Currency is a medium of exchange for goods and services. Are Edubucks a form of currency?

Julie evaluated her spending and found that she was spending about $75 more per month on transportation than she has bodgeted Sh

o-na [289]

Answer:

Julie

The percent of her monthly income that will be budgeted for transportation is:

= 13%.

Explanation:

a) Data and Calculations:

Amount budgeted for transportation = $175

Amount being spent on transportation = $250

Total monthly income = $1,900

Percentage of monthly income that will be budgeted for transportation = $250/$1,900 * 100

= 13.16%

= 13.2%

= 13%

Percentage of monthly income earlier budgeted for transportation = 9% ($175/$1,900 * 100)

The additional spending on transportation represents 4% ($75/$1,900 * 100)

New percentage spending on transportation = 13% (9% + 4%)

6 0

2 years ago

During its first year of operations, Novak Corp. Had these transactions pertaining to its common stock. Jan. 10 Issued 26,000 sh

bonufazy [111]

The journal entries to record the common stock transactions under the two scenarios are as follows:

a) Assuming that the common stock has a par value of $4 per share:

Jan. 10 Debit Cash $104,000

Common Stock $104,000

July 1 Debit Cash $495,000

Common Stock $220,000

Additional Paid-in Capital $275,000

b) Assuming that the common stock is no-par with a stated value of $3 per share

Jan. 10 Cash $104,000 Common Stock $78,000 Additional Paid-in Capital $26,000

July 1 Cash $495,000 Common Stock $165,000 Additional Paid-in Capital $330,000

<h3>What is the difference between par value and stated value?</h3>

There is <u>no major difference</u> between the par value and the stated value of the common stock, except as follows.

While the stated value is assigned when there is no par value for accounting purposes, the par value is assigned when the shares are authorized for issuance.

The two function as the face value of the shares which can be compared to the market value to discover if there is additional paid-in capital or not.

<h3>Data and Calculations:</h3>

a) Jan. 10 Cash $104,000 Common Stock $104,000

July 1 Cash $495,000 Common Stock $220,000 Additional Paid-in Capital $275,000

b) Jan. 10 Cash $104,000 Common Stock $78,000 Additional Paid-in Capital $26,000

July 1 Cash $495,000 Common Stock $165,000 Additional Paid-in Capital $330,000

Learn more about recording stock issuance transactions at brainly.com/question/17201601

7 0

2 years ago

If a local diner can sell 50 burgers per day at a price of $5 each, but must reduce the menu price to $4.95 to sell one more bur

wolverine [178]

Answer:

$2.45

Explanation:

The formula to compute the marginal revenue is shown below:

Marginal revenue = Change in total revenue ÷ Change in number of quantity sold

where,

Change in total revenue would be

50 burgers × $5 = $250

51 burgers × $4.95 = $252.45

So, the change in total revenue is

= $252.45 - $250

= $2.45

And, the change in number of quantity sold is

= 51 burgers - 50 burgers

= 1

So, the marginal revenue is

= $2.45 ÷ 1

= $2.45

4 0

3 years ago

Clay’s Forging at Canal Fulton wants to determine its inventory management performance during its past year of operations. Refer

Tatiana [17]

Answer:

days on inventory 57 + collection cycle 163- payment cycle 63

CCCT = 157 days

Explanation:

The cash-to-cash measures the times from the company paid his good from the time it collect from the customer:

days inventory outstanding + collection cycle - payment cycle

<u>days inventory outstanding:</u>

$\frac{365}{Inventory TO} = $Days on Inventory$

Where:

$\frac{COGS}{Average Inventory} = $Inventory Turnover$

where:

$$$Average Inventory=(Beginning Inventory + Ending Inventory)/2$

COGS $ 1,790,000

Beginning Inventory: $ 273,000

Ending Inventory: $ 290,000

Average Inventory: $ 281,500

$\frac{1790000}{281500} = $Inventory Turnover$

Inventory TO 6.358792185

$\frac{365}{6.35879218472469} = $Days on Inventory$

Days on Inventory 57

<u>Collection cycle:</u>

$\frac{Sales}{Average AP} = $AP Turnover$

where:

$$$Average AP=(Beginning AP+ Ending AP)/2$

Purchases: 1,575,000

Beginning AP: 227,500

Ending AP: 316,200

Average AP: 271,850

$\frac{1575000}{271850} = $AP Turnover$

$\frac{365}{AP TO} = $payment cycle$

AP TO 5.793636196

payment cycle 63

<u>Collection cycle</u>

$\frac{Sales}{Average AR} = $AR Turnover$

Sales 102,000

Average AR 45,500

$\frac{102000}{45500} = $AR Turnover$

$\frac{365}{AR TO} = $collection cycle$

AR TO 2.241758242

$\frac{365}{2.24175824175824} = $collection cycle$

collection cycle 163

5 0

3 years ago

You are saving for retirement. To live comfortably, you decide you will need to save $ 1million by the time you are 65.Today is

kozerog [31]

Answer:

Monthly pay= 5344.67

Explanation:

Giving the following information:

To live comfortably, you decide you will need to save $ 1million by the time you are 65.

Today is your 29th birthday, and you decide to put the same amount into a savings account. If the interest rate is 8%.

How much must you set aside each year?

n= 36

i= 0.08

FV= 1,000,000

We need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

We need to isolate A (monthly pay):

A= (1000000*0.08)/(1.08^36-1)

A= 80000/14.96817184

A= 5344.67

8 0

3 years ago