All categories

2 years ago

Which of the following is an effective strategy for personal saving?

1 answer:

6 0

The statement that is an effective strategy for personal saving is; Save a certain percentage of each paycheck and deposit it directly in a savings account

<h3>What is personal saving?</h3>

Personal saving can be defined as the ability of a person to save their money. Saving this money will enables them to have something to fall back to incase of unforeseen or unexpected circumstance.

The effective strategy for personal saving a person is expected to follow is for the person to save a percentage of each of their salary or paycheck and deposit the money directly into their savings account.

Therefore the statement that is an effective strategy for personal saving is; Save a certain percentage of each paycheck and deposit it directly in a savings account

Learn more about personal saving here:brainly.com/question/15279000

#SPJ1

You might be interested in

A new car sells for $25,000. At the end of the season, the dealership advertises 10% off the retail price of the car. What is th

Zigmanuir [339]

Answer:

= $22,500

Explanation:

The current value of the car: $25,000

at the end of the season: less by ten per cent.

Calculating 10 per cent of $ 25,000.00

= 10/100x25,000= $ 2500 0r 0.1 x $ 25,000.00

new price =$ 25,000 -$ 2500= 22500

= $22,500

3 0

3 years ago

Colter Company prepares monthly cash budgets. Relevant data fromoperating budgets for 2017 are as follows:

larisa [96]

Answer:

1. Collections from customers for January $ 326,000

Collections from customers for February $ 372,000

2. Payments for purchases of Direct Materials - January $ 112,000

Payments for purchases of Direct materials - February $ 123,000

Explanation:

Computations for collections from customers

Collections for January

Collections from November sales

- 20 % ( second month of sales) $ 250,000 November sales

Collections from November sales 20 % * $ 250,000 $ 50,000

Collections from December sales

- 30 % ( first month after sales) $ 320,000

Collections from December sales 30 % * $ 320,000 $ 96,000

Collections from January sales

- 50 % ( month of sales) * $ 360,000 January sales

Collections from January sales 50 % * $ 360,000 $ 180,000

Total Collections for January $ 326,000

Collections for February

Collections from December sales

- 20 % ( second month after sales) $ 320,000

Collections from December sales 20 % * $ 320,000 $ 64,000

Collections from January sales

- 30 % ( first month of sales) * $ 360,000 January sales

Collections from January sales 30 % * $ 360,000 $ 108,000

Collections from February sales

- 50 % ( month of sales) * $ 400,000 ( February sales)

Collections from February sales 50 % * $ 400,000 $ 200,000

Total collections for February $ 372,000

Computations for payments for Direct material purchases

Payments for January

Payments for December purchases

- 40 % ( month after purchase) $ 100,000 (December purchase)

Payments for December purchases 40 % * $ 100,000 $ 40,000

Payments for January purchases

- 60 % ( month of purchase) $120,000

Payments for January purchases 60 % * $ 120,000 $ 72,000

Payments for January $ 112,000

Payments for February

Payments for January purchases

- 40 % ( month after purchase) $ 120,000 (January purchase)

Payments for January purchases 40 % * $ 120,000 $ 48,000

Payments for February purchases

- 60 % ( month of purchase) $125,000

Payments for February purchases 60 % * $ 125,000 $ 75,000

Payments for February $ 123,000

5 0

3 years ago

Santa Fe Company was started on January 1, Year 1, when it acquired $9,000 cash by issuing common stock. During Year 1, the comp

Nitella [24]

Answer:

All of the options are false.

Explanation:

The net income is an element that increases the owners' equity while dividend paid reduces it. Both are elements of the cash flows for operating and financing activities respectively.

Considering the information given;

Acquired $9,000 cash by issuing common stock - This is an inflow of cash and forms the owner's equity balance at the start of the year.

During Year 1, the company earned cash revenues of $4,500, paid cash expenses of $3,750 - These are elements of the income statement and will result in a net income of $500 ($4,500 - $3,750 - $250).

and paid a cash dividend of $250 - This is a reduction in the owner's equity and is a cash outflow.

Now a review of all the options;

a. The 2016 statement of cash flows would show net cash inflow from operating activities of $2,450. - Net cash flow from operating activities is $750 (($4,500 - $3,750). Hence this is false.

b. The 2016 income statement would show a net income of $1,300. - As shown in the consideration, this is false.

c. The 2016 statement of cash flows would show a net cash flow from financing activities of $9,700. - Net cash flow from financing is

= $9000 - $250 = $8750

d. The December 31, 2016 balance sheet would show total equity of $15,750 - Total equity

=$9000 + $4,500 - $3,750 - $250 = $9,500

Hence all of the options are false.

7 0

3 years ago

A produce distributor uses 776 packing crates a month, which it purchases at a cost of $9 each. The manager has assigned an annu

Westkost [7]

Answer:

$261.42

Explanation:

economic order quantity (EOQ) = √(2SD/H)

S = cost per order = $31

D = annual demand = 776 x 12 = 9,312

H = holding cost = $9 x 36% = $3.24

EOQ = √[(2 x $31 x 9,312) / $3.24] = √178,192.59 = 422.13 ≈ 422

total ordering and holding costs considering EOQ:

ordering costs = (9,312 / 422) x $31 = $684.06

holding costs = $3.24 x (422/2) = $683.64

total = $1,367.70

current costs:

ordering costs = $31 x 12 = $372

holding costs = $3.24 x (776/2) = $1,257.12

total = $1,629.12

annual savings = $1,629.12 - $1,367.70 = $261.42

3 0

3 years ago

Barbara desperately wants to be seen as professional by her coworkers. so, every morning before work, she carefully reviews her

sergey [27]

Barbara's behavior is trying to employ self fulfilling prophecy in which she tries fulfill her expectations in which she wants herself to be recognized by her co-workers as a professional. This usually happens with the person's beliefs or behavior that he or she is applying or the individual's way of doing, in hopes to make his or her beliefs to come true.

5 0

4 years ago

Read 2 more answers