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3 years ago

A ceiling fan that was purchased at a local hardware store and then is attached to the ceiling becomes _______ to the property.

Business

1 answer:

Alona [7]3 years ago

6 0

Answer:

The fixture, is the right answer.

Explanation:

The “fixture” is the correct answer because the term fixture refers to the piece of equipment or furniture that is fixed in the house or stays at a fixed position in the building. For example, there are many things in the house that are used only at its fixed position like the AC in the room. Once the AC is installed in the room then it is stationary, no one gonna move it from its original place. Likewise in the question, it is about the ceiling fan and the fan is also stationary as it stays at a fix position.

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You have agreed to loan some money to a friend at a simple interest rate of 150% which is outrageous but still about half of the

Cerrena [4.2K]

Answer:

We give our friend 437.5 dollars

Explanation:

We have to discount from 500 dollar the interest over time, as the 500 is the value our friend will return in 4 weeks ( a month) not the amount received Hence:

nominal x discount rate x time = discount

being rate and time in the same metric

rate is annual so we express time in portion of a year

500 x -1.5 x 1/12 = -62,5‬

We have to discount 62.5 dollar from the nominal

nominal less discount = present value

500 - 62.5 = 437.5

8 0

4 years ago

Waupaca Company establishes a $410 petty cash fund on September 9. On September 30, the fund shows $134 in cash along with recei

Kaylis [27]

Answer:

The Journal entries are as follows:

(1) On September 9,

Petty cash A/c Dr. $410

To cash $410

( To establish $410 petty cash fund)

(2) On September 30,

Printing expenses A/c Dr. $60

Postage expenses A/c Dr. $70

Miscellaneous expenses A/c Dr. $135

Cash over and short A/c Dr. $11

To cash A/c $276

(To reimburse petty cash fund)

(3) On October 1,

Petty cash A/c Dr. $75

To cash A/c $75

(To increase the petty cash fund to $485)

3 0

4 years ago

Gateway Ltd sets up a company and in the first nine days of trading the following transactions occurred

valina [46]

1. The completion of the relevant ledger accounts for Gateway Ltd is as follows:

<h3>Cash Account</h3>

Date Account Titles Debit Credit

January 1: Common Stock $10,000

January 2: Inventory $4,000

January 3: Delivery Van $2,000

January 5: Sales Revenue $1,500

January 7: Accounts Payable $800

January 8: Rent Expense $200

Balance $4,500

<h3>Accounts Receivable</h3>

Date Account Titles Debit Credit

January 6 Sales Revenue $5,000

<h3>Inventory</h3>

Date Account Titles Debit Credit

January 2 Cash $4,000

January 4 Accounts Payable 1,000

January 6 Cost of goods sold $5,000

<h3>Delivery Van</h3>

Date Account Titles Debit Credit

January 3 Cash $2,000

<h3>Accounts Payable</h3>

Date Account Titles Debit Credit

January 4 Inventory $1,000

January 7 Cash $800

Balance $200

<h3>Common Stock</h3>

Date Account Titles Debit Credit

January 1 Cash $10,000

<h3>Sales Revenue</h3>

Date Account Titles Debit Credit

January 5 Cash $1,000

January 6 Accounts Receivable 5,000

Balance $6,000

<h3>Cost of goods sold</h3>

Date Account Titles Debit Credit

January 6 Inventory $5,000

<h3>Rent Expense</h3>

Date Account Titles Debit Credit

January 8 Cash $200

2. The extraction of a trial balance for Gateway Ltd is as follows:

<h3>Trial Balance</h3>

As of January 9

Account Titles Debit Credit

Cash $4,500

Accounts Receivable 5,000

Delivery Van 2,000

Accounts Payable $200

Common Stock 10,000

Sales Revenue 6,500

Cost of goods sold 5,000

Rent Expense 200

Totals $16,700 $16,700

<h3>Data Analysis:</h3>

January 1: Cash $10,000 Common Stock $10,000

January 2: Inventory $4,000 Cash $4,000

January 3: Delivery Van $2,000 Cash $2,000

January 4: Inventory $1,000 Accounts Payable $1,000

January 5: Cash $1,500 Sales Revenue $1,500

January 6: Accounts Receivable $5,000 Sales Revenue $5,000

January 7: Accounts Payable $800 Cash $800

January 8: Rent Expense $200 Cash $200

Learn more about extracting a trial balance at brainly.com/question/14604253

6 0

3 years ago

Average Rate of Return Lakeland Company is considering the purchase of equipment for $175,000. The equipment will expand the Com

Andrei [34K]

Answer:

The Average rate of return on investment is 5%

Explanation:

Solution

Given that:

Increase in revenue =$ 40,000.00

Increase in expenses $ 29,500.00

Pretax income from investment = $ 10,500.00

Income tax expense=$ 2,625.00

Net income from investment =$ 7,875.00

Now,

The Average rate of return on investment = ( Net income from investment / Initial Investment ) * 100

= ( $7875 / $ 1,75,000 ) * 100

= 4.5 %

= 5 % ( Rounded off to nearest whole number)

Thus, Average rate of return on investment is 5%

Working Note:

The Increase in expenses is calculated as follows:

The Increase in expenses = Annual cash operating expenses + Depreciation

= $ 12,000 + $ 17,500

= $ 29,500

Thus,

The Depreciation is computed by applying the Straight-line method as follows:

The Depreciation = ( Purchase cost - Salvage value ) / useful life

= ( $ 1,75,000 - 0) / 10

= $ 17,500 per year

Thus,

The Depreciation is non -cash expenditure hence it is considered while determining the profitability of company.

The Calculation of Income tax expense as follows:

The Income expense tax = Pretax income from investment * Income tax rate

= $ 10,500 * 25%

= $ 2,625

8 0

4 years ago

The opportunity cost of attending college is likely to be highest for a high school graduate Choose one: A who is very intellige

Valentin [98]

Answer:

B. who can immediately take over the family business

Explanation:

<em>Option A</em> is wrong because opportunity cost is not related to intelligence.

<em>Option C</em> is not correct because a high school graduate and a college attending student can access to student loans.

The family's wealth can not be a factor in terms of opportunity cost of attending college or a high school graduate. Therefore, <em>option D</em> is incorrect.

Option B is correct as a college attending student cannot take over the family business. So, it is his opportunity cost. On the other hand, a high school graduate can take over the business.

8 0

3 years ago