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3 years ago

What are financial obligations or money that a business needs to pay others in the future called?

Business

1 answer:

garik1379 [7]3 years ago

6 0

Answer:

Liabilities

Explanation:

In economic terms, liabilities are the obligations that are to be paid by one authority to another in the future. They are owned by the company which is left to be settled in the future. The liabilities can be paid off through the means of money, goods, or services. They also include loans, revenues, and accrued expenses.

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Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions

liberstina [14]

Answer:

April 1 Invested $20,000 cash in her business.

Dr Cash 20,000

Cr Vera, Ernst, capital 20,000

1 Hired a secretary-receptionist at a salary of $700 per week payable monthly.

no journal entry required

2 Paid office rent for the month $1,500.

Dr Rent expense 1,500

Cr Cash 1,500

3 Purchased dental supplies on account from Dazzle Company $4,000.

Dr Supplies 4,000

Cr Accounts payable 4,000

10 Performed dental services and billed insurance companies $5,100.

Dr Accounts receivable 5,100

Cr Service revenue 5,100

11 Received $1,000 cash advance from Leah Mataruka for an implant.

Dr Cash 1,000

Cr Deferred revenue 1,000

20 Received $2,100 cash for services performed from Michael Santos.

Dr Cash 2,100

Cr Service revenue 2,100

30 Paid secretary-receptionist for the month $2,800.

Dr Wages expense 2,800

Cr Cash 2,800

30 Paid $2,600 to Dazzle for accounts payable due.

Dr Accounts payable 2,600

Cr Cash 2,600

6 0

3 years ago

Rhed Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day

REY [17]

Facility expenses in the flexible budget comes out to be $24,260.

<h3>What is flexible budged?</h3>

A flexible budget is one that is based on various sales volumes. For each projected level of production, the static budget is adjusted by a flexible budget. Due to this flexibility, management is able to predict how the budgeted figures will change as sales volume changes.

Calculation for the facility expenses in the flexible budget for December:

The table of the data used in budgeting: Fixed Element per Month Variable element per tenant-day Revenue is in attachment-

Facility expenses in the flexible budget = Variable + Fixed

= (3650*4.40) + 8200

= 16,060 + 8200

= 24,260

The wages and salaries in the planning budget for December would be closest to $24,260.

To know more about the flexible budget, here

brainly.com/question/25353134

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6 0

2 years ago

A stock currently sells for $25 per share and pays $0.24 per year in dividends. What is an investor's valuation of this stock if

asambeis [7]

Answer:

$26.30

Explanation:

Calculation to determine the investor's valuation of this stock

Using this formula

Investor's valuation of the stock = [Dividend / (1 + rate)] + [Selling price / (1 + rate)]

Let plug in the formula

Investor's valuation of the stock = [$0.24 / (1 + 0.15)] + [$30 / (1 + 0.15)]

Investor's valuation of the stock = $0.21 + $26.09

Investor's valuation of the stock = $26.30

Therefore the investor's valuation of this stock will be $26.30

6 0

3 years ago

DeWitt Industries has adopted the following production budget for the first 4 months of 2017. Month Units Month Units January 10

brilliants [131]

Answer:

DeWitt Industries

Materials Purchase Budget for the first quarter:

January February March

Ending inventory 1,648 1,038 824

Production

requirements 31,320 24,720 15,570

Beginning inventory 9,500 1,648 1,038

Purchases (pounds) 21,820 23,072 14,532

Explanation:

a) Data and Calculations:

Production Budget

Month Units

January 10,440

February 8,240

March 5,190

April 4,120

January February March April

Production Units 10,440 8,240 5,190 4,120

Production

requirements 31,320 24,720 15,570 12,360

Materials Purchase Budget

January February March April

Ending inventory 1,648 1,038 824

Production

requirements 31,320 24,720 15,570 12,360

Beginning inventory 9,500 1,648 1,038 824

Purchases (pounds) 21,820 23,072 14,532 11,536

4 0

3 years ago

Question 3: what is the total period cost for the month under variable costing?

lesantik [10]

beneath the variable costing technique, all promoting and administrative (constant and variable) fees and glued production overhead is taken into consideration as part of the total period fee. hence, the whole length cost for the month beneath variable costing is $344,000.

underneath variable costing, fixed production overhead is handled as a period price and is charged in complete towards the modern length's profits. 7-2 promoting and administrative charges are dealt with as duration costs underneath both variable costing and absorption costing.

General period expenses encompass any prices that aren't at once related to product production. prison expenses, income commissions, and office components are considered length expenses and have to be recorded as expenses on the balance sheet.

length prices are fees that can't be capitalized on a company's balance sheet. In different phrases, they're expensed in the period incurred and appear at the profits statement. duration fees are also known as length fees.

Learn more about variable costing here: brainly.com/question/6337340

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5 0

2 years ago