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11111nata11111 [884]
2 years ago
8

During February 2015 its first month of operations, the stockholders of Ariel Pink Enterprises invested cash of $50,000. Ariel h

ad cash revenues of $10,000 and paid expenses of $14,000. Assuming no other transactions impacted the cash account, what is the balance in Cash at February 28?
Business
1 answer:
aleksandrvk [35]2 years ago
4 0

Answer:

46,000 ending cash balance

Explanation:

50,000 Ariel Investment

+ 10,000 cash revenues

- 14,000 cash expenses

46,000 ending cash balance

(assuming no other transaction impacted the cash account)

When you are asked for a ending value, you should identify first, if there is a beginning value, something which start the balance of the account.

Like inventory in hand, supplies in hand, equipment, accounts payable

Then you have to figure out which trasnaction incresae the balance

and which decrease it.

<u>Finally you put them together:</u>

<em>beginning + increase - decrease = ending</em>

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Beacon Food Stores purchased canned goods at an invoice price of $4,000 and terms of 2/10, n/30. Half of the goods had been misl
seraphim [82]

Answer:

The amount paid should be $1,600

Explanation:

The terms of 2/10, n/30 means 2% discount for the payment within 10 days and the full amount to be paid within 30 days.

Beacon Food Stores purchased canned goods at an invoice price of $4,000. Half of the goods were returned immediately to the supplier.

The remaining amount of the invoice that Beacon Food needs to pay is $2,000

Beacon Food pays the remaining amount of the invoice within the discount period. The amount of discount the company is offered = $2,000 x 2% = $40

The amount paid = $2,000 - $40 = $1,600

4 0
2 years ago
You just opened a brokerage account, depositing $4,500. You expect the account to earn an interest rate of 8.57%. You also plan
Mariulka [41]

Answer:

$74108

Explanation:

Solution

Given that:

Deposit = $4,500

Interest rate =8.57%

Plan to deposit =$3000 at the end of 5 years through 1

n= 20 years

Now

We apply the formula given below:

A=P(1+r/100)^n

Here

A=future value

P=present value

r=rate of interest

n=time period.

Thus

=4500(1.0857)^20+3000(1.0857)^15+3000(1.0857)^14+3000(1.0857)^13+3000(1.0857)^12+3000(1.0857)^11+3000(1.0857)^10

=$74108

Therefore the account value at 20 years (ending) is $74108

5 0
2 years ago
Matt co. is the lessor in connection with an operating lease. matt co. would record:
V125BC [204]

Matt co. is the lessor in connection with an operating lease. matt co. would record a depreciation expense. The lessor records it as a depceciation expense becuase they are using a stright-line lease as a source of revenue. As the operation lease declines, it will keep showing as a depreciation on their balance sheets.

6 0
2 years ago
You may have all the skills required by the job, but if your social style rubs the interviewer the wrong way you are not getting
ollegr [7]

Answer:

The correct answer is Stay on topic with relevant examples of actions and results.

Explanation:

If you are in the hard work of looking for a job, you have to know that recruiters will ask you a series of questions in a job interview. With them, they will seek to cover the basic aspects of your professional profile, this before having a more detailed conversation. Recruiters often have a battery of questions they ask to have a first approach, if you answer correctly, fluently, attractively, seriously and with clear examples, they will probably take you to the next stage of the process. These are the nine questions in a job interview that you must master, as well as an answer guide for you to be as well prepared as possible and succeed.

7 0
2 years ago
Sarah is planning a party at a party hall. The meal option is $50 per person and includes the hall for free. The hall-only optio
Tomtit [17]

Answer:

meal option  is cheaper with total cost = $2000 and hall only option is total cost  $2700

Explanation:

given data

The meal option = $50 per person.

Hall free = $ 0 per person

total guest = 40

hall-only option = $1,500

external caterer = $30 per person

solution

when we go for meal option than hall free so total cost will be as

total cost = total guest  × $50 per person

total cost = 40 × $50

total cost = $2000

and

when we go for hall only option than total cost will be

total cost = total guest   × external caterer charge + hall-only option

total cost =  40  × $30 + $1500

total cost =   $2700

so

meal option  is cheaper with total cost = $2000 and hall only option is total cost  $2700

4 0
2 years ago
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