1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
const2013 [10]
3 years ago
15

Melody's Piano School operations for the month of May are summarized in the following three transactions: - Provided $1,150 of i

nstruction to students. - Of the $1,150 of instruction provided in May, $900 is collected in cash, and an additional $675 is collected for lessons provided in April. - Paid April’s piano rental bill of $500. Received May’s bill of $550 but did not pay. What is Melody's Net Income for May using the cash basis of accounting?
Business
1 answer:
Eddi Din [679]3 years ago
3 0

Answer:

Melody's net income for may is $ 1,075.

Explanation:

New income in cash basis = collection from instruction - piano rental bill

                                            = $ 1,575 - $ 500

                                            = $ 1,075

Therefore, Melody's net income for may is $ 1,075.

You might be interested in
In the Classical Theory, it is the price-wage-interest rate _____________ that restores the economy to full employment if Househ
Amiraneli [1.4K]

Answer:

flexibility

Explanation:

According to classical economists, the price-wage-interest rate flexibility refers to a combination of flexible factors that maintains economic stability:

  • Flexible interest rates keeps the money markets (loans) in equilibrium.
  • Flexible wages keeps the labor market in equilibrium.
  • Flexible prices keeps the goods and services markets in equilibrium.

Therefore, if spending declines, the economy will self-adjust using flexible interest rates (interest rates should lower), flexible wages (wages should lower) and flexible prices (prices should lower) until the economy rebounds.

7 0
3 years ago
If the current interest rate is 5% and your semi-annual coupon paying bond has a duration of 5.33 years, how much will the price
Serhud [2]

Answer:

Percentage change in price = -5.33 * 0.00005

Explanation:

Percentage change in price = - modified duration * (Change in yield in BP/100)

Percentage change in price = -5.33 * ((0.01/2)/100)

Percentage change in price = -5.33 * (0.005/100)

Percentage change in price = -5.33 * 0.00005

7 0
3 years ago
How auto insurance companies manage risk ?<br>​
Nana76 [90]

____________________________________________________

Answer:

Insurance companies manages risk by balancing the low-risk drivers and the high-risk drivers. Insurance would charge higher rates for high risk drivers.

____________________________________________________

Explanation:

Insurance companies manages risk by sorting out the people who have a lower chance of risking a crash, with people who have a higher chance of risking a crash. They do this by charging low rates to the people that have a lower chance of causing a risk. They charge them low because they are trustworthy, and don't need to rack up a lot of money quick if they ever get into a crash. Remember, insurance makes people pay monthly so they could use that money in a accident.

But, this is different for people with higher risk. People that have a high risk of getting into an accident would be charged with a higher rate than people with lower risk. Insurance companies charge them with higher rates because since higher risk drivers get are more likely to get into an accident, insurance companies want to make sure that they can get the money for the accident as soon as possible. Insurance companies are the ones that pay for the accident, and that's why most places require you to have insurance while you drive.

____________________________________________________

4 0
3 years ago
Read 2 more answers
The carrying value of bonds at maturity always equals:.
svetoff [14.1K]

The carrying value of a bonds at the time of maturity will always equals: par value.

<h3>What is Par value?</h3>

Par value can simply be defined as the price of a bond or face value of a bond.

The carrying value of bonds at the time of maturity will always equals par value by adding or lessing the carrying amount or unamortized discount or unamortized premium.

Inconclusion the carrying value of a bonds at the time of maturity will always equals: par value.

Learn more about par value here:brainly.com/question/25765493

8 0
2 years ago
Under MSRB rules, any claim, dispute, or controversy shall be submitted to arbitration at the instance of a:______.
katrin2010 [14]

Answer: C. 1,2,3

Explanation:

Under MSRB rules, any claim, dispute, or controversy shall be submitted to arbitration at the instance of a:

• broker-dealer against another broker-dealer.

• customer against a broker-dealer.

• broker-dealer against a customer who has previously signed an arbitration agreement.

Therefore, based on the above scenario, the correct option is C.

3 0
3 years ago
Other questions:
  • Locally manufactured Bubbles is a popular brand of detergent in Germany. However, with the entry of a foreign multinational into
    12·2 answers
  • The production decisions of perfectly competitive firms follow one of the Ten Principles of Economics, which states that rationa
    7·1 answer
  • Delta Insurers typically affirms or denies claims within 120 days after it receives proof of loss statements. Which statement is
    12·1 answer
  • Oakley Company does not ring up sales taxes separately on the cash register. Total receipts for February amounted to $32,100. If
    6·1 answer
  • Gawker Media’s founder, Nick Denton, discusses that although some of its sites needed to cut staff, for many of Gawker’s core br
    14·1 answer
  • T&amp;P Corporation is a transnational company with four distinct businesses, including a national music and video store chain,
    14·1 answer
  • In what ways are consumer preferences changing in Ford’s different market segments and geographies? Are consumers able to articu
    5·1 answer
  • An investment offers $6,400 per year for 15 years, with the first payment occurring one year from now. If the required return is
    11·1 answer
  • On January 1, 2021, Badger Inc. adopted the dollar-value LIFO method. The inventory cost on this date was $101,600. The ending i
    11·1 answer
  • How does a system at equilibrium respond to the addition of more product.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!