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3 years ago

You are driving on a multi-lane road or highway, and are approaching an emergency vehicle

Business

1 answer:

dalvyx [7]3 years ago

3 0

Answer:

C. Safely leave the lane closest to the emergency vehicle, or slow down to a speed 20 miles per hour below the posted speed limit.

Explanation:

When driving either on the high way or within the street, it is expected that one take note of the activities around him and also follow strictly driving rules and road signs . This is necessary inorder to avoid causing accident to oneself or other road users and or pay fines as a result of not following laid down driving rules and road signs.

With regards to the above scenario, the driver must either leave the lane closest to the emergency vehicle as he approaches the place or slow down to the required speed so as to prevent colliding with the emergency vehicle or causing accident to other road users and people working around the area .

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Securitization has allowed some banks to concentrate on

arsen [322]

Securitization has allowed banks to concentrate on the safety of the money they hold. They can also give more protection for the banking transactions

5 0

3 years ago

11. Nadine is retiring at age 62 and expects to live to age 85. On the day she retires, she has $402,000 in her retirement savin

Svet_ta [14]

Answer:

E. $2,688.77

Explanation:

We need to calculate the PMT of an ordinary annuity at 6%

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV 402,000

time:

85 years - 62 years = 23 years of retirement

23 years x 12 months per year = 276 months

rate: 6% annual rate we must divide over 12 months to convert into monthly: 0.06/12 = 0.005

$402000 \div \frac{1-(1+0.005)^{-276} }{0.005} = C\\$

C $ 2,688.766

She can withdraw 2,688.76 per month

7 0

3 years ago

The adjusted trial balance for Martell Bowling Alley at December 31, 2017, contains the following accounts:

Virty [35]

Answer:

Martell Bowling Alley

Balance Sheet

As of December 31, 2017

Assets

Current assets:

Cash $18,040

Accounts receivable 14,520

Prepaid insurance 4,680 $37,240

Equipment 62,400

Accumulated depreciation 18,720 $43,680

Buildings 128,800

Accumulated depreciation 42,600 86,200

Land 67,000 196,880

Total Assets $234,120

Liabilities and Equity

Current liabilities:

Accounts payable 12,300

Interest payable 2,600

Notes payable (short-term) 22,000 $36,900

Notes payable (long-term) 75,780

Total liabilities $112,680

Common stock 90,000

Retained earnings 31,440 $121,440

Total liabilities and equity $234,120

2. The current assets exceed the current liabilities by $340.

3. The percentage of current assets in cash is 48.44%.

4. The company's liquidity = 48.89%

Explanation:

a) Data and Calculations:

Adjusted Trial Balance

As of December 31, 2017

Debit Credit

Cash 18,040

Accounts receivable 14,520

Prepaid insurance 4,680

Equipment 62,400

Accumulated depreciation - equipment $18,720

Buildings 128,800

Accumulated depreciation - buildings 42,600

Land 67,000

Accounts payable 12,300

Interest payable 2,600

Notes payable 97,780

Common stock 90,000

Retained earnings 25,000

Service revenue 17,180

Insurance expense 780

Depreciation expense 7,360

Interest expense 2,600

$306,180 $306,180

Notes payable $ 97,780

Short-term notes payable $22,000

Long-term notes payable $75,780 (97,780 - 22,000)

Service revenue $17,180

Insurance expense 780

Depreciation expense 7,360

Interest expense 2,600 10,740

Net income $6,440

Retained earnings, beginning $25,000

Net income 6,440

Retained earnings, ending $31,440

2. Current assets = $37,240

Current liabilities = 36,900

Working capital = $340

Cash = $18,040

Current assets = $37,240

Percentage of cash in current assets = $18,040/$37,240 * 100 = 48.44%

Liquidity = Cash/Current liabilities = $18,040/$36,900 * 100 = 48.89%

6 0

3 years ago

Orr Co. prepared an aging of its accounts receivable at December 31 and determined that the net realizable value of the receivab

lyudmila [28]

With all these entries registered the final balance of the Allowance for Uncollectible Accounts it's as follows:

Answer:

For the year ended December 31, Orr’s uncollectible accounts expense is

Cr Allowance for Uncollectible Accounts $ 10.000

Explanation:

The initial balance of the account was as follows:

Cr Allowance for Uncollectible Accounts $ 28.000

Accounts written off as uncollectible during the year 23,000 , it means that part of the balance of the account, "Allowance for Uncollectible Accounts" was used to record the written-off accounts, this movement had a negative impact in the Accounts Receivable.

Dr Allowance for Uncollectible Accounts $ 23.000

Cr Accounts Receivable $ 23.000

During the year, the company recovered part of the canceled accounts, which means that part of that amount was collected, so it is necessary to reverse the previously registered entry.

Dr Accounts Receivable $ 5.000

Cr Allowance for Uncollectible Accounts $ 5.000

With all these entries registered, the final balance of the Allowance for Uncollectible Accounts is as follows as credit balance:

Cr Allowance for Uncollectible Accounts $ 10.000

Accounts Uncollectible are those credit that the company give and there are not chances of been collected.

When the customers buy products on credits but then the company can't collect the debt, then it's necessary to write off the unpaid bill as uncollectible .

One way it's to write-off directly the bad debts at the moment decided that the credit are uncollectible, the total amount it's reported as bad debt expenses which affect negativly the income statement and the accounts receivable are reduced in the same amount, less assets.

The other way it's to determine a percentage of total amount of accounts receivables as uncollectible, exist many ways to analize the accounts receivable and figure the value of uncollectible.

When the company have the percentage of uncollectible accounts the journal entry required is Bad Expenses (debit) with Allowance for Uncollectible Accounts (credit)

At the moment of the write-off as the expenses were before recognized we only use the Allowance for Uncollectible Accounts (Debit) with Accounts Receivable (Credit), with this we are recognizing the uncollectible credit of the company.

6 0

4 years ago

Local adaptation is typically preferred by managers who are charged with making the international business successful in their c

atroni [7]

Answer: True

Explanation:

To maintain the competitive advantage of the business the managers of international business adapt to local adaptation strategy. International markets have different languages and culture it is necessary to promote business in the local language to reach the target market accordingly.

The multinational companies have their offices, distribution and production in different countries but they maintain same set of policies and procedures which makes decision making quick and easier. Through this way they maintain the global consistency.

4 0

3 years ago