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2 years ago

The following items were among those reported on Lee Co.'s Income Statement for the year ended December 31, 20x5:

Business

1 answer:

coldgirl [10]2 years ago

4 0

Answer:

C. $410,000

Explanation:

Administrative and general expenses in Lee's multiple - step income statement is $410,000

i.e the Legal and audit fees $170,000 and Rent for office space $240,000 which will amount to $410,000

Note: General and Administrative expenses are incurred in the day-to-day operations of a business and are not tied to a specific function or department within the organisation.

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Bradley currently has a Visa card from his bank with the following terms: 21 percent on purchases, 25 percent on cash advances w

kakasveta [241]

Complete question:

Bradley currently has a Visa card from his bank with the following terms: 21 percent on purchases, 25 percent on cash advances with a 3 percent cash advance fee on the amount, and a default or penalty rate of 33 percent. His current statement shows a balance of $9,000. Lately, he has been having a hard time paying more than the minimum payment of 3 percent of his balance.

What is Bradley's minimum payment?

A) $158

B) $189

C) $270

D) $1,890

Answer:

Bradley's minimum payment is (C) $270.

<h3>What is the percentage?</h3>

A percentage is a fraction of a whole expressed as a number between 0 and 100.
Nothing is zero percent, everything is 100 percent, half of everything is fifty percent, and nothing is zero percent.
To calculate a percentage, divide the share of the total by the total and multiply by 100.

<h3>Solution -</h3>

Given - 21 percent on purchases, 25 percent on cash advances with a 3 percent cash advance fee on the amount, and a default or penalty rate of 33 percent. His current statement shows a balance of $9,000. Her minimum payment is 3 percent of the balance.

So, to find the minimum payment find 3% of $9000.

3% of $9,000 = $270.

Therefore, Bradley's minimum payment is (C) $270.

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8 0

2 years ago

On August 1, 20Y1, Newhouse Co. received $39,110 for the rent of land for 12 months. Journalize the adjusting entry required for

Marta_Voda [28]

The adjusting entry required for unearned rent on December 31, 20Y1 is: Debit Unearned rental revenue $16,296;Credit Rental revenue $16,296.

<h3 /><h3>Unearned rent</h3>

Based on the information given the appropriate adjusting entry required for unearned rent on December 31, 20Y1 is:

31 December

Debit Unearned rental revenue $16,296

Credit Rental revenue $16,296

($39,110×5/12)

(To record unearned rent)

Inconclusion the adjusting entry required for unearned rent on December 31, 20Y1 is: Debit Unearned rental revenue $16,296;Credit Rental revenue $16,296.

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3 0

2 years ago

You bought 200 shares of Stock A at $23.00 per share 6 months ago. It is now worth $47 per share. What was the percent of increa

Nat2105 [25]

Answer:

51 % increase

Explanation:

Stock A price= $23.00

Stock A price after 6 months= $47.00

Increase in price of Stock A= $47 - $23

= $24

Percentage increase in stick price = <u>$24</u> x 100%

$47

= 0.510 x 100%

= 51%

The percentage increase in the price of Stock A is 51%

Cheers

4 0

3 years ago

Read 2 more answers

A writer, an illustrator, a publisher and an agent would form a ______. a. functional team b. cross-functional team c. managemen

tresset_1 [31]

A Cross-functional team will be formed when a writer, an illustrator, a publisher and an agent work together.

<h3>What is a Cross-functional team?</h3>

This means the groups of people from various departments in an organization that work together to achieve a common goal.

Hence, when writer, an illustrator, a publisher and an agent work together, this is known as a Cross-functional team.

Therefore, the Option B is correct.

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6 0

2 years ago

Identify the detective control below.

Darina [25.2K]

Answer:

Reconciling the bank statement to the cash control account.

Explanation:

The reason is that the detective approach is the one which helps in identification of the errors in recording the facts and figure in a control system is the detective control. In this case, bank reconciliation helps in accessing the errors and entries that are not recorded in the books of accounts hence it is a detective control.

7 0

2 years ago