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3 years ago

Four problems associated with money

Business

1 answer:

UNO [17]3 years ago

3 0

Answer:

Hmm.

Explanation:

Problems making ends meet

Accumulating too much debt.

Making poor purchasing and investing decisions.

Being unable to enjoy money.

(Source; USATODAY.com)

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Hudson, Inc. is a calendar-year corporation. Its financial statements for the years 2015 and 2014 contained errors as follows:

drek231 [11]

Answer:

The multiple choices are :

a. $0

b. $ 4,000 overstated

c. $ 4,000 understated

d. $10,000 understated

The correct option is A,$0

Explanation:

Working capital in the resources used in running the business on day to day basis.

It is more of an operational capital in the business such as the cash,inventory and some other liquid resources.

The formula for working is current assets minus current liabilities.

The working capital would not be impacted since understatement or overstatement in inventory in one year reverses in the second year.

The overstatement of ending inventory of $6,000 in 2014 would lead to understatement of closing inventory in 2015,while the overstatement in 2015 would be reversed in 2016.

3 0

3 years ago

Suppose the demand function for avocados is Q = 104 - 40p + 20tp + 0.01Y, where p is the price of avocados, pt is the price of t

LiRa [457]

Answer: equilibrium price = 4

Quantity of avocado = 110units

Explanation:

Q = 104 - 40p + 20tp + 0.01Y........eq1

Q = 58 + 15p - 20pf...........eq2

pt = $0.80,

Y = $4,000,

pf = $0.40

From eqn1 substituting of into it

Q = 104 - 40p + 20($0.80) + 0.01($4000)

= 104 - 40p + 16 + 40

= 160/40p

p = 4 equilibrium price

From eqn2. Substituting p and pf into it.

Q = 58 + 15p - 20pf

Q = 58 + 15(4) - 20($0.40).

Q = 58 + 60 - 8

Q = 110 quantity of avocado

8 0

4 years ago

Choose the most accurate statement: If these projects are mutually exclusive, which project should be chosen by the CEO of the

serg [7]

Answer:

Project A is the better option than Project B.

Explanation:

The NPV of the project will decide which is the option with greater value to shareholders. As we can see that the NPV of Project A at 10% cost of capital is greater than the NPV of Project B at the same 10% cost of capital. So the best option here is Project A as is more in value than project B. Hence the CEO must select Project A.

3 0

4 years ago

Financial statement data at December 31 for Ecco Company are as follows: Cost of goods sold $552,500 Inventories: Beginning of y

Marrrta [24]

Answer:

The answer is D.

Explanation:

Number of days' sales in inventory is the average number of days that a company will take to sell of its inventory within the year. It tells us the number of days funds are tied up in inventory.

The formula is (average inventory/cost of sales) x 365days.

Average inventory =

($200,000 + $140,000) ÷ 2

$170,000

Therefore, Number of days' sales in inventory is

($170,000/$552,500) x 365days

=112.3 days

7 0

3 years ago

At year-end (December 31), Chan Company estimates its bad debts as 0.5% of its annual credit sales of $975,000. Chan records its

Mademuasel [1]

Answer:

Journal entries below

Explanation:

Dec 31, Bad debts expense a/c Dr $4,875

To Allowance for doubtful a/c Cr $4,875

(To record bad debt expense)

Feb 1, Allowance for doubtful a/c Dr $580

To Accounts receivable - P. Park a/c Cr $580

(To record allowance for doubtful a/c)

June 5, Accounts receivable -P. Park Dr $580

To Allowance for doubtful a/c Cr $580

(To record bad debt written off)

June 5, Cash a/c Dr $580

To Accounts receivable - P. Park a/c Cr $580

(To record cash paid).

• Chen write off the receivable from balance sheet using the percentage of sales method of receivable of ($975,000 × 0.5%) = $4,875.

• Also on February 1, Chen writes off P.Park from receivable of $580 since he knew he will not pay but did pay on June 5 for $580; meaning that Chen reinstate the receivable afterwards collected cash from receivable.

7 0

3 years ago

Four problems associated with money​

Four problems associated with money