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defon
3 years ago
7

Which of the following is the last step in creating budget

Business
2 answers:
Zolol [24]3 years ago
6 0
<span>Answer D, determining savings or debt, is correct. The first step is identifying and writing down your financial goal(s). The second one is to start writing down every single one of your transactions, this is the most important because it shows you your spending habits. The third step is to create the actual budget. Set aside a certain amount of money for each bill/necessity. The last step is to determine what your savings are.</span>
Amanda [17]3 years ago
6 0

D

Explanation: determine savings or debit

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Rowan Co. purchases 200 common shares (40%) of JBI Corp. as a long-term investment for $600,000 cash on July 1. JBI Corp. paid $
aleksley [76]

Answer:

1. Jul-01

Dr Investment in JBI Corp $ 600,000

Cr Cash $ 600,000

2. Nov-01

Dr Cash $ 5,000

Cr Investment in JBI Corp $ 5,000

3. Dec-31

Dr Investment in JBI Corp $ 100,000

Cr Investment revenue $ 100,000

Explanation:

1. Preparation of Rowan's entries to record the purchase of JBI shares

Jul-01

Dr Investment in JBI Corp $ 600,000

Cr Cash $ 600,000

[To record investment in common shares of JBI Corporation]

2. Preparation of Rowan's entries to record the receipt of its share of JBI dividends

Nov-01

Dr Cash [12,500*40%] $ 5,000

Cr Investment in JBI Corp $ 5,000

[To record receipt of dividends]

3. Preparation of Rowan's entries to record the December 31 year-end adjustment for its share of JBI net income

Dec-31

Dr Investment in JBI Corp [$250,000*40%] $ 100,000

Cr Investment revenue $ 100,000

[To record share of net income for the year]

4 0
2 years ago
When an individual weighs her options and makes a choice that maximizes her benefit at the minimum cost, economists refer to thi
olga_2 [115]
When an individual weighs her options and makes a choice that maximizes her benefit at the minimum cost, economists refer to this as a process of... rational decision making. You just studied 8 terms!
7 0
2 years ago
A geologist is a part of what career field? A. Mining B. plant care C. agriculture
Crank

Answer:

agriculture

Explanation:

because they study plants/geology

3 0
3 years ago
ackson Inc. listed the following data for 2019: Budgeted factory overhead $1,530,000 Budgeted direct labor hours 90,000 Budgeted
Anastaziya [24]

Answer: $36 per machine hour

Explanation:

Assuming Jackson Inc. applied overhead based on machine hours, the firm's predetermined overhead rate for 2019 would be calculated by dividing the budgeted factory overhead by the budgeted machine hours. This will be:

= $1,530,000 / 42,500

= $36 per machine hour

5 0
2 years ago
Performance Bicycle Company makes steel and titanium handle bars for bicycles. It requires approximately 1 hour of labor to make
quester [9]

Answer:

Explanation:

Particulars    Steel Bars Titanium Bars

Units Per Batch 7000 3000

Hours Per Unit   1         1

Total Hours         7000 3000

Overhead rate on the basis of direct labor = Total Overhead / Total labor hours  = 84,000/10,000 i.e 8.40

Overhead cost allocated to steel bars = 8.40*7000 = 58,800

5 0
3 years ago
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