Which cost is not relevant in making financial decisions?

The ledger of Mai Company includes the following accounts with normal balances: D. Mai, Capital $10,100; D. Mai, Withdrawals $1,

3241004551 [841]

Answer:

Dec. 31

Dr Service Revenue $24,000

Cr Income Summary $24,000

Dec. 31

Dr Income Summary $17,700

Cr Wages expense $13,900

Cr Rent expense $3,800

Dec. 31

Dr Income Summary $6,300

Cr Retained Earnings $6,300

Dec 31

Dr Services Revenue $1,350

Cr D. Mai, Withdrawals $1,350

Explanation:

Preparation of the necessary closing entries from the available information at December 31.

General Journal

Dec. 31

Dr Service Revenue $24,000

Cr Income Summary $24,000

Dec. 31

Dr Income Summary $17,700

($13,900+$3,800)

Cr Wages expense $13,900

Cr Rent expense $3,800

Dec. 31

Dr Income Summary $6,300

Cr Retained Earnings $6,300

($24,000-$17,700)

Dec 31

Dr Services Revenue $1,350

Cr D. Mai, Withdrawals $1,350

5 0

3 years ago

If Joey joins the military, he can learn different skills that could be useful in his later career.

ella [17]

Answer:

The answer is A. This statement is true.

4 0

3 years ago

Read 2 more answers

20. All banks are required to *

saveliy_v [14]

Answer:

B. maintain reserves

Explanation:

The Federal Reserve expects commercial banks to retain a percentage of customers' deposits in their custody at all times. The amount retained in custody is known as reserves. It means the banks cannot loan out that reserve amount. It should be kept in the bank's vaults or with the Federal Reserve.

The reserve caters to the regular and unexpected withdrawals. The Federal Reserve determines the percentage to be retained as reserves. The reserve requirement is also a monetary policy tool for the Federal Reserve.

4 0

3 years ago

Covered interest arbitrage involves both Group of answer choices the purchase of a domestic asset and a spot contract in the mar

shepuryov [24]

Answer:

the purchase of a foreign asset and a forward contract in the market for foreign exchange.

Explanation:

An arbitrage is a type of trade that is caused as a result of market inefficiency.

For example, if a stock is trading at $50 on the London Stock Exchange (LSE) while it is trading for $52 on the New York Stock Exchange (NYSE) at the same time. Philip buys the stock on the LSE and sells the same shares immediately on the NYSE and earns a profit of $2 per share, this is referred to as an arbitrage.

This ultimately implies that, arbitrage allows an individual to profit from the price difference between similar goods, commodity, securities or currency in different markets.

A covered interest arbitrage can be defined as trading strategy in which an investor minimizes his or her currency risk by using a forward contract to hedge against the interest rate difference between two countries i.e the exchange rate risk. Thus, it's considered to be the most common interest rate arbitrage around the world.

Hence, a covered interest arbitrage involves both the purchase of a foreign asset and a forward contract in the market for foreign exchange.

7 0

3 years ago

Are these true or false ????

Lemur [1.5K]

Answer:

10. true

11. false

12.false

13.true

14.false

15.false

5 0

3 years ago