Answer:
SIMON COMPANY'S YEAR END BALANCE SHEET
AT DECEMBER 31 Current 1 yr ago 2 yrs ago
cash 6.1% 8.1% 9.90%
Accounts receivables 16.6% 14.1% 13.2%
inventory 21.5% 18.9% 14.6%
prepaid expense 1.8% 2.1% 1.1%
plant asset 54.0% 56.8% 61.2%
Total Asset 100.0% 100.0% 100.0%
Liabilities and Equity
Accounts payable 24.4% 17.1% 13.2%
Notes payable 18.6% 23.0% 22.5%
common stock 28.5% 33.1% 40.5%
Retained earnings 28.5% 26.9% 23.8%
total 100.0% 100.0% 100.0%
2) The change in % of accounts receivables is unfavorable because this means that our Debtors are not paying instead are continuing to buy on credit and that our collection methods are weak and ineffective.
3) The % change in inventory is unfavorable because it means we are selling less stock as years goes by and that we are buying more than we are selling.
Explanation:
Answer:
S/N Account Titles and Explanation Debit Credit
A Supplies $5,300
Cash $5,300
(To record the purchase of supplies for cash)
B Salaries and wages expense $
4,480
Cash $4,480
(To record the payment of wages and salaries)
C Prepaid rent $
560
Cash $560
(To record the payment of prepaid rent for July)
D Accounts receivable
$13,400
Service revenue $13,400
(To record the services provided on account)
E Accounts payable $800
Cash $800
(To record the payment made on Accounts payable)
F Cash $310
Unearned revenue/Deferred revenue $310
(To record the unearned services revenue)
G Repairs and maintenance expense $410
Accounts payable $410
(To record the accounts payable for repairs expenses incurred)
H Equipment $740
Cash $740
(To record the purchase of equipment for cash)
Answer:
Explanation:
Present value is found by discounting future values using a discount/interest rate.
Current year PV of $5000 is $5000.
A year in future PV is $5000/(1+r)^n which is $5000/(1.06)^1
= $4,716.98 is what $5000 in a year from now is worth.
Two years in future is $5000/(1+r)^r which will now be $5000/(1.06)^2
= $4,449.98 is what $5000 two years from now is worth today.
Add all figures up to get your Present value.
=5000 + 4,716.98 + 4,449.98
= $14,166.96 is the present value.
Answer:
Redistribution or income redistribution
Explanation:
Income redistribution or redistribution is a economy practice aimed to balance the distribution of income in a society though strategies or mechanisms which allow transferring of incomes from high-income earners to those with lower incomes.
As was mentioned before, there are some strategies such as progressive taxation to make the income redistribution, which consists of people with higher incomes pay higher taxes and low income earners pay a lower tax rate.
I hope it helps you
