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Aleks [24]
2 years ago
7

On may 31, 2022, hughes construction recorded $50,000 in bonds payable, $30,000 in notes payable, $9,000 in wages payable, $3,00

0 in accounts payable, and $1,450 in taxes payable. How are all of these accounts similar?.
Business
1 answer:
Andrej [43]2 years ago
7 0

All of them represent liabilities that must be paid back at some specified point in the future.

<h3>What are liabilities?</h3>

Liabilities are financial obligation of a company that results in the company's future sacrifices of economic benefits to other entities.

There are various reason why a company would incur liabilities:

  • Human error.
  • Environmental damage.
  • Defective product/work.
  • Natural hazards.

Hence, all of the above represent liabilities that must be paid back at some specified point in the future.

Learn more about liabilities here: brainly.com/question/2819860

You might be interested in
A stadium brings in $16.25 million per year. it pays football-related expenses of $13.5 million and stadium expenses of $2.7 mil
Gala2k [10]
<span>Answer: Profit margin is calculated as- Profit margin = Net profit / Revenue Net profit= Revenue- Cost Revenue = $16.25 million Cost = $13.5 million + $2.7 million Net profit = 16.25 million - (13.5 million + 2.7 million) Net profit = $0.05 million Profit margin = 0.05 / 16.25 Profit margin = 0.003077 or 0.3077%</span>
3 0
3 years ago
Williams &amp; Co. management is trying to decide the appropriate prices for various products sold by the firm. This is a focus
nikdorinn [45]

Answer:

A. Micro-economics

Explanation:

Micro-Economics represents a study of economic activiites or economic choices that affect individual businesses or organisations, individual consumers or individual families. Since the focus of Williams & Co is on determining appropriate prices for products sold in its individual firm, then the focus is micro-economics

Macro Economics represents the study of economic activities and choices but instead of the individual level, it studies these acivities at the overall national level or at the global level. So the study of pricing among the various detergent producing firms in the United States is under the purview of macro economics

Monetary policy focuses on the tools that are used to regulate the entire economy especially the Federal Reserve through the regulation of the activities of member financial institutions.

Fiscal Policy focuses on the activities of government to control its expenditure, tax rates and overall monitor or regulate the economy  

5 0
3 years ago
A storage tank acquired at the beginning of the fiscal year at a cost of $90,000 has an estimated residual value of $12,000 and
MrRa [10]

Answer:

The annual depreciation under straight line method is $3,120

And under double-declining method:

Year 1 = $7,200

Year 2= $6,624

Explanation:

Please find the attached for the calculations

7 0
3 years ago
In its most recent financial statements, Del-Castillo Inc. reported $55 million of net income and $840 million of retained earni
Mashcka [7]

Answer:

Difference in retained earnings

= $840,000,000- $825,000,000

= $15,000,000

Dividend paid = Net income - Difference in retained earnings

Dividend paid = $55,000,000 - $15,000,000

Dividend paid = $40,000,000

Explanation:

In this case, there is need to determine the difference in retained earnings, which equal retained earnings at the end minus retained earnings at the beginning.

Dividend paid is calculated as net income minus difference in retained earnings.

8 0
3 years ago
Aberwald Corporation expects to sell 90,000 bags of lawn fertilizer annually. The optimal safety stock (which is on hand initial
UNO [17]

Answer:

Annual demand (U) = 90.000 bags

Cost of each bag = $1.50

Inventory carrying cost per unit(C) = $1.50 × 20% = 0 30

Ordering cost per unit (O) = $15

Part A)

EOQ = \sqrt{\frac{2UO}{C}}

EOQ = \sqrt{\frac{2 * 90000 * 15}{0.30}}

EOQ = \sqrt{9000000}

EOQ = 3,000

Part B)

Maximum inventory = EOQ + Safety inventory on hand  

Maximum inventory = 3000 + 1000

Maximum inventory = 4.000

Part C)

Average inventory = Maximum inventory + Minimum or Safety /2

Average inventory = 4,000 + 1,000 / 2

Average inventory =2,500

Part D)

How often company order = Annual demand / EOQ

How often company order = 90,000 / 3.000

How often company order = 30

4 0
3 years ago
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