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2 years ago

When the owner took goods from the business for personal use we record it in

Business

2 answers:

KatRina [158]2 years ago

4 0

Answer:

C. General journal

Explanation:

As it relates both business and personal accounts, we record it in the general journal.

Sergio [31]2 years ago

3 0

C. General journal

The general journal refers to a book of original entries, in which accountants and bookkeepers record raw business transactions, in order according to the date events occur.

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the annual discount rate is 10% beginning in 2016, you will receive $10000 on the first day of every year. what is the resent va

-Dominant- [34]

Answer:

$100,000

Explanation:

Data provided

Perpetual cash flow = $10,000

Discount rate = 10%

According to the given situation, the computation of Present value of this inginite sequence of cash flow is shown below:-

Present value = Perpetual cash flow ÷ discount rate

= $10,000 ÷ 10%

= $10,000 ÷ 0.1

= $100,000

Therefore for computing the present value we simply applied the above formula.

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4 years ago

2. The Lorenz curve measures inequality in person income distribution. What is the difference between personal income distributi

Bogdan [553]

Answer: The answers are given below

Explanation:

Personal income distribution focuses on how income is being shared among the individuals in a nation while the functional income distribution has to do with the amount of income that is relative to the production factors

A progressive tax is a type of tax whereby the high income earners pay a larger percentage of their income than those that are from the low income groups while a proportional tax is a type of tax whereby everyone whether from high or low income group pays the same percentage as tax.

The problem of progressive taxation as a means to achieve greater equality in income distribution is that it encourages inequity. The aim of the progressive tax system is to bring about fairness whereby everyone in the economy will pay a fair share but the reality is that actually leads to many households paying more than the amount they should fairly pay while some pay close to nothing. It can also lead to the disincentive to work hard. When workers realize that a higher percentage of their income will be deducted as tax, they may reduce their commitment to work which lead to reduction in productivity.

3 0

4 years ago

Stimulus Industries Inc. has 2017 total current assets of $14,871,000. Last year the total current assets were equal to $12,46

lawyer [7]

Answer:

use; $2,409,000

Explanation:

Given that,

Total current assets in 2017 = $14,871,000

Total current assets in the last year = $12,462,000

Therefore, there is an increase in the total current assets which indicates that there is a use of cash.

Hence, the amount of cash used is calculated as follows:

= Total current assets in 2017 - Total current assets in the last year

= $14,871,000 - $12,462,000

= $2,409,000

5 0

3 years ago

Enterprise mashup technology does not provide a mechanism to easily customize and share knowledge throughout the company.

marin [14]

I think it’s true hope this help

7 0

3 years ago

Read 2 more answers

A company's past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, an

Ugo [173]

Answer:

Total cash collection= $368,800

Explanation:

Giving the following information:

A company's experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5% in the second month after the sale.

Credit sales:

January $320,000

February $176,000

March $500,000

Cash collection March:

Sales in account January= (320,000*0,05)= 16,000

Sales in account February= (176,000*0.30)= 52,800

Sales in account March= (500,000*0.6)= 300,000

Total cash collection= $368,800

8 0

3 years ago