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3 years ago

8

Ashley received a scholarship to be used as follows:___________tuition $6,000; room and board $9,000; and books and laboratory s

upplies $2,000. Ashley is required to include only $9,000 in her gross income.A) TrueB) False

1 answer:

mojhsa [17]3 years ago

3 0

Answer:

A) True THE CORRECT ANSWER

Explanation:

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The 1997 a value of an object was $5000. In 2012 , it was worth $9500. The annual percent growth has been constant. What is the

Mamont248 [21]

Given:
1997 - 5,000
2012 - 9,500

9,500 - 5,000 = 4,500
2012 - 1997 = 15 years

(9,500/5,000)^1/15 - 1
1.9^1/15 - 1
1.043718 - 1 = 0.043718
0.043718 * 100% = 4.3718%

The answer is D.) 4.37%

4 0

3 years ago

Read 2 more answers

Land originally purchased for $28,390 is sold for $74,057 in cash. What is the effect of the sale on the accounting equation

Elodia [21]

There is no effect on the accounting equation.

<h3>What is accounting equation?</h3>

Accounting equation is the one which states that a company's total assets are equal to the sum of its liabilities and its shareholders' equity.

Assets = owner's equity + liability

The above means that land is not depreciated, therefore assets decrease (-land) but also increase (+cash).

The elements of accounting equation are :

Assets
Liabilities
Shareholders' equity.

Learn more about account equation here: brainly.com/question/24401217

8 0

2 years ago

Wanda is organizing an Employee Appreciation Day event and is soliciting vendors to provide food and drinks. There are 638 emplo

DedPeter [7]

In this case, Wanda can calculate the revenue for her Employee Appreciation Day event by using this formula:

revenue = [(number of employees of the company) + (½ x number of employee of the company)] x event price
x = [(638) + (319)] x 2
x = 952 x 2
x = $1,914

Thus, Wanda’s expected revenue is $1,914, assuming that half of the employees are married and will be attending the Employee Appreciation Day alongside their spouse.

6 0

3 years ago

A newspaper story on the effect of higher milk prices on the market for ice cream contained the following: "As a result [of the

antoniya [11.8K]

Answer:

The price elasticity of demand for icecream is -0.75, that means that is inelastic.

Explanation:

Price elasticity of demand measures the porcentage of the change in the demand when there is a change in the price. If the change in porcentage of the demand is less than the pocentage of change in the price we talk about inelastic demand. An increase in the price of inelastic goods will result in bigger revenues, as the porcentage in the drop of sales is less than the porcentage of increase in the price.

The formula is: % in change demand/% in change of price

-3%/4= -0.75

The minus symbol indicates that when the price rises the demand decrease.

4 0

3 years ago

Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches.

Stolb23 [73]

Answer:

Matching transactions to the journal in which they would be entered:

Transactions Journal Type

1. Recognized depreciation on the building General Journal

2. Journalized the adjusting entry for supplies

used during the period General Journal

3. Closed the revenue account at the end

of the period General Journal

4. Received cash from the bank in exchange

for a note payable Cash Receipts Journal

5. Withdrew cash for personal use (by owner) Cash Payments Journal

Explanation:

Revenue journal records revenue transactions.

Cash receipts journal records all cash receipts.

Purchases journal records all purchases on account.

Cash payments journal records all cash payments.

General journal is used for all transactions, especially those that cannot be recorded in any of the other specialized journals.

3 0

2 years ago