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Shkiper50 [21]
3 years ago
11

How many of the following events would require an expense to be recorded? Ordering office supplies Hiring a receptionist Paying

employees' salaries for the current month Receiving but not paying a current utility bill Paying for insurance in advance
A)Three.
B)One.
C)Two.
D)Four.
Business
1 answer:
Marat540 [252]3 years ago
7 0

Answer:

C)Two.

Paying employees' salaries for the current month

Receiving but not paying a current utility bill.

Explanation:

When salaries are played to employees, an entry is recorded in Salary Expense account.

In accrual accounting when utility bill is received it is recognised in the books even when payment has not been made. Because it is a current utility bill it has to be recorded in this period.

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A buyer has a 30-year, $400,000 loan with a 7% interest rate. How much of the first month's mortgage payment is interest
Juli2301 [7.4K]

The portion of the first month's mortgage payment meant for interest is $2,333.33

What is a mortgage?

Mortgage is a loan taken to acquire property which requires periodic interest payment such as monthly , semiannually or even annually.

First month interest=loan amount*annual interest rate/12

First month interest=$400,000*7%/12

First month interest=$2,333.33

Find further explanation on mortgage interest below:

brainly.com/question/1115815

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4 0
2 years ago
Read 2 more answers
intends on adding a new product line. the contribution margin ratio for the new product is 0.2. they have a target operating inc
FrozenT [24]

Answer:

The total fixed costs must be:

$36,000.

Explanation:

a) Data and Calculations:

Contribution margin ratio for the new product = 0.2

Target operating income = $60,000

Targeted sales volume in dollars = $480,000

Fixed costs = targeted sales volume in dollars multiplied by contribution margin ratio, minus target operating income

Fixed costs = ($480,000 * 0.2) - $60,000 = $36,000

b) The focus should be on the break-even formula for dollar sales with a target profit.  When the formula is reversed, the fixed costs can be calculated as shown above.

3 0
2 years ago
Suppose that the price of peanuts falls from $3 to $2 per bushel and that, as a result, the total revenue received by peanut far
Arturiano [62]

Answer:

A) the demand for peanuts is inelastic          

Explanation:

Since in the question it is given that the price of peanuts is fall fro $3 to $2 per bushel which shows the decreased in price while at the same time the revenue received is also decreased from $16 to $14 that results in demand for peanuts is inelastic          

As we know that

Inelastic = When elasticity is less than one

So in the given case since the price and revenue received is decrease therefore the demand is inelastic

4 0
3 years ago
The Auto Group has 1,000 bonds outstanding that are selling for $980 each. The company also has 9,700 shares of preferred stock
DochEvi [55]

Answer:

The first thing that we need to do in this question is find the total capital of the Group. They get their capital from three sources which are bonds, preferred stock and common stock. We need to find the capital provided by each of these 3 sources and add them up. After that we will see what ratio of capital is provided by preferred stock, and this ratio will be the weight of preferred stock as it related to the firms weighted average cost of capital.

Bonds

1000*980=980,000

Preferred stock = 9700*85= 824,500

Common stock= 43,000*80= 3,440,000

980,000+824,500+3,440,000= 5,244,500

Preferred weight = 824,500/5,244,500= 0.157 = 15.7%

The weight of preferred stock is 15.7%

Explanation:

4 0
3 years ago
Suppose Kitchen HelpersKitchen Helpers manufactures cast iron skillets. One model is a​ 10-inch skillet that sells for $36. Kitc
9966 [12]

Answer:

The budgeted gross profit for July is $ 11,000.

Explanation:

total cost of goods sold per july = $8,800

total units sales = $ 550

cost of goods sold for unit = $16

budgeted sale per unit is = $36

budgeted gross profit for unit = selling price - cost of goods sold

                                                  = $36 - $16

                                                  = $20

total budgeted gross profit for july

= total units sales in july *gross profit per unit  

= 550*$20

= $ 11,000

Therefore, The budgeted gross profit for July is $ 11,000.

3 0
3 years ago
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