Answer:
1. Accounts receivable
2. Notes receivable
3. Other receivable
Explanation:
Sold merchandise on account for $64,000 to a customer - Accounts receivable. Since the merchandise is sold on credit to a customer, the same is recorded in the current assets of the balance sheet as accounts receivable.
Received a promissory note of $57,000 for services performed - Notes receivable. Since the promissory note is received for service performed which we term as a note receivable. This also come under the current assets of the balance sheet
Advanced $10,000 to an employee - Other receivables - As an advance is given to an employee neither is an account receivable nor it notes receivable. So, it is term as an other receivable
Answer:
a.Expenditure on new plants, equipment, and residential construction, plus changes in business inventories.
Explanation:
Gross investment is the punt that is invested in a business without considering depreciation cost. When depreciation is removed we get net investment.
Investment can be in fixed assets (such as new plants, equipment, and residential construction) or on variable assets (such as inventory or working capital).
Gross income is the total amount invested in fixed and variable aspects of the business.
Answer:
Speed of the truck should be 64.03 miles per hour to minimize the cost.
Explanation:
Data provided in the question:
Distance = 150 miles
Wage = $14 per hour
Cost of fuel = ( v² ÷ 250 )
Now,
Total time taken = Distance ÷ speed
= 150 ÷ v
Therefore,
Total cost, TC = Wage + Cost of fuel
= $14 × (150 ÷ v) + ( v² ÷ 250 )
= 
for point of minima differentiating with respect to 'v'
TC'(v) = 
= 0
or
= 0
or
or
v³ = 2100 × 125
or
v = ∛262500
or
v = 64.03 miles per hour
hence,
Speed of the truck should be 64.03 miles per hour to minimize the cost.
Answer: Option (A) and (B) are correct.
Explanation:
Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.
If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.
In our case, the opportunity cost of purchasing Aldens is the savings that is foregone and classic, snazzy look that comes with wearing wingtips.
The answers are as follows:
7. Retire from full time work.
A 401K account is a retirement saving account that is sponsored by one's employer. This type of account allow a worker to save a portion of its salary to invest before tax are deducted from the salary. Tax are only paid on the money when they are withdrawn from the account.
8. Keep your focus on the most important goal.
Prioritizing is the process of arranging the things we need to accomplish in the order of their importance and then executing them according to their importance. Prioritizing helps one to focus one's energy on the most important thing.
9. A guess or estimate of what something will be like in the future.
Projection is an important tool in business and in personal life. Projection involves using the events that are happening now to predict what is going to happen in the future about a particular thing. Projection helps one to prepare for the happenings of the future.
10. Reserve.
Reserve refers to the amount of money you have set aside for use in case of emergency. Emergency happens at all time, at such times, it will be best to have a certain amount of money in place to cater for such emergencies. This type of money is called reserve.
11. Increase your income by working more and decrease your expenses.
An income refers to the amount of money you are paid on a regular basis because of the services your render, while expenses refers to the amount of money you spend on your needs. In order to be able to save enough money, you have to increase your income and decrease your expenses.
12. Wages is an earned income.
An earned income refers to an income which you work for, that is, you render particular services before the money is paid to you. Wages refers to the money that are paid to workers either on daily basis or on weekly basis, therefore, wages is an earned income.
13. Gift is an unearned income.
An unearned income refers to an income which you did not work for but which is given to you by some else. Financial gifts are unearned income because, the gift is not given to you as a result of the services you render.
14. Investment income is an unearned income.
The profits that one derives from investments are considered to be unearned income because one personal efforts is not involved in making the profits.
15. Salary is an earned income.
Salary refers to the money that a worker is paid on a monthly basis as a result of the services which he or she renders. Salary, is thus an earned income, because one's efforts is involved in making the money.
