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2 years ago

Step 3: Creating a Balanced Family Budget

Business

1 answer:

Alexeev081 [22]2 years ago

3 0

The family budget calculator use is attached accordingly. See relevant definition below.

<h3>What is the minimum monthly income and hourly wage per worker required to cover the monthly expenses indicated in the budget?</h3>

The total budget indicated is $7,304. Hence to cover for the above expenses, one would need to work for at least 8 hours per day, and 5 days a week at the minimum income wage of $50 dollars/Hour.

This translates to:

50 x 8 x 20

= $8,000

<h3>What exactly is a family budget?</h3><h3 />

A family budget is a plan for your household's incoming and outgoing funds for a specific time period, such as a month or year.

<h3>What is the definition of a Family Budget Calculator?</h3>

The Family Budget Calculator calculates the amount of money required for a family to maintain a modest but decent level of life.

The budgets project community-specific expenses for ten different family types (one or two adults with zero to four children) across all counties and metro regions in the United States.

Learn more about Family Budget Calculator:

brainly.com/question/9621657

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Suppose you live in New York City and the government has imposed price ceilings on apartment rental rates. You want to rent an a

dimulka [17.4K]

Answer:

The correct answer is letter "C": a tie-in sale.

Explanation:

A tie-in sale is one where the purchase or rent of an object is only possible if another is also bought. Companies tend to use this practice to offer goods and services in bundles where all the products being sold are not necessarily of interest to the buyer but generates more profit or the seller.

6 0

3 years ago

Suppose DeGraw Corporation, a U.S. exporter, sold a solar heating station to a Japanese customer at a price of 130.5 million yen

myrzilka [38]

Answer:

$845,207.3

Explanation:

Calculation for what dollar amount would DeGraw actually receive after it exchanged yen for U.S. dollars

First step is to calculate the exchange rate of 1 yen for 140.0 yen per dollar and 154.4 yen

Exchange rate of 1 Yen = $1 /140

Exchange rate of 1 Yen= $0.007142858

Exchange rate of 1 Yen = $1 / 154.4

Exchange rate of 1 Yen= $0.006476684

Now since the price for the item bought was 130,500,000 Yen which means that the exchange rate for 1 Yen will be $0.006476684

Now let calculate the dollar amount

Dollar amount=(130,500,000 *$0.006476684) / 1

Dollar amount= $845,207.3

Therefore the dollar amount that DeGraw would actually receive after it exchanged yen for U.S. dollars is $845,207.3

7 0

3 years ago

On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 77,000 shares authori

Vikki [24]

Answer:

See the explanation below:

Explanation:

1. Prepare journal entries to record the following transactions for Sherman Systems

a. Purchased 5,500 shares of its own common stock at $30 per share on October 11.

<u>Details Dr ($) Cr ($) </u>

Treasury Stock (5,500 × 30) 165,000

Cash 165,000

<u><em>To record the repurchase of own common stock </em></u>

b. Sold 1,125 treasury shares on November 1 for $36 cash per share.

<u>Details Dr ($) Cr ($) </u>

Cash (1,125 × 36) 40,500

Treasury Stock (1,125 × 30) 33,750

Paid-in Capital from Sale of Treasury Stock 6,750

<em><u>To record the sale of treasury stock. </u></em>

c. Sold all remaining treasury shares on November 25 for $25 cash per share.

<u>Details Dr ($) Cr ($) </u>

Cash (4,375 × 25) 109,375

Paid-in Capital from Sale of Treasury Stock 6,750

Retained Earnings 15,125

Treasury Stock 99,000 (4,375 × 30) 131,250

<em><u> To record the sale of the remaining treasury shares </u></em>

Kindly note that there is a balance of $6,750 in the Treasury Stock Paid-in Capital account. Since it is utilized, the remaining deficit will show in Retained Earnings.

2. Prepare the stockholders' equity section after the October 11 treasury stock purchase.

<u>Details $ </u>

77,000 issued authorized common stock–$10 par value 770,000

Paid-in capital in excess of par value, common stock 241,000

Retained earnings 904,000

Treasury stock <u> (165,000)</u>

Total stockholders’ equity <u>1,750,000</u>

3 0

4 years ago

Sky Communications (SKY) usually sells a cell phone for $448 plus 12 months of cellular service for $672. SKY has a special, tim

jeka94

Explanation:

The Journal Entry from July 1 and July 31 is shown below:-

1. Cash Dr, $560

To Deferred revenue $560

(Being cash is received)

2. Deferred revenue $336

To Sales revenue $336

(Being 12 months sales service is recorded)

3. Cost of goods sold $280

To Inventory $280

(Being cost of goods sold is recorded)

4. Deferred revenue ($336 ÷ 12) $28

To Service revenue $28

(Being Deferred service revenue is recorded)

Working Note:-

Cellular service revenue = offer price ÷ total cost of phone and service × cellular service

= (($560 ÷ ($448 + $672)) × $672

= $336

3 0

3 years ago

You work as an assistant coach on the university basketball team and earn $13 per hour. One day, you decide to skip the hour-lon

Scrat [10]

Answer:

$22

Explanation:

The total cost of skipping practice and going to the carnival will be computed by adding the forfeited earnings from practice plus the carnival admission fee.

Total cost = $13 + $9 = $22.

Therefore, if the practice had not been skipped and the carnival not attended, $22 would have been saved.

6 0

3 years ago