The projected cash disbursements for Whetzel Corporation for November is $1,090,000. This is calculated as follows: the beginning cash balance of $50,000 will be increased for the November cash collections of $1,000,000 and the cash borrowed of $70,000 (a cash inflow). This amount of total cash inflows would then be reduced by the total disbursements to get to the ending balance of $30,000. By subtracting the $30,000 ending balance from the above number we will get the total disbursements. See below:
$50,000+$1,000,000+$70,000=$1,120,000
$1,120,000-$30,000=$1,090,000
Check:
$50,000+$1,000,000+$70,000-$1,090,000=$30,000 (agrees to ending balance)
Answer:
A
Explanation:
A regressive tax is a tax system where the same tax rate is applied uniformly. As a result, those earning less income are taxed higher than those earning more income.
Sales tax is an example of a regressive tax.
If sales tax is 5%. Worker A earns $100 and worker B earns $1000. Both buy a good worth $50 before tax. the sales tax is worth $2.5.
The tax comprises $2,5 / 100 = 2.5% of worker A's income and $2,5 / $1000 = 0.025% of Worker B's income.
It can be seen that worker A who earns less income is taxed higher
Answer:
Note: after an online research I found the questions. Comparing the debt ratios and analyze the causes of change.
Explanation:
Athenia’s debt ratio in 2018 is 50 % ( 50/100)
Athenia ‘s debt raiot in 2023 is 45.8% ( 55/120)
During this period, Economy of Athenia has increased larger than the debt. Hence, debt to GDP ratio has declined.
thus, the ratios changed because the economy grew a higher than the national debt.
Answer:
b. an express contract.
Explanation:
Since Daisy signs on Capri's behalf, the contract is between Bo and Capri, not Daisy.
Since there is a lease, an actual signed document, the options of no contract and implied contract are discarded.
An express contract is written in an specific language with its terms stated expressly at the time of contract formation, and is made under a company seal. A simple contract doesn't require a seal.
The lease is signed under Capri Apartments' seal and thus is an express contract.
Answer:
Jan 7
Dr Cost of Good Sold 7,860
Cr Inventory 7,860
(to record the cost of good sold)
Dr Account Receivable 13,100
Cr Revenue 13,100
( to record revenue and receivable owed from Stewart)
Jan 13
Dr Sales Returns 2,620
Cr Account Receivable 2,620
(to record sales return from Stewart)
Dr Inventory 2,620
Cr Cost of good sold 2,620
(to record inventory returns and decrease in cost of good sold due to sales return from Stewart)
Jan 18
Dr Cash 10,480
Cr Account Receivable 10,480
( to record full collection from Stewart after 11 days)
* further working note on Jan 18 transaction: As Stewart had return $2,620 sales; the Receivable from Stewart is just $10,480 ( 13,100 - 2,620). Also, the term of receivable is 5/10, n/30; the repayment after 10 days received from Steward is not eligible for discount.
Explanation:
