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inessss [21]
1 year ago
13

Use the following information (presented in random order) to complete an Income Statement and Balance Sheet. The name of the bus

iness is Future Tech, and the accounting period is the month of March, 2021. You will need to calculate the Capital amount for owner R. Lee. Remember: Add dollar signs and underlines in the appropriate places on both statements.
(Do it in an income statement too please)

Business
1 answer:
fredd [130]1 year ago
4 0

The completion of the Income Statement and Balance Sheet for Future Tech. in the month of March 2021, is as follows:

Future Tech.

<h3>Income Statement</h3>

For the month ended March 31, 2021

Revenue:

Fees Earned               $4,500

Expenses:

Advertising    $800

Maintenance   790

Internet           600

Telephone      300   $2,490

Net income               $2,010

Future Tech.

<h3>Balance Sheet</h3>

As of March 31, 2021

<u>Assets</u>

Cash                              $600

Accounts Receivable   1,200

Supplies                          350

Office Equipment        3,400

Total assets              $5,550

<u>Liabilities and Equity</u>

Liabilities:

Accounts Payable       $250

Bank Loan                   1,800

Total liabilities         $2,050

Owner's equity       $3,500

Liabilities + Equity  $5,550

<h3>What is a balance sheet?</h3>

A balance sheet is a financial statement that shows the assets (what the entity owns) and the liabilities (what the entity owes outsiders) plus the equity (what the entity owes to the owner).

Thus, the capital amount for owner R. Lee is calculated to be <u>$3,500</u> ($5,550 - $2,050).

Learn more about preparing a balance sheet at brainly.com/question/1113933

#SPJ1

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meriva

Answer:

About being on time, this article reveals:

1. Endeavour to take a practice trip the same time you leave for work in order to know what time you will arrive at work.

2. In order not be in a hurry and anxious, endeavour to arrive 15 minutes earlier. Also, don't arrive too early in order not to affect others.

Explanation:

The article gives advice and caution on how to get to work on time. The article seem to center on some work ethics tips for the newly employed. It reveals how to get to work on time, preparing your clothes, checking your hygiene and preparing quality questions for your boss.

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3 years ago
"Tourism sector has become a good source of earning foreign currency in Nepal"Justify this statement with examples
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Explanation:

Tourism has become one of the main income sources for many developing countries like Nepal. Nepal has great potential to become a top destination for tourists as the nation is famous for its snowcapped mountains, abundant flora and fauna, exciting trekking routes and rich cultural and religious diversity.

5 0
2 years ago
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13. Assume that Cane’s customers would buy a maximum of 80,000 units of Alpha and 60,000 units of Beta. Also assume that the raw
timurjin [86]

Answer:

80000 unit of Alpha

Explanation:

This is a Limiting factor/resource constraint question. In certain situations entities suffer from shortage of necessary resources (e.g: shortage of material, labor hours, machine hours), in such circumstances entities strive to allocate the constraint resources to the production of those products which generate the highest contribution per limiting factor and help maximize total contribution. In this case the limiting factor for Cane is Raw material.

Lets suppose that each unit of <em>Alpha and Beta sell for $120 and $80</em> respectively and variable cost per unit of <em>Alpha and Beta is $69 and $20 </em>respectively. Each unit of <em>Alpha and Beta require 2 and 5 pounds</em> of raw material for production respectively.

Now that we have supposed the data we have to compute contribution per unit and then contribution per limiting factor and based on the ranking (i.e highest first) of contribution per limiting factor we decide which product should be given priority for resource allocation.

<em>Lets calculate contribution per unit.</em>

Alpha:

Contribution per unit= SP-VC

Where, SP stands for selling price and VC stands for variable cost.

CPU= 120-69

CPU=$51

Beta:

Contribution per unit= 80-40

CPU=$40

<em />

<em />

<em>Now, lets calculate contribution per limiting factor.</em>

Alpha:

CLF: $51÷2

CLF: $25.5        1st Rank

Beta:

CLF: $40÷5

CLF: $8              2nd Rank

So clearly Alpha has a greater contribution per limiting factor and it implies that Alpha will earn the highest contribution margin therefore Cane should produce and allocate resources to Alpha first and then Beta if there remains any?

Profit maximizing output:

It requires 2 pounds of raw material to produce one unit of Alpha (i.e 80000×2=160000) Therefore Cane should produce 80000 units of Alpha only in order to maximize its profits.

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3 years ago
You are thinking about the things that can go wrong on your trip home over the Thanksgiving break. You have booked a flight with
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Answer:

The probability of you making it home for the holidays is:

= 45%.

Explanation:

a) Data and Calculations:

Probability of Scareways flights being canceled = 38%

Probability of successfully traveling with Scareways = 62% (100 - 38%)

Probability of getting a seat in Walter's car = 72%

Therefore, the probability of making it home for the holidays = the combined probabilities (either Scareways flight or Walter's car)

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2 years ago
According to the expectations theory of the term structure the interest rate on long-term bonds will exceed the average of short
Fiesta28 [93]

Answer:

c. interest rates on bonds of different maturities move together over time.

Explanation:

"When riding the yield curve, an investor will purchase bonds with maturities longer than the investment horizon and sell them at the end of the investment horizon. This strategy is used in order to profit from the normal upward slope in the yield curve caused by liquidity preferences and from the greater price fluctuations that occur at longer maturities."

Reference: Chen, James. “Riding the Yield Curve.” Investopedia, Investopedia, 25 July 2019

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