When handling faxed records,

Transactions Interstate Delivery Service is owned and operated by Katie Wyer. The following selected transactions were completed

nalin [4]

Answer:

1. Transaction: Received cash from owner as additional investment $18,000

Accounting equation element: Asset and Equity

Direction: Cash increases Equity increases

Account: Cash and Wyer capital

2. Transaction: Paid advertising expenses $4,850

Accounting equation element: Asset and equity

Direction: Cash decreases Equity decreases

Account: Cash and equity

3. Transaction: Purchase supplies on account $2,100

Accounting equation element: Asset and Liability

Direction: Asset increases Liability increases

Account: Supplies and Accounts payable

4. Transaction: Billed customers for delivery services on account $14,700

Accounting equation element: Asset and Equity

Direction: Asset increases Equity increases

Account: Accounts receivable and equity

5. Transaction: Received cash from customers on account $8,200

Accounting equation element: Asset and Asset

Direction: Cash increases and accounts receivable decreases

Account: Cash and accounts receivable

5 0

3 years ago

Margie has had a tough month. First, she had dental work that cost $700. Next, she had her car transmission rebuilt, which c

motikmotik

Answer:

Calculate amount of annual interest:

The simple interest rate is the percentage of the credit that should be paid as interest on yearly basis. The amount of interest should be paid per year on a loan.

Miss. Margie has spent $700 for dental work and $1,400 for car transmission rebuilt. She has made both transactions on her credit card. If she does not pay credit balance of $2100, she will be charged 21 percent interest.

Calculate the annualized interest expenses.

Miss. Margie should pay annual interest if she does not pay off credit card balance. She has a credit balance of $2100. The interest rate on credit balance is 21 percent.

Annual Interest = Amount owned x Interest rate

Annual Interest = 2,100 x 0.21

Annual Interest = 441

Annual interest on credit card balance is $441

Money market investment is a high-liquid, and short term securities containing commercial paper. Treasury bill, banker's acceptance, promissory note.

Calculate the amount of interest received on money market investment. Miss. Margin has a money market account with $15.000. On this account she receives 3 percent interest.

So, the total interest earned on a money market account is:

Annual Interest = Amount x Interest rate

Annual Interest = 15,000 x 0.03

Annual Interest = $450

Miss. Margin has got $450 as annual interest on money market account of $15000 with the interest rate of 3 percent.

To calculate the amount of annual interest, she should write a check of 2,100 for pay off credit card balance, a money market account shows the balance of 12,900. The interest rate is 3 percent.

Annual interest = Amount x interest rate

Annual interest = 12,900 x 0.03

Annual interest = $387

If she should write the check out of her money market account she gets interest of $387.

So, she will lose the interest of $63

Miss. Margin should write the check'. She is able to cover credit card bill from money market account. It is always better to payoff credit card bill in full from income or saving than to pay credit card balance with interest on due balance.

If she pays credit card due balance from money market account, she will not have to pay interest charges

8 0

3 years ago

Read 2 more answers

A customer invests $100,000 in a real estate limited partnership. In the first year of operations, the investor is allocated $20

nata0808 [166]

Answer:

-$130,000

Explanation:

The computation of the net loss deducted from his return is shown below:

= Income - interest deductions - operating expenses - depreciation expenses

= $20,000 - $80,000 - $45,000 - $25,000

= $20,000 - $150,000

= -$130,000

Since the value comes in negative which reflects the net loss for the year

We simply deduct the revenues from the expenses so that the net income or net loss could come

3 0

3 years ago

HURRY PLEASE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! When defining the issue for which a decision has to be made, fr

777dan777 [17]

The answer is (C) Helps point to a set of actions that should occur

8 0

3 years ago

Short Answer 7: If the government announced that they were going to reduce the income tax next year, financed by finding a large

GalinKa [24]

Answer:

The labor would increase

Explanation:

When the government decides to lower the income tax in the coming year, which is financed by the findings of a large as well as a previously unknown warehouse for real goods, then there would be an increase in the labor as the reduction in the income tax would cause more and more investment. And thus organizations and firms increase their efficiencies and create more and more output by increasing the labor.

7 0

2 years ago