0

2 years ago

A 12-cylinder heavy-duty diesel engine will have a guaranteed residual value of $1,000 in five years. Today (year 0) the equi

zavuch27 [327]

Answer:

$650

Explanation:

Guaranteed Residual Value = FV = $1,000

Interest rate = r = 9% = 0.09

Number of years = n = 5 years

Using Following formula we can calculate today's worth of the engine.

Residual value after 5 years = Today's value x ( 1 + rate of interest )^number of years

FV = PV x ( 1 + r )^n

$1,000 = PV x ( 1 + 0.09 )^5

PV = $1,000 / ( 1.09 )^5

PV = $649.93

PV = $650 (rounded off to the nearest whole number)

5 0

2 years ago

Accompanying a bank statement for Marsh Land Properties is a credit memo for payment on a $15,000 one-year note receivable and $

SVETLANKA909090 [29]

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr 15,900

To Notes Receivable A/c $15,000

To Interest Revenue A/c $900

(Being cash is collected with respect of notes receivable and interest revenue)

For recording this transaction, we debited the cash account and credited the notes receivable and interest revenue account

4 0

2 years ago

Human Resource Consulting (HRC) surveyed a random sample of 60 Twin Cities construction companies to find information on the cos

Shkiper50 [21]

Answer:

a. Compute the standard error of the sample mean for HRC.

mean = 502
standard deviation = 100
sample size = 60
standard error = 100 / √60 = 12.9

b. What is the chance HRC finds a sample mean between $477 and $527?

P(477 ≤ X ≤ 527) = P(477 ≤ X - 502 ≤ 527 - 502)

= [(477 - 502) / 12.9] ≤ [(X - 502) / 12.9] ≤ [(527 - 502) / 12.9]

since (X - 502) / 12.9 = z, then

= -1.938 ≤ z ≤ 1.938

so P(477 ≤ X ≤ 527) = P(-1.938 ≤ z ≤ 0) + P(0 ≤ z ≤ 1.938)

z = 1.4662

P(477 ≤ X ≤ 527) = 0.4718 + 0.4718 = 0.9436

c. Calculate the likelihood that the sample mean is between $492 and $512.

P(492 ≤ X ≤ 512) = P(492 ≤ X - 502 ≤ 512 - 502)

= [(492 - 502) / 12.9] ≤ [(X - 502) / 12.9] ≤ [(512 - 502) / 12.9]

since (X - 502) / 12.9 = z, then

= -0.775 ≤ z ≤ 0.775

so P(477 ≤ X ≤ 527) = P(-0.775 ≤ z ≤ 0) + P(0 ≤ z ≤ 0.775)

z = 0.4906

P(477 ≤ X ≤ 527) = 0.2844 + 0.2844 = 0.5688

d. What is the probability the sample mean is greater than $550?

P(550 ≤ X) = P(550 - 502 ≤ X - 502)

= P(48/12.9 ≤ z)

= P(3.72 ≤ z)

= 0.5 - P(0 ≤ 3.72 ≤ z)

= 0.5 - 0.5 = 0

5 0

2 years ago