Answer:
cash 7,600
nearned revenue 7,600
cash 7,300
refundable deposist 7,300
cash 57,100
refundable deposist 7,300
unearned revenue 7,600
service revenue 76,000
sales tax expense 45,600
state tax payable 30,400
local tax payable 15,200
Explanation:
(1) as the services are not yet perform, this is a liability for Chicago Glass Corportation. It assumes to obligation of do this services.
(2)This will be refund once the job are complete and the containers returned in good form
(3) 72,000 - 7,600 = 64,400 - 7,300 = 57,100
Chicago deduct rom the invoince the previous payment and the refundable deposits once the transaction is finished.
(4)
760,000 x 4% = 30,400
760,000 x 2% = 15,200
30,400 + 15,200 = 45,600
Answer:
To create a high degree of adaptability, you should develop more meaningful business relationships with others. If you're mindful of being respectful to others or having empathy, your relationships are only bound to deepen. In other words, when people see that you care about them and their businesses and not just what they can do to help you, you may gain more success. When you help someone without expecting anything in return, something happens. You get goodwill returned to you. In other words, when someone has a need or sees an opportunity for you, they will think of you, so it pays to keep your professional relationships adaptable.
People with a high degree of versatility have specific characteristics: attentiveness, competence, and resilience. Versatile people have a vision for the future and the ability to self-correct. People who are not versatile are resistant to change and single-minded. As an example, our friend could not focus on anything more than client development.
Explanation:
Answer:
Net operating income= 4,134
Explanation:
Giving the following information:
Hailey, Inc., has sales of $19,570, costs of $9,460, depreciation expense of $2,130, and interest expense of $1,620. Assume the tax rate is 35 percent.
Sales= 19,570
COGS= 9,460
Gross profit= 10,110
Depreciation expense= 2,130
Interest expense= 1,620
EBT= 6,360
Tax= 2,226
Net operating income= 4,134
Answer:
a.
Assets Side
Required Reserves $10 million
Excess Reserves $51 million
Loans $70 million
Total $131 million
Liabilities Side
Checkable Deposits $120 million
Bank Capital $11 million
Total $131 million
b. Bank capitalization can be measured with bank Leverage Ratio.
= Capital/Assets
= 11/131
= 8.40%
Bank is considered well capitalized if ratio is above 5% so Oldhat Financial is well capitalized.
c. Risk Weighted Assets = $50 million
Risk weighted capital ratio = 22%
Commercial loans are 100% risk weighted = $ 30 million
Residential mortgages are 50% risk weighted = $ 20 millions
Total = $50 million.
Risk weighted Capital Ratio = Bank capital / Total risk weighted assets
= 11/50
= 22%
Answer:
-2
Explanation:
To find the cross price elasticity between to goods, we use this formula:
Cross Price Elasticity of Demand = % change in quantity demanded of good 1 / % change in the price of good 2
Now, we plug the amounts into the formula
Cross Price Elasticity of Demand = -50% / 25%
= -2
