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stich3 [128]
2 years ago
13

Eileen is setting up a company in QuickBooks Online and needs to fill in opening balances for vendors. What is the best way to r

ecord opening vendor balances and why?
Business
1 answer:
Vsevolod [243]2 years ago
6 0

The best ways is to fill in the opening balance in the vendor details dialogue box. This method is quick, and one may finish it when one create the vendor.

The Vendor Balance Summary report summarizes the company's obligations and overpayments to certain vendors. The overarching goal of this report is to identify accounting irregularities. View the Vendor Balance Detailed report for further information on the vendor's balance.

The following information is included in the report:

  • Vendor: Either the vendor indicated in the preceding filtering choices or all suppliers accessible to the firm.
  • Balance: The amount owed to a certain vendor or the credit/overpayment amount (marked with brackets).
  • Totals: The total amount owed or payed to the suppliers listed.

To learn more about opening balance of vendors click on :

"brainly.com/question/4688609"

#SPJ10

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Penny Francis inherited a​ $200,000 portfolio of investments from her grandparents when she turned 21 years of age. The portfoli
IceJOKER [234]

Answer:

the expected returns are missing, so I looked for a similar question:

Treasury bills  4.5%   $80,000

Ford (F) 8.0%   $60,000

Harley Davidson (HOG) 12.0%   $60,000

a) portfolio's expected return = (4.5% x $80,000) + (8% x $60,000) + (12% x $60,000) = $15,600

b) new portfolios expected return = (8% x $100,000) + (12% x $100,000) = $22,000

c) to lower risk. Treasury bills pay a low return but they are risk free investments. While stocks yield a higher return but they also carry a much higher risk.

3 0
3 years ago
A portfolio has three stocks 300 shares of Yahoo (YHOO), 300Shares of General Motors (GM),
andreev551 [17]

Answer:

c. 22.2%, 33.3%

Explanation:

Portfolio weight of each investment equals division of total value of each investment to total value of portfolio.

  • Portfolio weight of YHOO = (300×$20)/(300*$20 +300× $30 + 80×150)= 0.222= 22%
  • Portfolio weight of GM = (300×$30)/(300*$20 +300× $30 + 80×150)= 0.333= 33%
7 0
3 years ago
Concord Corporation had net sales of $2,409,400 and interest revenue of $38,100 during 2020. Expenses for 2020 were cost of good
andriy [413]

Answer:

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.  

The calculation is shown below:

= Net Sales + interest revenue- cost of good sold -  administrative expense - selling expenses - interest expense - income tax expense

where,  

Income tax expense = (Net Sales + interest revenue- cost of good sold -  administrative expense - selling expenses - interest expense) × income tax rate  

= ($2,409,400 + $38,100 - $1,463,800 - $222,000 - $286,700 - $48,900) × 30%

= $426,100 × 30%

= $127,830

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

4 0
4 years ago
Lucille is no longer eligible for her state Medicaid program and has lost her eligibility for the D-SNP in which she is enrolled
aniked [119]

Lucille will need to be responsible for all costs including premiums, copayments, and deductibles, among others.

This program requires cost sharing, matching, or leveraging as described under. Cost-sharing is needed for studies projects to be eligible for investment through HUD's non-competitive cooperative agreement authority.

Fee-sharing reduces charges (because it saves your medical insurance organization cash) in methods. First, you're paying a part of the invoice; since you're sharing the cost along with your coverage organization, they pay less.

Individuals and families with earning as much as 250 percent of the poverty line are eligible for cost-sharing discounts if they are eligible for a top-class tax credit and buy a silver plan thru the health insurance market in their nation.

Learn more about the responsibility for cost-sharing here: brainly.com/question/14868859

#SPJ4

3 0
2 years ago
5) A car rental company offers two plans for one way rentals. Plan I charges $36 per day and 17 cents per mile. Plan II charges
Rom4ik [11]

Answer:

a. Plan I is better is we drive 300 miles in a day.

b. 150 miles.

Explanation:

a. if mileage is 300 then rental charges will be,

Plan I : $36 + 17 cents * miles

$36 + 0.17 * 300 = $41.10.

Plan II : $24 + 25 cents * miles

$24 + 0.25 * 300 = $99.00

Plan I total cost for 300 miles is $41.10 whereas Plan II total cost for 300 miles is $99.00. Plan I is better plan and cost effective.

b. For mileage (m) calculation we will use equation;

Plan I = Plan II

$36 + 0.17m = $24 +0.25m

0.25m - 0.17m = $36 - $24

m = $12 / 0.08

m = 150 miles.

6 0
3 years ago
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