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lana [24]
3 years ago
7

Naomi is preparing the company’s cash budget. when preparing the cash receipts section, she included cash sales, receipts of int

erest, receipts of dividends, and proceeds from planned sales of plant assets. what error did naomi make? will cash receipts be too high or too low as a result of this m
Business
1 answer:
sergij07 [2.7K]3 years ago
6 0

The error of Naomi is that she included the receipts of interest, receipts of dividends, and proceeds from planned sales of plant assets in the cash receipts section. This section would only include the cash sales and collection of accounts receivable with the forecasted sales per month of the company. As a result of this error, the cash receipts would be too high. 

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The following items were among those reported on Lee Co.'s Income Statement for the year ended December 31, 20x5:
coldgirl [10]

Answer:

C.  $410,000

Explanation:

Administrative and general expenses in Lee's multiple - step income statement is $410,000

i.e  the Legal and audit fees $170,000 and Rent for office space $240,000 which will amount to $410,000

Note:   General and Administrative expenses are incurred in the day-to-day operations of a business and are not  tied to a specific function or department within the  organisation.

4 0
2 years ago
Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (U
Andrew [12]

Answer:

Given that,

Taxable income = $75,000

Interest from an investment = $10,000

Using the U.S tax rate schedule in 2017

(a) Federal tax will he owe = $5,226.25 + 25% × ($75,000 - $37,950)

                                            = $5,226.25 +  $9262.5

                                            = $14,488.75

(b) Average\ Tax\ Rate = \frac{Total\ Tax}{Taxable\ Income}

    Average\ Tax\ Rate = \frac{14,488.75}{75,000}

                                             = 19.32%.

(c)Effective\ Tax\ Rate = \frac{Total\ Tax}{Total\ Income}

Effective\ Tax\ Rate = \frac{14,488.75}{75,000 + 10,000}

                                        = 17.05%          

(d) Chuck is currently in the 25 percent tax rate bracket.

His marginal tax rate on increases in income up to $16,900 and deductions from income up to $37,050 is 25 percent.                                                

6 0
2 years ago
Does supply curve shift to the left or right​
erastova [34]

Answer:

An increase in the change in supply shifts the supply curve to the right, while a decrease in the change in supply shifts the supply curve left....

8 0
3 years ago
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Andrei [34K]

If the new hires had not been adequately trained to make use of the system. This is an example of fundamental attribution bias.

<h3>What is fundamental attribution bias?</h3>

Fundamental attribution bias  can be defined as the way in which a person judge another person without considering the situation factors.

Based on the giveing scenario Paulina is using fundamental attribution bias on the new employ by ignoring the reason why the new hire did not use the company's expert software system.

Therefore this is an example of fundamental attribution bias.

Learn more about fundamental attribution bias here:brainly.com/question/17109470

8 0
1 year ago
The CAPM is a multi-period model that takes account of differences in securities' maturities, and it can be used to determine th
stich3 [128]

Answer:

B. False

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This model is used to examine securities and their given prices, haven stated the expected rate of return and cost of capital involved.

CAPM is used by investors to make wise decision before investing their funds in a particular security.

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