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3 years ago

When school districts are funded by local taxes only, the likelihood of disparities in funding goes up.

1 answer:

5 0

I think the answer is false because many schools raise fundraisers to help pay for things. If this is the case the money for the school will be quite low

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Calistoga Produce estimates bad debt expense at 0.60% of credit sales. The company reported accounts receivable and allowance fo

liraira [26]

Answer: Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2021 is $246.

Explanation: Calistoga Produce applies percentage of credit sales method to estimate its bad debt expense. So 0.60% of $331,000 (credit sales) = $1,986 and the balance in allowance for doubtful accounts is $1,520. The following journals would be recorded to adjust for the estimate:

Debit Bad debt expense $466

Credit Allowance for doubtful accounts $466

The $466 is the difference between $1,986 and $1,520

Now that the company writes off $1,740 accounts receivable, the following journal entries apply:

Debit Allowance for doubtful account $1,740

Credit Accounts receivable $1,740

In summary, the allowance account movement is as follows:

Opening balance $1,520

Additional bad debt expense 466

Write-off during the year (1,740)

Balance, end of the year $246

6 0

3 years ago

Liquidity refers to a. the ease with which an asset is converted into a medium of exchange. b. the relation between the price an

Triss [41]

The answer is: a) the ease with which an asset is converted into a medium of exchange

5 0

4 years ago

True or false: While taxpayers benefit from government-provided programs and services, such as national defense and law enforcem

polet [3.4K]

Answer:

True

Explanation:

Taxes paid are NOT directly related to any specific benefit received by the taxpayer.

4 0

3 years ago

You have decided that you want to be a millionaire when you retire in 44 years. If you can earn an annual return of 11.14 percen

SpyIntel [72]

Answer:

At 11.14% interest rate we need to invest 8,650.71 today

At 5.57% interest rate we need to invest 92,090.97 today

Explanation:

We will calculate the present value of 1,000,000 at 11.14% for 44 years

and at 5.57% for 44 years

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 1,000,000.00

time 44 years

if rate = 11.4% = 0.114

$\frac{1000000}{(1 + 0.114)^{44} } = PV$

PV 8,650.71

if rate = 5.57% = 0.0557

$\frac{1000000}{(1 + 0.0557)^{44} } = PV$

PV 92,090.97

3 0

4 years ago

According to the theory of liquidity preference, tightening the money supply will ______ nominal interest rates in the short run

NeTakaya

Answer:

B) increase; decrease

Explanation:

According to the liquidity preference theory interest rates are determined by the supply and demand of money. So when the money supply is tightened it decreases the supply of money, which shifts the supply curve of money to the left and therefore interest rates increase. According to the fisher effect tightening the money supply will decrease the nominal interest rates in the long run because in the long run according to fisher interest rates and inflation rates move in the same direction, so when the money supply is tightened the inflation rates also fall because people spend less money and therefore when inflation is falling nominal interest rates also decrease.

5 0

3 years ago