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2 years ago

_____ percent of adults (age 25 to 65) are providing primary financial support for their grown children.

1 answer:

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. Nearly half (47%) of adults in their 40s and 50s have a parent age 65 or older and are either raising a young child or financially supporting a grown child (age 18 or older). And about one-in-seven middle-aged adults (15%) is providing financial support to both an aging parent and a child.

Not sure if this helps any

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Sam closed the doors to her home-based consulting company only two years after opening because she was tired of working 80-hour

blondinia [14]

Answer:

There is sacrifice to having your own business. Sam wasn't ready to invest the hours needed to make it on his own.

Explanation:

There are many advantages to opening a new business. When you are an entrepreneur it is easy to get lost in all the benefits and don't pay attention to many os its disadvantages.

A big disadvantage is that you are always at work, you are working everywhere at all times. There are no off days, if you’re not working, then you’re not earning. You don’t need to be engaged 24/7 to have a chance at success in the world of entrepreneurship, but you will be working a lot more often.

Most people who find success in the world of entrepreneurship are working longer, harder days than the average “traditional” employee. You do have some flexibility when putting in those hours, so you can structure medical appointments, school visits, and other family needs within your day. You do not have the luxury of cutting back on your hours most days.

There is sacrifice to having your own business. Sam wasn't ready to invest the hours needed to make it on his own.

3 0

2 years ago

3-30 Operating leverage. Cover Rugs is holding a 2-week carpet sale at Josh’s Club, a local warehouse store. Cover Rugs plans to

Leni [432]

Answer:

The step by step answer to your problem is given below:

Explanation:

1A) Break even point for option 1:

Sales- Variable cost= Fixed cost

Q* $950-Q*$760= $7410

Q*$190= $7410

Q=$7410/$190

Q= 39 carpets

1B) Breakeven point for Option 2

Sales- variable cost-rent cost= 0

Q*$950- $760*Q- (Q*950*10%)= 0

95Q= 0

Q= 0

2. At what level of revenues will Cover Rugs earn the same operating income under either option?

Operating income under Option 1 = $190Q - $7140

Operating income under Option 2 = $95Q

We have to find Q such that $190Q - $7140 = $95Q

Q=$7410/$95= 78 Carpets

Revenue= $950 x 78 = $74,100

For Q = 78 Carpets, operating income under both option 1 and 2 will be = $7410

a. For what range of unit sales will Cover Rugs prefer Option 1? b. For what range of unit sales will Cover Rugs prefer Option 2?

For Q > 78, say 79 carpets:

Option 1 gives operating income= (190*79) - 7410= $7600

Option 2 gives operating income= 95*79= $7505

So color rugs will prefer Option 1.

For Q < 78, say 77 carpets:

Option 1 gives operating income= (190*77) - 7410= $7220

Option 2 gives operating income= 95*77= $7315

So color rugs will prefer Option 2.

3. Calculate the degree of operating leverage at sales of 65 units for the two rental options.

Operating Leverage= $\frac{Contribution margin}{Operating Income}$

= Contribution margin per unit x Numbers of Carpet Sold= Contribution Margin

Under Option 1,

Contribution Margin per unit= $950-$760=$190,

Operating income= $190*65-$7410= $4940.

Degree of Operating Leverage= $\frac{190*65}{6175}$

=2.5

Under Option 2,

Contribution Margin per unit= $950-$760-$760-0.10*$950=$95,

Operating income= $95x65-$0= $6175.

$\frac{95*65}{6175}$

=1.0

4. Briefly explain and interpret your answer to requirement 3.

The degree of operating leverage helps managers calculate and anticipate the effects of fluctuations in sales on operating income. The calculation in requirement 3 show that when sales are 65 units, a % change in sales and contribution margin will result in 2.5 times that % change in operating income for option 1. But the same % change in Option 2 because there are no fix costs attached in option 2.

6 0

3 years ago

The management accountant for Giada's Book Store has prepared the following income statement for the most current year: Cookbook

mylen [45]

Answer:

the company would have reported loss

6 0

3 years ago

What is the effective annual rate (EAR)?

Musya8 [376]

Answer: The effective annual rate (EAR) is the interest rate that would earn the same interest with annual compounding.

The Effective Annual Rate (EAR) is know as the interest rate earned on a subject/asset or remunerated on a borrowing as a consequence of compounding interest over period of time.

The formula to compute effective annual rate is as follow:

$Effective Annual Rate = [1 + \frac{interest rate}{compounding periods}]^{time periods} - 1$

∴ Option (c) is correct.

7 0

2 years ago

Read 2 more answers

Transactions/events: 1. Acquired $25,000 from the issue of common stock. 2. Purchased $2,500 of supplies on account from the Gad

shepuryov [24]

Answer:

I guess that you need the journal entries:

1. Acquired $25,000 from the issue of common stock.

Dr Cash 25,000

Cr Common stock 25,000

2. Purchased $2,500 of supplies on account from the Gadget Supply Agency.

Dr Supplies 2,500

Cr Accounts payable 2,500

3. Performed security services at local sporting events during the year for $8,000 cash.

Dr Cash 8,000

Cr Service revenue 8,000

4. Paid salaries expense of $3,000 for the year.

Dr Salaries expense 3,000

Cr Cash 3,000

5. Purchased land, paying $10,000 cash.

Dr Land 10,000

Cr Cash 10,000

6. Paid utility expenses of $2,000 for the year.

Dr Utilities expense 2,000

Cr Cash 2,000

7. Paid a cash dividend of $1,500 to the shareholders.

Dr Dividends 1,500

Cr Cash 1,500

8. Found out from an appraiser that the market value of the land on 12/31 was $12,500.

NO JOURNAL ENTRY

7 0

3 years ago