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1 year ago

How does taxation and legislation impact positively and negatively on outsurance

1 answer:

8 0

The positive impact is that when transaction is finished and paid it causes huge economic growth. Negative one is the decreasing of revenue that earns company in about 20-30%.

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The University of Nebraska found that when it lowered the price of season tickets for football from $350.00 to $300.00, ticket s

alisha [4.7K]

Answer:

Explanation:

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2 years ago

Relatives gave timothy $15, $50, $25, and $18 for his birthday. what is the mean amount of money relatives gave timothy for his

ycow [4]

I think that the mean amount of money is $27

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1 year ago

Read 2 more answers

e Arlington Motor Pool Internal Service Fund had the following transactions and events during January 2018. Using the "Additiona

Akimi4 [234]

Answer:

Journal Entries

1) Debit Salaries Expense $6,667 Credit Bank $6,667

2) Debit Fuel and Maintenance expense $600, Credit Bank $600

3) Debit Depreciation Expense $amount Credit Accumulated depreciation $amount

4) Debit Insurance Expense $amount Credit Bank $amount

5) Debit Benefit Expense $amount Credit Accrued Benefit Expense $amount

6) Debit Accounts Receivable ( total of all trips) $amount Credit Service Revenue $amount

Explanation:

The Question is incomplete but i will do the typical journal entries to the transactions without figures.

1) The salaries are for one month and in brackets there is a $80,000*1/12 calculation meaning the $80,000 is for the year, now if it was already recorded then we debit salaries payable $6,667 credit bank $6,667

4) Insurance expense is debited if it is paid as it is incurred but if it has an Prepaid insurance account then we credit the Prepaid insurance account instead of Bank.

4 0

1 year ago

Garcia Co. owns equipment that cost $76,800, with accumulated depreciation of $40,800. Garcia sells the equipment for cash. Reco

ZanzabumX [31]

Answer:

Debit Cash $47,000

Debit Accumulated depreciation account $40,800

Credit Gain on asset disposal $11,000

Credit Equipment asset $76,800

Debit Cash $36,000

Debit Accumulated depreciation account $40,800

Credit Equipment asset $76,800

Debit Cash $31,000

Debit Accumulated depreciation account $40,800

Debit Loss on asset disposal $5,000

Credit Equipment asset $76,800

Explanation:

To recognize gain or loss on the sale of the equipment:

First, the company calculates the carrying amount of the equipment by using the original cost of the asset, minus accumulated depreciation.

Then, subtract this carrying amount from the sale price of the equipment. If the remainder is positive, it is a gain and if the remainder is negative, it is a loss .

In Garcia Co., the carrying amount of the equipment = $76,800 - $40,800 = $36,000

1. Garcia sells the equipment for $47,000 cash

Sale price - Carrying amount of the equipment = $47,000 - $36,000 = $11,000>0

The company records gain by entry:

Debit Cash $47,000

Debit Accumulated depreciation account $40,800

Credit Gain on asset disposal $11,000

Credit Equipment asset $76,800

2. Garcia sells the equipment for $36,000 cash

Sale price - Carrying amount of the equipment = $36,000 - $36,000 = 0

The entry to record the sale:

Debit Cash $36,000

Debit Accumulated depreciation account $40,800

Credit Equipment asset $76,800

3. Garcia sells the equipment for $31,000 cash

Sale price - Carrying amount of the equipment = $31,000 - $36,000 = -$5,000 <0

The company records loss of the sales by entry:

Debit Cash $31,000

Debit Accumulated depreciation account $40,800

Debit Loss on asset disposal $5,000

Credit Equipment asset $76,800

8 0

2 years ago

A company's return on assets (ROA) can be disaggregated to reveal which of the following: (Select all that apply)

Alenkinab [10]

Answer:

b. Asset Turnover &

d. Profit margin.

Explanation:

Return on asset (ROA) simply shows a percentage of how profitable companies assets are in generating the revenue. It is calculated as:

$= \frac{Net income}{Total assets}$

However, if we further break it down, we can write it as follows:

$= \frac{Net income}{Sales} * \frac{Sales}{Total Assets}$

Both formulas Represent the same things.

But, the ratio of Net income to Sales is known as the Profit margin- A degree to which company makes money. Here, we can see how the ROA can be broken down in terms of profit margin.

Also, the ratio of Sales to Total asset is know as the Asset Turnover- a measure of company's use assets in generating the sales.

Hence, we can say that the ROA can be dis aggregated to reveal the Asset Turnover and the Profit margin.

8 0

2 years ago