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3 years ago

Why is it important to prioritize a list of financial goals?

1 answer:

6 0

It’s important for your future. So you won’t be some kind of debts. It’s always better to plan rather than doing things last minute.

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A gift shop ended the year with a balance of $20,000 in the Merchandise Inventory account. A physical count of the inventory rev

MrRa [10]

Answer:

Debit Cost of Goods Sold and credit Merchandise Inventory for $500.

Explanation:

When there is comparism between merchandise inventory and physical count, the difference noticed is accounted to shrinkage. It could be due to damage, clerical error, or goods being lost or stolen.

This affects the profitability of the business especially when shrinkage is large. Retailers tend to increase price of goods to make up for shrinkage losses.

The entry to record shrinkage is the debit cost of goods sold and credit merchandise inventory.

7 0

3 years ago

Read 2 more answers

Kevin has deposited money into a savings account. Choose the correct terms to complete each sentence. Kevin deposits $100 into a

lesya692 [45]

Answer

In series, the answer of 'this is his' is:

Principal Amount
Interest
Total amount
Compound interest

Explanation:

Kevin deposit $100 in a savings bank account, this is his principal. Principal is the initial amount that a person deposit in his account.
Kevin's money earn 5 percent. the $5 he earn is the interest. Interest is the earning that a person earn on the overall amount deposited.
Kevin's money worth is $105, this is his total accrued amount. Acquired amount= Principal + Interest
The interest Kevin earn in first year is the interest in subsequent years. this is called compound interest.

4 0

3 years ago

In the letter to titus where is titus said to be ministering

steposvetlana [31]

He is said to be ministering in Crete

8 0

3 years ago

Charles is a stay-at-home parent who lives in New York City and teaches tennis lessons for extra cash. At a wage of $25 per hour

Margaret [11]

Answer:

2.75, elastic.

Explanation:

Measure labor supply elasticity of Individual T's as follows :

$\bf Elasticity=\frac{Percent \;change\;in\;labour\;hr}{\frac{Average\;labour\;hour}{\frac{Percent\;change\;in\;wage\;price}{Average\;wage\;price} } }$

$\bf =\frac{16-6}{\frac{16+6}{\frac{2}{\frac{35-25}{\frac{35+25}{2} } } } }$

$\bf=\frac{10}{\frac{11}{\frac{10}{30} } }$

$\bf=\frac{0.91}{0.33}$

$=2.75$

Therefore, the elasticity of the labour supply of Individual T's is approx. of earnings per hour. <u>2.75</u>, meaning that the work supply of Person T's is <u>elastic</u> across this wage range

4 0

2 years ago

On September 3, 20X8, Jackson Corporation purchases goods for a U.S. dollar equivalent of $17,000 from a Swiss company. The tran

klasskru [66]

Answer:

DR Foreign Currency Transaction loss 1,000

CR Accounts Payable (SFr) $1,000

Explanation:

When the transaction was agreed on September 3, 20X8, the exchange rate was;

$0.85 : 1 franc

Therefore the $17,000 was valued at;

= 17,000/0.85

= 20,000 francs

When the transaction was paid for however, on October 10, the Franc had gained on the dollar by;

= 0.9 - 0.85

= $0.05

This means that the dollar got weaker by $0.05 so the company made a loss of

= 20,000 francs * 0.05

= 1,000 francs

This will be recorded as;

DR Foreign Currency Transaction loss 1,000

CR Accounts Payable (SFr) $1,000

7 0

3 years ago