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TEA [102]
3 years ago
10

Jeff cannot find any of his receipts for entering into his budget. In addition, he cannot find any of his bank statements. What

should Jeff do?
1.) Go back to each store to collect the receipts.
2.) Get organized by purchasing some file folders and filing his paperwork.
3.) Spend less money so he doesn’t have so many receipts.
4.)Pay for everything on a credit card so he can track his spending from his credit card statement.
Business
1 answer:
GarryVolchara [31]3 years ago
7 0
Number 2 would be best answer
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Hannah Roberts owns and operates Hannah's Pool Service Company. On January 1, Hannah Roberts, Capital had a balance of $309,170.
Delicious77 [7]

Answer:

                  Hannah's Pool Service Company

Statement of owner equity for the year ended December 31

               Particulars                                Amount

Capital (January 1)                                              $309,170

Investment during the year       $22,040

Net Income                                 $55,080

Withdrawals during the year     (-<u>$39,010</u>)

Increase in the owner equity                              <u>$38,110</u>

Capital (December 31)                                       <u>$347.280</u>

<u>Workings</u>

a. Increase in the owner equity = Investment during the year + Net income - withdrawal during the year

=$22040+$55080 -$39010

=$38110

b. Capital (December 31) = Capital on January 1 + Increase in owner equity

=$309170 +$38110

=$347280

8 0
3 years ago
Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries,
ale4655 [162]

Answer:

I will use the 2020 tax schedule since recovery rebate credit applies to 2020:

Marc and Michelle's gross income = Marc's and Michelle's salaries + interest from corporate bonds = $64,000 + $12,000 + $500 = $76,500

they should choose the standard deduction since it is higher than their itemized deductions = ($24,400)

contribution to IRA = ($2,500)

alimony payment = ($1,500) the divorce agreement was settled on 2005

Marc and Michelle's taxable income = $48,100

Marc and Michelle's tax liability = $1,975 + [12% x ($48,100 - $19,750)] = $5,377

Interests on municipal bonds is not taxable.

The amount of taxes that they owe = $5,377 - $3,500 (federal tax withholdings) = $1,877

Refundable tax credits:

$2,000 in child tax credit

$2,900 in recovery rebate credit

total = $4,900

taxes payable or refund = tax liability - refundable tax credits = $1,877 - $4,900 = -$3,023.

Marc and Michelle should get a refund for $3,023

4 0
2 years ago
Fooling Company has a callable bond outstanding with a coupon of 10.4 percent, 25 years to maturity, call protection for the nex
erastovalidia [21]

Answer:

The yield to call for this bond is 9.30%

Explanation:

Yield to call

The rate of return bondholders receives on a callable bond until the call date is called Yield to call.

Now use the following formula to calculate the Yield to call

Yield to Call = [ C + ( F - P ) / n ] / [ ( F + P ) / 2 ]

Where

F = Face value = $1,000 ( Assumed )

C = Coupon Payment = Face value x Coupon rate = $1,000 x 10.4% = $104

P = Call price of the bond = Face value + Call Premium = $1,000 + $75 = $1,075

n = Numbers of years to call = 10 years

Placing vlaues in the formula

Yield to Call = [ $104 + ( $1,000 - $1,075 ) / 10 years ] / [ ( $1,000 + $1,075 ) / 2 ]

Yield to Call = 0.0930

Yield to Call = 9.30%

8 0
3 years ago
It is possible to use a decision making process for any decision.
loris [4]
I think so, but there may be some exceptions--if any.
6 0
3 years ago
Read 2 more answers
At December 31, Amy Jo's Appliances had account balances in Accounts Receivable of $302,000 and in Allowance for Uncollectible A
marin [14]

Answer:

$5,230

Explanation:

Account receivable balance = $310,000

Credit balance in allowance for uncollectible accounts = $970

Given percentage = 2%

So by considering the above information, the bad debt expense is

= Account receivable balance × given percentage - credit balance in allowance for uncollectible accounts

= $310,000 × 2% - $970

= $6,200 - $970

= $5,230

7 0
2 years ago
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