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abruzzese [7]
3 years ago
6

If your budget allowed you extra money for this month, would you choose to consume, invest, or save that money? Why? Be specific

!
Business
2 answers:
Anettt [7]3 years ago
8 0
I would save the money if something unexpected happens. <span />
ruslelena [56]3 years ago
3 0
Personally, I would choose to save that money. The reason why is you never know - maybe something bad is going to happen and you will need that extra cash. So instead of splurging it on material things, it's better to save it for a rainy day, in my opinion. Investing is not safe, given that you may lose a lot more than you invest. 
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At the end of May, the following adjustment data were assembled:A. Insurance expired during May is $275B. Supplies on hand on Ma
jasenka [17]

Answer and Explanation:

The journal entries are shown below:

a.  Insurance expense $275

             To Prepaid insurance $275

(Being the insurance expense is recorded)

b.  Supplies expense $785 ($1,500 - $715)

            To Supplies $785

(Being the supplies expense is recorded)

We assume the balance of supplies before adjustment is $1,500

c. Depreciation - office equipment $330

          To Accumulated depreciation $330

(Being the depreciation expense is recorded)

d. Salary Dr $325

        To Accrued salary $325

(Being the accrued salary is recorded)

e.  Rent expense $1,600

            To Prepaid rent $1,600

(Being the rent expense is recorded)

f. Unearned fees $790

           To Fees revenue $790

(Being the unearned fees is recorded)

We assume the balance of unearned fees before adjustment is $4,000

So, $790 is come from

= $4,000 - $3,210

= $790

3 0
3 years ago
The cost accountants at the Doering Company regressed total overhead costs and direct labor hours for the past 30-months and rep
taurus [48]

Answer:

The estimated overhead cost if 225 direct labor hours are expected to be used in the upcoming period is $9,882.11

Explanation:

In order to calculate the estimated overhead cost if 225 direct labor hours are expected to be used in the upcoming period we would have to make the following calculation:

Cost for 225 direct labor hours = Intercept + Slope*225

Cost for 225 direct labor hours=$596.36+ ($41.27*225)

Cost for 225 direct labor hours=$9,882.11

The estimated overhead cost if 225 direct labor hours are expected to be used in the upcoming period is $9,882.11

7 0
3 years ago
On november 1, 2018, the bagel factory signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued inter
Salsk061 [2.6K]

Answer:

A) debit interest expense, $1000

Explanation:

to determine the accrued interest expense = $100,000 x 6% x 2/12 = $1,000

the journal entry should be:

December 31, 2018, accrued interest expense on note payable:

Dr Interest expense 1,000

    Cr Accrued interest payable 1,000

Accrual accounting establishes that expenses must be recognize during the period that they occur regardless of when they are paid. So we must recognize 2 months worth of interest.

6 0
3 years ago
A company has the following balances on December 31, 2018, after year-end adjustments: Accounts Receivable = $62,500; Allowance
Dovator [93]

Answer:

the net realizable value of accounts receivable $56.300

Explanation:

To calculate the net realizable value of accounts receivable is necessary to deduct from Account Receivable the total credit amount of the Allowance for Uncollectible Accounts.

The Debit value of Accounts Receivable minus the credit balance of Allowance for Uncollectible Accounts gives the Net Value of Accounts receivables.

8 0
3 years ago
Rising peanut prices have forced peanut butter makers to raise the price of a jar of peanut butter from $2 to $3 per jar, causin
Vanyuwa [196]

Answer:

37.5%

Explanation:

The percentage change in the price of a jar of peanut butter, using the midpoint method, is:

P_B = \frac{3-2}{\frac{3+2}{2}}*100=40\%

The percentage change in sales of jelly is 15%.

The cross elasticity of demand between peanut butter and jelly is:

E = \frac{15\%}{40\%}*100\%\\E=37.5\%

The cross elasticity of demand is 37.5%

7 0
3 years ago
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