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
salantis [7]
3 years ago
12

Sheldon has the following year-end account balances: Accounts Receivable, $5,000; Supplies, $12,000; Equipment, $18,000; Account

s Payable, $17,000; Stockholders’ Equity, $43,000. The Cash account balance was not available at year-end. Given the account balances listed, the balance in the Cash account should be A : $95,000. B : $43,000. C : $25,000. D : $61,000.
Business
1 answer:
Reptile [31]3 years ago
4 0

Answer:

the balance in the Cash account should be C : $25,000.

Explanation:

Assets=(Liabilities+Owner’s Equity)

Assets= Cash+account receivable+Suplies+Equipment

Cash                       25.000

Acoount Receivable    5.000

Supllies                      12.000

Equipment              18.000

Assets                     60.000

 

Account Payable        17.000

Liabilities              17.000

 

Stakholder equity       43.000

Equity                       43.000

Liabilities+ Equity       60.000

You might be interested in
During 2019, Travis purchases $13,000 of used manufacturing equipment (7-year property) for use in his business, his only asset
skelet666 [1.2K]

Answer:

$13,000

Explanation:

Most property purchased during 2019 and beyond, may be expenses using Section 179 tax deductions. The limit for 2019 was $1 million and that is way more than $13,000. Section 179 is one of the few benefits that small business got from the Tax Cut and Jobs Act, and it can be really useful.

Businesses can deduct the full purchase price of qualifying equipment (used manufacturing equipment qualifies) as long as it was purchased after January 1, 2019. This is an incentive created to encourage businesses to buy more equipment and invest more.

5 0
3 years ago
Assume that Jocelyn is comparing two fixed-rate loan options, a 15 year and a 30 year mortgage. Both options have the same inter
Schach [20]
<span>Assume that Jocelyn is comparing two fixed-rate loan options, a 15 year and a 30 year mortgage. Both options have the same interest rate and amount borrowed. The 30 year, when compared to the 15 year loan will have a lower monthly payment and a higher total cost when repayment is completed.

The longer the spread of an annuity payment the lower the monthly payment and the higher the total cost of the loan.
</span>
6 0
3 years ago
Read 2 more answers
With only a​ part-time job and the need for a professional​ wardrobe, Rachel quickly maxed out her credit card the summer after
choli [55]

Answer:

a. It will take her 5 years to pay for her wardrobe

b. She should shop for a new card once she is done paying for this one.

c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.

Explanation:

Use the formula below to determine the number of months it would take Rachel to pay off her debt;

C *{1-(1+r)^(-n×t)}/(r/n)=PV

where;

C=annuity

r=annual interest rate

n=number of compounding periods in a year

t=number of years

PV=present value

In our case;

PV=$10,574

C=$260

r=16%=16/100=0.16

n=12

t=unknown

replacing;

260*{1-(1+0.16/12)^(-12×t)}/(0.16/12)=10,574

1-(1+0.16/12)^(-12×t)={10,574×(0.16/12)}/260

1-{1.013^(-12 t)}=0.542

(1-0.542)=1.013^(-12 t)

ln 0.458=-12 t (ln 1.013)

t=-ln 0.458/12×ln 1.013

t=5

It will take her 5 years to pay for her wardrobe

b. She should shop for a new card once she is done paying for this one.

c. She should shop for a new card after finishing paying for this card since going further into debt with the current card would be a bad idea. This is due to the fact that an annual interest rate of 16% is very high. The best option would therefor to finish her payments on the credit card, then shop for a new card with a lower annual interest rate.

3 0
3 years ago
EB7.
egoroff_w [7]

Answer:

$4,228,125

Explanation:

The computation of the included amount is shown below:

= Estimated production in a next year × required direct labor per hour × labor rate per hour

= 75,000 units × 4.1 hours × $13.75 per hour

= $4,228,125

We simply multiplied the estimated production with the required direct labor per hour and the labor rate per hour so that the estimated value can arrive

5 0
3 years ago
Elevator speech is another term for
Fynjy0 [20]

Answer:

An elevator pitch, elevator speech, or elevator statement is a short description of an idea, product, or company that explains the concept in a way such that any listener can understand it in a short period of time.

4 0
3 years ago
Read 2 more answers
Other questions:
  • Hillary has a new product idea that aligns well with her company's current organizational resources. She puts together a present
    13·1 answer
  • Which is the best option for people who need the items immediately but cannot pay cash now?
    13·2 answers
  • Dorcan Corporation manufactures and sells T-shirts imprinted with college names and slogans. Last year, the shirts sold for $7.5
    6·1 answer
  • The following account balances were taken from the 2021 adjusted trial balance of the Bowler Corporation: sales revenue, $485,00
    6·1 answer
  • WHY do we pay tax and what is it use for
    14·2 answers
  • A client invests in an equity indexed annuity that has a guaranteed rate of 3% annual return, a 10% cap and 80% participation. i
    6·1 answer
  • Why is investing in a mutual fund less risky than investing in a particular company’s stock?
    10·1 answer
  • A colleague at work takes small amounts of office supplies for her own personal use, saying that this is a tiny loss to the comp
    9·1 answer
  • True or False: You may contribute as much of your earnings as you choose to your employer-sponsored retirement plan
    9·2 answers
  • Customers should not expect a company to keep their information confidential true or false
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!