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3 years ago

Which of the following represent typical account fees

1 answer:

5 0

The one that represent typical account fees are : minimum balance fees, service fees, and/or ATM fees. These are all common in personal finances.
Minimum balance fees is the the fees needed to make your account stays afloat, service fees is the fee that covers your operational service while ATM fees is the fees to maintain your ATM Card.

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ABC, Inc has a beginning inventory of $12,000. During the year they purchase $150,000 more inventory. At the end of the year, th

barxatty [35]

Answer:

cost of goods sold during the year = $142,000

Explanation:

First of all, let us calculate the total cost of goods acquired during the year, as follows:

Total cost of goods acquired = beginning inventory + purchases

= 12,000 + 150,000 = $162,000

Next, we are told that there was an ending inventory of $20,000, therefore, the cost of goods sold is calculated as follows:

cost of goods sold = total cost of goods acquired - ending inventory

= 162,000 - 20,000 = $ 142,000

Therefore inventory worth $142,000 was sold during the year

5 0

3 years ago

What example best describes the market structure of monopolistic

kenny6666 [7]

Answer:

Explanation:

I think it is D a city government owns and operates all Waste Management Services .

3 0

3 years ago

If the marginal cost of production is greater than the average cost, in what direction must the average cost be changing, if any

ziro4ka [17]

Answer:

b) The average cost must be rising.

Explanation:

Assuming that the entity produce 4 units and its total cost is $16 so average cost per unit is $4 and now the same entity has produced the 5th unit at $5 so the average cost now per unit is (16+5)/5=$4.2

So based on the above discussion, it can be concluded that average cost increase when the marginal cost of production is increased.

So the answer is b) The average cost must be rising.

6 0

3 years ago

Lincoln has used a piece of land in her business for the past five years. The land qualifies as §1231 property. It is unclear wh

Mashcka [7]

Answer:

Explanation Below.

Explanation:

By Selling the property, the company gains cash from the sale, and also has been using the land for the business.

Land does not depreciate in accounting terms, however, it will depend on the market value of the land. In most cases the land will appreciate and have a greater value each year.

When the accountant states that selling the asset gives the seller "the best of both worlds" the accountant is referring to selling the land for a greater value than purchased and now the cash can be used to purchase another asset that will also bring value to the company.

5 0

3 years ago

The before-tax income for Culver Co. for 2017 was $101,000 and $84,100 for 2018. However, the accountant noted that the followin

valentina_108 [34]

Answer:

Corrected income before tax year 2017 = $65,690

Corrected income before tax year 2018 = $102,467

Explanation:

According to the scenario, computation of the given data are as follow:-

Particular Year 2017 ($) Year 2018 ($)

Income before tax 101,000 84,100

Corrections

1. In 2017, unearned sales -36,200

Sales added in 2018 36,200

2. In 2017, understated ending inventory 9,500

In 2018, overstated opening inventory -9,500

3. Add-wrongly charged interest expenses 13,800 13,800

Less-actual interest expenses

In 2017 ($230,000-$14,000)×7%=$216,000×7% -15,120

In 2018, bond of carrying amount

=$216,000+($15,120-$13,800)=$217,320

In 2018, Actual interest expense=($217,320×7%) -15,212

4 Add-wrongly charged depreciation expenses

In 2017=($8,100×10%) 810

In 2018,=($8,100-$810)×10%+$8,500×10% = 1,579

Less-actual expenses for repairs -8,100 -8,500

Corrected income before tax 65,690 102,467

4 0

3 years ago