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3 years ago

Of the approximately 27.3 million small businesses in this country, ____ have no employees.

1 answer:

3 0

<span>Approximately 90% of all small businesses have no employees. These would be the businesses run by a single person or a partnership, with no outside help having been hired to help with the duties of the job. This shows that a great percentage of these businesses are one- and two-person endeavors, while the larger small businesses are a distinct minority.</span>

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pencer Co. has a $300 petty cash fund. At the end of the first month the accumulated receipts represent 553 for delivery expense

otez555 [7]

Answer:

c) Credit to Cash for $242

Explanation:

Petty cash, beginning = $300

Delivery expense = $53

Merchandise inventory = $167

Miscellaneous expense = $22

Petty cash, Ending = $58

The journal to record the reimbursement of the accounts will be:

Event Account Title and Explanation Debit Credit

1 Delivery expense $53

Merchandise inventory $167

Miscellaneous expense $22

Cash $242

4 0

3 years ago

In March 2018, Daniela Motor Financing (DMF), offered some securities for sale to the public. Under the terms of the deal, DMF p

kiruha [24]

Answer:

The rate of return is 7.20%

Explanation:

a) Assuming you purchased the bond for $880, in order to calculate the rate of return you earn if you held the bond for 25 years until it matured with a value $5,000 we would have to calculate the following formula:

Rate of Return = [FV/PV]1/n - 1

Rate of Return= [$5,000 / $880]1/25 - 1 = [5.6818]0.04 - 1 = 1.0720 - 1 = 0.0720, or 7.20%

Rate of Return= [5.6818]0.04 - 1

Rate of Return= 1.0720 - 1

Rate of Return=0.0720, or 7.20%

The rate of return is 7.20%

5 0

3 years ago

If total liabilities decreased by $27,275 during a period of time and stockholders' equity increased by $34,366 during the same

Lilit [14]

Answer:

d.$7,091 increase

Explanation:

From the accounting equation, assets = liabilities + equity. If the total liabilities decrease by $27,275, the assets will also decrease by $27,275. Similarly, when stockholders' equity increased by $34,366, the amount of assets will increase by the same amount. The net increase in assets will be $7,091, which is the difference between the increase in stockholders' equity and the decrease in liabilities ($34,366 - $27,275).

5 0

3 years ago

A sporting goods manufacturer budgets production of 48,000 pairs of ski boots in the first quarter and 39,000 pairs in the secon

professor190 [17]

Answer:

$831,600

Explanation:

The budget must account for all of the production of the first quarter and 20% of the production of the second quarter, the number of boots considered in the budget is:

$b= 48,000 +0.20*39,000\\b=55,800\ boots$

Assuming that each boot uses exactly 2kg of raw material and that the company has 19,200 kg on hand, the amount of raw material still required is:

$m = 2*55,800-19,200\\m=92,400\ kg$

If the cost per kg is $9, then the budgeted materials purchases cost for the first quarter is:

$C=92,400*\$9\\C=\$831,600$

The budgeted materials purchases cost is $831,600.

5 0

3 years ago

Use the information below to answer questions 4-7. Drake Company's income statement for the most recent year appears below:

Colt1911 [192]

Answer:

(A) $731,250

Explanation:

The formula to compute the break-even point in sales dollars is shown below:

= (Fixed expenses or Fixed cost) ÷ (Contribution ratio)

where,

Contribution ratio = Contribution margin ÷ sales

= $208,000 ÷ $650,000

= 0.32 or 32%

And, the fixed expense is $234,000

Now put the values to the above formula

So, the value would equal to

= $234,000 ÷ 32%

= $731,250

6 0

3 years ago