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3 years ago

When is a budget considered to be balanced??

1 answer:

7 0

A budget is said to be balanced when total revenues are equal to, or greater than total expenditures; i.e when there's no budget deficit. Budget deficit, by contrast, is the result of expenses toppling revenues. Revenue is the income a business, company, or government generates from its normal or tax activities, also referred to as a turnover; while expenditures is cost incurred or required for something, say a project. When the budget has nothing to offset, or when there's a budget surplus i.e when revenues exceed expenses, then the budget is said to be balanced.

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For a fitness center purchasing a $3,000 photocopier expected to produce 30,000 copies with no salvage value at the end of the p

Jobisdone [24]

Answer:

Depreciation expense per year

Year 1 = $1200

Year 2 = $800

Year 3 = $600

Year 4 = $300

Year 5 = $100

Explanation:

To determine the depreciation expense under the units of production/activity method of charging depreciation, we will first calculate the depreciation expense per unit and then multiply it with the units of production in each year to calculate the depreciation expense for that year.

The formula for depreciation under this method is attached.

Depreciation per unit = (3000 - 0) / 30000 = $0.1 per copy

Depreciation expense per year

Year 1 = 0.1 * 12000 = $1200

Year 2 = 0.1 * 8000 = $800

Year 3 = 0.1 * 6000 = $600

Year 4 = 0.1 * 3000 = $300

Year 5 = 0.1 * 1000 = $100

7 0

3 years ago

Legacy issues $660,000 of 5.5%, four-year bonds dated January 1, 2018, that pay interest semiannually on June 30 and December 31

dusya [7]

Answer:

Legacy

The total bond interest expense to be recognized over the bond's life is:

= $189,172.82

Explanation:

a) Data and Calculations:

Face value of 5.5% bonds issued = $660,000

Proceeds from the bonds issue = 648,412

Bonds discounts = $11,588

Interest payment = semiannually at 2.75% (5.5%/2)

Market interest rate = 6%

Effective semiannual interest rate = 3% (6%/2)

N (# of periods) 8

I/Y (Interest per year) 3

PV (Present Value) 648412

PMT (Periodic Payment) 18150

Results

FV = $982,784.82

Sum of all periodic payments = $145,200.00

Total Interest = $189,172.82

6 0

3 years ago

Business firms purchase items on credit because they cannot meet their obligations. true false

Darina [25.2K]

Oddysseyware says the answer is FALSE

6 0

4 years ago

Read 2 more answers

A customer has requested that Lewelling Corporation fill a special order for 9,000 units of product S47 for $20.50 a unit. While

bonufazy [111]

Answer:

$4,500

Explanation:

The computation of the annual financial advantage (disadvantage) for the company is shown below:

Sales (9,000 units × 20.50) $184,500

Less: Variable costs:

Direct materials (9,000 units × $3.10) -$27,900

Direct labor (9,000 units × $1.50) -$13,500

Variable manufacturing overhead (9,000 units × $6.40) $57,600

Increase in variable costs (9,000 units × $5) -$45,000

Less: Investment in special molds -$36,000

Financial advantage $4,500

We simply deduct the all cost from the sales so that the financial advantage could come

5 0

4 years ago

Using a coupon on your cell phone when checking out at the Hard Rock Café, or checking in to a retail location using Foursquare

vazorg [7]

Answer:

c. Mobile Retailing.

Explanation:

Using a coupon on your cell phone when checking out at the Hard Rock Café, or checking in to a retail location using Foursquare mobile app is an example of Mobile Retailing.

Mobile retailing can be defined as the process of buying or shopping for goods and services through the internet by using a smartphone, mobile device or tablets. It is one of the convenient ways, potential customers use to engage in e-commerce.

4 0

4 years ago