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elena55 [62]
3 years ago
11

Irving spent the day shopping and made the following purchases: Item Cost ($) Novel 8.75 Shirt 21.66 Lunch 9.13 Potted plant 16.

89 When Irving was done, he checked his account balance and found he had a total of $95.06. How much money was in Irving’s account to begin with?
Business
2 answers:
yan [13]3 years ago
8 0

Answer:

The answer is: $151.49

Explanation:

To determine how much money did Irvine have at the beginning of the day we just add all his expenses to his account balance at the end of the day:

= $95.06 + $8.75 (novel) + $21.66 (shirt) + $9.13 (lunch) + $16.89 (potted plant)

= $151.49 was the amount of money Irvine had at the beginning of the day.

vladimir1956 [14]3 years ago
4 0

Answer:

$73.32

Explanation:

Given costs;

Novel = $8.75

Shirt = $21.66

Lunch = $9.13

Potted plant = $16.89

Closing balance = $95.06

The total cost of items purchased = $8.75 + $21.66 + $9.13 + $16.89

= $56.43

The beginning balance in Irving’s account net the total cost of the items purchased gives the closing balance in the account.

Let the beginning balance be f

f - $56.43 = $16.89

f = $16.89 + $56.43

f = $73.32

The opening balance in  Irving’s account is $73.32.

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Only buy on credit, what you can pay for in cash refers to... Group of answer choices Credit Cards Payday Loans Morgages Auto Lo
shepuryov [24]

Answer:

Credit Cards

Payday Loans

Auto Loans

Explanation:

In the field of economics, credit means to have the ability of having goods or the services before the payment of the goods which can be paid later in the future to the other party.

The following can be bought on credits and can be paid in cash later on. These includes :

Credit cards -- credits card are used to purchased item on credits to which the payment is done on a later date in the future.

Payday loans -- payday loans is a type of loan or money borrowed from someone with an interest that is to be paid in the future.

Auto loans -- auto loans are available to buy a car in credit and repaying the loan in cash to the bank in installments in the future.  

3 0
2 years ago
ABC Corporation has E & P of $240,000. It distributes land with a fair market value of $70,000 (adjusted basis of $25,000) t
stealth61 [152]

Answer: Paul has a taxable dividend of $15,000.

Explanation:

From the question, we are informed that ABC Corporation has E & P of $240,000 and distributes land with a fair market value of $70,000 (adjusted basis of $25,000) to its sole shareholder, Paul. We are further informed that the land is subject to a liability of $55,000.

The taxable dividend will be the difference between the fair market value of land and the liability on the land. This will be:

= $70,000 - $55,000

= $15,000

Therefore, Paul has a taxable dividend of $15,000.

5 0
3 years ago
Selected operating data for two divisions of Outback Brewing, Ltd., of Australia are given below: Division Queensland New South
Svet_ta [14]

Answer:

1. Quuen Land Division

Margin 6.50%

ROI 11.70%

New South Wale Division Margin

Margin 3.50%

ROI 15.75%

2. New South wale Division

Explanation:

1. Computation for each division's margin, turnover, and return on investment (ROI)

QUUEN LAND DIVISION MARGIN

Using this formula

Margin =Net operating income/Total Sales

Let plug in the formula

Margin =$70,200/ $ 1,080,000

Margin=6.50%

QUUEN LAND DIVISION ROI

First step is to determine the Turnover using this formula

Turnover=Total sales/Average Asset

Let plug in the formula

Turnover= $ 1,080,000 /$600,000

Turnover =1.8 times

Now let determine the ROI using this formula

ROI =Margin * Turnover

Let plug in the formula

ROI=6.50%*1.8

ROI=11.70%

NEW SOUTH WALE DIVISION MARGIN

Margin =$ 83,475 / $ 2,385,000

Margin=3.5%

NEW SOUTH WALE DIVISION ROI

First step is to determine the Turnover using this formula

Turnover=Total sales/Average Asset

Let plug in the formula

Turnover= $ 2,385,000 /$530,000

Turnover =4.5 times

Now let determine the ROI using this formula

ROI =Margin * Turnover

Let plug in the formula

ROI=3.5%*4.5

RO1=15.75%

2. Based on the above calculation the divisional manager that seems to be doing the better job

Is NEW SOUTH WALE DIVISION because the ROI is greater.

3 0
3 years ago
The consumer price index is __
Yanka [14]

Answer:

The consumer price index is a systematic calculation used to estimate price increases in a basket of goods and services that are indicative of consumption expenditure in the economy.

Explanation:

The Consumer Price Index refers to a metric used to determine the weighted average price of a set of consumer goods and services, such as food, transportation, and healthcare.  CPI is accountable for monitoring the change in retail prices of fundamental and everyday goods and services purchased by households across the world. Changes in the CPI are required to measure increases in the price of living. The CPI is one of the most commonly used indicators for the detection of inflation or deflation cycles.

7 0
3 years ago
The Balance Sheet, the Statement of Cash Flows, and the ______________ are three key financial statements prepared by accountant
zaharov [31]

Answer:

The income statement

Explanation:

The income statement is the document prepared accountants showing the earning of a company at the end of a financial year.  The income statement is the profit and loss statement. It tells the business owners and other stakeholders how much profits the business has made.  The income statement communicates vital information regarding business performance, such as total revenues, gross profits, and net expenses.

The income statement does not give all the business the information. Accountants will also prepare the balance sheet.  A balance sheet shows the assets and liabilities of the business.

A cash flow statement is also prepared. It shows how much cash is available to pay bills, salaries, and debts.

3 0
3 years ago
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