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2 years ago

What are some tips for self-employed people to get one month ahead how to budget irregular income

1 answer:

3 0

Self-employment is an individual business or contract by a person. Some tips like a zero-based budgeting plan, no over-expenses, and saving can be used for budgeting.

<h3>What is budgeting?</h3>

Budgeting is the development of plans and strategies to save the funds and their employment in wise use. It can also be called a spending plan.

For a self-employed person to save money, they should use a zero-based budgeting strategy, not overspend in case of over-earning and save some amount of money every time by default.

Learn more about budgeting here:

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The environmental protection agency of a county would like to preserve a piece of land as a wilderness area. The current owner h

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Answer: The answer is given below

Explanation:

Here , we are going to apply the present value of annuty formula.

a. Social Opportunity cost = $1.1 Million

The Yearly cash flows = $110,000

Time (n) = 20 years

The Discount rate (R) = 4%

Net benefits= Present value of cash inflows - the intial socail opportnity cost

Net benefits= Yearly cash flow × (1 - 1/(1+R)^n) / R - 1100000

Net benefits = 110000 × (1 - 1/1.04^20)/0.04 - (1100000)

= $394936

b. We will use the formula for present value of an annuity with the growth rate in benefits as 2 percent.

Firstly, dg= (0.04 - 0.02)/ (1+0.02)

= 0.01961

PV(benefits) = [($110,000)÷ (1+0.02)][1-(1+dg)-20]/dg]

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3 years ago

During May, Carolan Corporation transferred $59,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of

dem82 [27]

Answer:

credit to Work in Process of $59,000.

Explanation:

Based on the information given the appropriate l journal entries to record these transactions would include a: CREDIT TO WORK IN PROCESS OF $59,000

Dr Finished goods $59,000

Cr Work in process $59,000

Dr Cost of goods sold $65,000

Cr Finished goods $65,000

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2 years ago

On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of $30 par common stock at $34,

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Answer:

Jan. 22

Dr Cash $7,140,000

Cr Common Stock $6,300,000

Cr Paid in capital in excess of par $840,000

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Dr Cash $180,000

Cr Preferred Stock $135,000

Cr Paid-In Capital in Excess of Par-Preferred $45,000

Explanation:

Preparation of the entries for January 22 and February 27.

Jan. 22

Dr Cash $7,140,000

(210,000*$34)

Cr Common Stock $6,300,000

(210,000*$30)

Cr Paid in capital in excess of par $840,000

($7,140,000-$6,300,000)

Feb. 27

Dr Cash $180,000

(15,000*$12)

Cr Preferred Stock $135,000

(15,000*$9)

Cr Paid-In Capital in Excess of Par-Preferred $45,000

($180,000-$135,000)

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3 years ago

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Answer the following questions using the information below: Cannady produces six products. Under their traditional cost system u

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Answer:

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Explanation:

A cost driver can be described as the unit of an activity or any factor that makes the cost of an activity to fluctuate. An estimated cost driver is adequate and of the expected quality when quality or quantity is satisfactory or acceptable.

Therefore, given this change in the cost, the adequacy and quality of the estimated cost drivers and costs used by the system will determine the costing results for SR6 under the new system.

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3 years ago