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3 years ago

A plastic card containing magnetic strips with data regarding the value of the card is typically known as ____________.

1 answer:

4 0

A plastic card containing magnetic strips with data regarding the value of the card is typically known as a smart card. It is a card which has a microprocessor that is built-in the system. It is typically being used for personal identification and for financial transactions. It is also called as an ICC or integrated circuit card.

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You invested a total of $8,400 in shares of the three stocks at the given prices, and expected to earn $248 in annual dividends.

Taya2010 [7]

Answer:

WSR's stock = 100

HCC's stock = 50

SNDK stock = 50

Explanation:

let W = WSR's stock

let H = HCC's stock

let S = SNDK stock

W + H +S = 200

16W + 56H + 80S = 8,400

(16 X 7%)W + (56 X 2%)H + (80 X 2%)S = 1.12W + 1.12H + 1.6S = 248

-1.12(W + H +S) = -1.12 x 200

-1.12W - 1.12H - 1.12S = -224

1.12W + 1.12H + 1.6S = 248

0.48S = 24

S = 24/0.48 = 50

W + H + S = W + H + 50 = 200

W + H = 150

16W + 56H + 80S = 16W + 56H + 4,000 =8,400

16W + 56H = 4,400

-16(W + H) = -16 X 150

-16W -16H = -2,400

16W + 56H = 4,400

40H = 2,000

H = 2,000 / 40 = 50

W + H +S = 200

W + 50 + 50 = 200

W + 100 = 200

W = 100

7 0

4 years ago

1. If Yak uses the percent of sales method, Bad Debt Expense on the October 2020 Income Statement will be:

tensa zangetsu [6.8K]

Answer:

1. $19,000

2. $16,000

3. $30,200

Explanation:

Complete question "The Accounts Receivable balance for Yak Corporation is $82,000 at October 31, 2020. Before calculating and recording October 2020 bad debt expense, the Allowance for Doubtful Accounts has a debit balance of $3,000. Sales for the month are $950,000. An aging of accounts receivable results in a $17,200 estimate for the Allowance for Doubtful Accounts as of October 31, 2020. In the past several years, 2% of sales have proven uncollectible.

1. If Yak uses the percent of sales method, Bad Debt Expense on the October 2020 Income Statement will be?

2. If Yak uses the percent of sales method, the Allowance for Doubtful Accounts reflected on the October 31, 2020 Balance Sheet will be?

3. If Yak uses the analysis of receivables method, Bad Debt Expense on the October 2020 Income Statement will be:

1. Bad debt expenses = Sales * 2% of sales have proven uncollectible

Bad debt expenses = $950,000 * 2%

Bad debt expenses = $19,000

2. Allowance for doubtful account balance = Bad debt - Beginning Debit balance

Allowance for doubtful account balance = $19,000 - $3,000

Allowance for doubtful account balance = $16,000

3. Bad debt expenses = Ending Doubtful Accounts balance - Beginning debit balance

Bad debt expenses = $17,200 + $3,000

Bad debt expenses = $30,200

7 0

3 years ago

In Chapter 7 bankruptcy a debtor

nalin [4]

Answer: A. is required to draw up a petition listing all assets and liabilities.

Explanation:

Bankruptcy simply refers to the legal whereby an economic entity is unable to repay their outstanding debts. In this case, the individual or business will need to sell its remaining assets in order to pay the liabilities.

Due to the above reason, then the debtor will be required by the government to list all of their assets and the liabilities that it owns and this will be used in determining whether the obligation has been fulfilled or not.

3 0

3 years ago

Consider a firm with only one variable input, labor. Firm output is zero when labor is zero. When the firm hires 6 workers the f

Charra [1.4K]

Answer:

$0.808

Explanation:

Given:

Number of workers hired = 6

Number of units to be produced = 90

Fixed cost of the product = $6 per unit

Variable cost = $10 per unit

Marginal product of the 7th unit of labor = 4

Now,

Total variable cost = Variable cost per unit labor × Total labor hired

The total variable cost = $10 × 7 = $70

Thus,

The total cost = Fixed cost + Total variable cost

The total cost = $6 + $70 = $76

Now,

the total units produced

= Unit produced by 6 labor + marginal product from seventh labor

The total units produced = 90 + 4 = 94

Hence,

the average variable cost of production when the firm hires 7 workers

= $\frac{\textup{Total cost of production}}{\textup{Total units produced}}$

= $\frac{76}{94}$

= $0.808

6 0

3 years ago

Read 2 more answers

On November 28, 2021, Shocker receives a $2,250 payment from a customer for services to be rendered evenly over the next three m

Daniel [21]

Answer:

Dec 31, 2021

DR Deferred Revenue ...................................................$750

CR Service Revenue ...............................................................$750

Working

Service provided at end of November so only one month left in the year. Revenue earned is;

= 2,250/ 3 months

= $750

Dec 31, 2021

DR Advertising Expense ..................................................$750

CR Prepaid Adevertising............................................................$750

Working

Advertising is for 3 months and only one month has elapsed;

= 2,250/ 3 months

= $750

Dec 31, 2021

DR Salaries Expense ............................................................$6,500

CR Salaries Payable...........................................................................$6,500

Dec 31, 2021

DR Interest Expense .............................................................. $1,650

CR Interest Payable...............................................................................$1,650

Working

9% is payable on the note for the year.

This figure will be apportioned monthly and since 4 months were left when it was signed, the interest will be for 4 months

= 55,000 * 9% * 4/12 months

= $1,650

7 0

3 years ago