If a company has three bank accounts for processing payments, what is the minimum number of ledgers it needs?

1 answer:

6 0

A Company needs three ledgers if it has three bank accounts for processing payments. Three ledgers need for each of the bank accounts.

This three ledger provide more efficient and effective in maintaining each of the accounts and the payment process related to the account. This method will make the bank reconciliation process easier too.

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During the year, Mark reports $90,000 of active business income from his law practice. He also owns two passive activities. From

andrezito [222]

Answer:

b. $90,000 with a $10,000 loss carryover

Explanation:

Given that

Active business income = $90,000

From Activity A, the income earns = $20,000

From Activity B, the loss incurs = $30,000

So by considering the above information, the Adjusted gross income should be

The $90,000 should be recorded

Plus, the $10,000 loss should also be carryover

The $10,000 loss is come from

= $20,000 - $30,000

= -$10,000

8 0

2 years ago

Determine the missing amounts.Unit SellingPriceUnit VariableCostsUnit ContributionMarginContribution MarginRatio1. $650 $390 $en

tatiyna

Answer:

I tried to order the information and prepared the following table:

Product A Product B Product C

Unit Selling Price = $650 $200 e)$2,300

Unit Variable Costs = $390 c)$108 f)$1,495

Unit Contribution Margin = a)$260 $92 $805

Contribution Margin Ratio = b)40% d)46% 35%

contribution margin ratio = (revenue - cogs) / revenue or

contribution margin ratio = contribution margin / revenue

8 0

2 years ago

An author just signed a lucrative contract with a publisher that offers to pay her the amount of $500 at the end of year 9 when

solong [7]

Answer:

Ans. The annuity that will be equivalent to the publisher´s advance would be $26.40 per year, for 9 years at 7% interest rate.

Explanation:

Hi, first, let´s bring that $500 to be paid in 9 years to present value, we need to use the following formula.

$PresentValue=\frac{FutureValue}{(1+r)^{n} }$

Where: r is our discount rate (7%) and n the periods from now when she will receive that $500 amount. This should look like this.

$PresentValue=\frac{500}{(1+0.07)^{9} } =271.97$

Ok, so the equivalent amount of money today of those $500 in nine years is $271.97, but the author wants $100 today so the remaining amount has to be used to find the equal annual payments to be made in order to be equivalent to re remaining balance ($171.97). We now need to use the following equation.

$Present Value=\frac{A((1+r)^{n}-1 )}{r(1+r)^{n} }$