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3 years ago

Gambling is something you should only do if you have discretionary income?

2 answers:

5 0

A. True
Discretionary means money that you can use whenever you want so it has to be true because if it wasn't discretionary and you can't use it whenever you want then you'll be in debt because you have no way of paying if you lost

vichka [17]3 years ago

3 0

A. Its true NOT B but its not false.

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Charlie Chairs Inc., manufactures plastic moldings for car seats. Its costing system utilizes two cost categories, direct materi

UNO [17]

Answer:

Units transferred out = 760

Explanation:

If we assume that all units are completed in the order of arrival i.e (FIFO), then the units transferred out is the sum of the opening inventory and the units started and completed in the period. The units started and completed in the period is referred to fully-worked.

Fully worked is computed as the units started in the period less the closing inventory .

Fully- worked = 800 - 240 = 560

The units transferred out = opening inventory + Fully-worked

= 200 + 560 = 760

Units transferred out = 760

Note we assumed that the units of the inventory( started last period i.e January) would be worked on first in the month of February before any other units. So, it is assumed completed by the end of February

6 0

3 years ago

An asset was purchased for $ 26 comma 000 on January 1, 2019. The asset's estimated useful life was five years, and its resid

Zielflug [23.3K]

Answer:

Loss on disposal $1,800

Explanation:

Cost of Asset 26,000

Useful life 5years

Sale proceeds 19,000

Depreciation for the year=$26,000/5=$5,200

Written Down value(WDV)=$26,000-$5,200=$20,800

Loss on Disposal= Sale proceeds- WDV=$19,000-$20,800=$1,800

It is assumed that depreciation is fully charged for the year on asset.

5 0

3 years ago

You are set to receive an annual payment of $12,100 per year for the next 17 years. Assume the interest rate is 7 percent. How m

uranmaximum [27]

Answer:

The difference in value is worth $8,269 more in money.

Explanation:

Case 1. Payments are made at the end of each year

So here, we will use the annuity formula for computing the present value of payments that we are receiving at the end of each year.

Here

Annual Cash flow is $12,100

Interest Rate "r" is 7%

And

Number of Payments "n" will be 17

Present Value = Cash flow * [1 - 1 / (1+r)^n] / r

By putting values, we have:

Present Value = $12,100 * [1 - 1 / (1 + 7%)^17] / 7%

Present Value = $12,100 * 9.763223

Present Value = $118,135

Now

Cash 2. Payments are arising at the start of each year

Just like the case above, we will use the annuity formula for computing the present value of payments that we are receiving at the start of each year. The first payment will be at worth the same because it is received in today's price.

Present Value = Cash flow + Cash flow * [1 - 1 / (1+r)^n] / r

So by putting values, that were used in case 1, we have:

Present Value = $12,100 + $12,100 * (1 - (1/1.07)^16) / 0.07

Present Value = $12,100 + $12,100 * 9.446649

Present Value = $126,404

Difference in Present Value = PV of Case 1 - PV of Case 2

= $126,404 - $118,135 = $8,269

The difference in value is worth $8,269 more in money.

4 0

3 years ago

Information in the Financial Statements A financial statement is a summary of all the financial transactions that have occurred

4vir4ik [10]

Here's the remaining part of the question:

Please analyze and place each item in the appropriate financial statement to which it belongs;

Revenues, Long-term liabilities, Owner's equity, Insurance expense, Land, Patents, Costs of Goods Sold, Income tax, Advertising expense, Insurance expense, Net change in cash, Accounts Receivable

Explanation:

1. Balance Sheet: Note that this financial statement usually shows the asset and liabilities of the firm's account for a particular period of time. These items are found:

Owner's equity,
Patents,
Long-term liabilities
Accounts Receivable
Land

2. Income Statement: this financial statement is primarily focused on the revenues and expenses expenses of the firm. Items found includes;

Revenue,
Costs of Goods Sold,
Advertising expense,
Income tax,

Insurance expense,

3. Statement of cash flow

Net change in cash,

8 0

3 years ago

Income Statement Sections During the current year, David Corporation sold a segment of its business at a gain of $210,000. Until

Montano1993 [528]

Answer:

Answer is given below.

Explanation:

-Income from Continuing Operation 700000

-Discontinued Operations

-Loss from operations of 60000

discontinued segment (75000*80%)

-Gain on disposal of discontinued 168000 108000

segment (210000*80%)

-Net Income 808000

8 0

3 years ago