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2 years ago

You need to decrease your spending to balance your budget. which budget category is simplest to target for spending cuts?

Business

1 answer:

monitta2 years ago

5 0

to spend less money The company has tried to cut costs in several areas.

<h3>What is money?</h3>

Money is any commodity or verifiable record that is widely accepted in a given country or socioeconomic environment as payment for products and services and repayment of debts, such as taxes.

Money is defined as any good that is widely utilized and accepted in transactions involving the exchange of goods and services from one person to another. Economists distinguish three sorts of money: commodity money, fiat money, and bank money. Commodity money is a good whose worth serves as money's value.

Money is derived from the Latin word moneta, which means "coin," via the French monnaie. The Latin name is thought to have originated from a Juno temple on Capitoline, one of Rome's seven hills.

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The following account balances were drawn from the financial statements of Grayson Company: Cash $ 5,000 Accounts payable $ 1,55

Anestetic [448]

Answer:

The balance of Common Stock for Grayson Company is $8,300

Explanation:

For computing the common stock value, first we have to compute the ending retained earning balance which is shown below

= Beginning retained earning balance + revenues - expenses

= $3,300 + $10,100 - $7,550

= $5,850

Thus, the ending balance is $5,850

Now by applying the accounting equation we can compute the common stock value

Accounting equation is equals to

Assets = Liabilities + Equity

where,

Assets = Cash + Accounts receivable + Land

= $5,000 + $2,100 + $8,600

= $15,700

Liabilities = Accounts payable = $1,550

And, Equity = Ending Retained earnings balance + common stock

= $5,850 + common stock

Now, apply the above accounting equation which is shown below:

$15,700 = $1,550 + $5,850 + common stock

$15,700 = $7,400 + common stock

So, common stock = $8,300

Hence, the balance of Common Stock for Grayson Company is $8,300

4 0

4 years ago

Showme Industries, a cash-basis business, records revenue when cash is collected. On September 1, 2014, Showme contracts with Ma

lana [24]

Answer:

Showme will increase net income by 15000.

Explanation:

The cash basis is a method of recording accounting transactions for revenue and expenses only when the corresponding cash is received or payments are made. Thus, you record revenue only when a customer pays for a billed product or service, and you record a payable only when it is paid by the company

Showme

Cash basis bussines

Services 15000

4 0

3 years ago

To make a decision resulting in good corporate citizenship, a business should evaluate the decision based on:

Sergio039 [100]

Answer:

All of them

Explanation:

When making decisions, a business should evaluate:

Legal implications of each decision : do our decisions comply with all applicable laws and regulation?
Public relations impact : how will the public feel about our decision?
Safety risks for consumers and employees: does it affect the safety and well being of our employees and customers?
Financial implications: does our decision benefit our business?

7 0

4 years ago

rex co. holds a 30% of the shares of stock in jones, inc. jones reported net income of $60,000 during the period. rex will repor

Citrus2011 [14]

If inc. jones reported net income of $60,000 during the period. rex will report its 30% of the earnings with a <u>credit</u> to earnings from equity method investment in the amount of <u>$18,000</u>.

<h3>Equity method investment</h3>

Since rex. co hold 30 percent of the shares of stock in jones inc which in turn means that jones will report 30% of the earning (net income) which is $18,000 calculated as (30%×$60,000).

The amount of the earnings which is $18,000 will be credited to earning from equity method investment.

Equity method investment=30%×$60,000

Equity method investment=$18,000 (credited)

Therefore If inc. jones reported net income of $60,000 during the period. rex will report its 30% of the earnings with a <u>credit</u> to earnings from equity method investment in the amount of <u>$18,000</u>.

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8 0

2 years ago

Fields Company purchased equipment on January 1 for $180,000. This system has a useful life of 8 years and a salvage value of $2

bonufazy [111]

Answer:

B. $24,000.

Explanation:

The computation of the depreciation per units under the units-of-production method is shown below:

= (Original cost - residual value) ÷ (estimated production units)

= ($180,000 - $20,000) ÷ (40,000 units)

= ($160,000) ÷ (40,000 units)

= $4 per unit

Now for the second year, it would be

= Production units in second year × depreciation per unit

= 6,000 units × $4

= $24,000

3 0

4 years ago