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3 years ago

Which is the last step in making a personal budget?

1 answer:

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The last step in making a personal budget is to reduce expenses in flexible categories. The correct option among all the options given in the question is option "B". Under normal circumstances, a person cannot make the adding up all sources of income as the last step. Then the expenses will not get added. The flexible expenses are expenses that can always be reduce or are not important expenses. The basis of making the budget is to reduce those unnecessary expenses. So the last step should always be to find ways to reduce the flexible or unwanted expenses.

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The power to grant or withhold budget requests of agencies may be one of ________ most potent weapon in controlling the bureaucr

skad [1K]

Answer:

_Congress's_

Explanation:

The power to grant or withhold budget requests of agencies may be one of __Congress's______ most potent weapon in controlling the bureaucracy.

It the Congress who is responsible for the the budget allocation and distribution for the agencies according to The american constitution. This how they control the bureaucracy.

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3 years ago

A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resu

kherson [118]

Answer:

b.$60,000 outflow.

Explanation:

Cash flows from financing activities

Retiring value of bonds for cash -$60,000

Cash flow from financing activities -$60,000

Since the cash flow statement records only cash transactions. So in the given case, the bonds are retired for $60,000 in cash that reflects the cash outflow and the same is to be presented on the financial statements

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3 years ago

Suppose that a country has no public debt in year 1 but experiences a budget deficit of $20 billion in year 2, a budget deficit

klemol [59]

Answer:

1) this country's public debt = $42 billion

2) incomplete question

Explanation:

A budget deficit is the difference between a country's income and its expenditures, a deficit occurs when expenditures are larger than revenues. The public debt would be the accumulation of all the country's budget deficits or surpluses.

public debt = -$20 - $30 + $10 - $2 = -$42 billion

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3 years ago

I need help ASAP!!!!

aleksandr82 [10.1K]

Answer:Feet

Explanation:

with what?

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3 years ago

Scoresby Inc. tracks the number of units purchased and sold throughout each year but applies its inventory costing method at the

Talja [164]

Answer:

Transactions Units Unit Cost Total Cost

a. Inventory, Beginning 4,000 $ 20 80,000

b. Purchase, March 5 10,000 21 210,000

c. Purchase, September 19 6,000 23 138,000

d. Sale, April 15 4,500 65 292500

e. Sale, October 31 9,000 68 612000

f. Operating expenses $615,000

Ending Inventory Units 6,500

Cost of Good Available for Sale = 80,000+ 210,000+ 138,000= $428,000

The number of units in ending inventory = Beginning + Purchases - Sales

=4000+ 10,000+ 6000- 4,500- 9,000

= 6500

FIFO cost of ending inventory $ 148500

6,000 units at $ 23 =$138,000

500 units at $ 21= $ 10500

FIFO cost of goods sold = Sales - FIFO Ending Inventory

= $ 904500- $ 148500= $ 756000

LIFO cost of ending inventory $ 132500

4,000 units at $ 20 =$80,000

2500 units at $ 21= $ 52500

LIFO cost of goods sold = Sales - LIFO Ending Inventory

= $ 904500- $ 132500= $ 772000

Weighted cost of ending inventory = ($428,000/20,000)*6500= $ 139100

Weighted cost of goods sold = Sales - Weighted Ending Inventory

=$ 904500-$ 139100= $765400

Scoresby Inc. tracks

Income Statement

FIFO LIFO Weighted Method

Sales $ 904500 $ 904500 $ 904500

Cost OF Good $756000 $ 772000 $765400

Sold

Gross Profit $ 148500 $ 132500 $ 139100

Less

<u>Operating expenses $615,000 $615,000 $615,000 </u>

Net Loss (466,500) (482,500) (475,900)

4.LIFO minimizes taxes as it gives the lowest gross profit assigning the oldest values to ending inventory.

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3 years ago