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irakobra [83]
3 years ago
11

Wetzel Company has the following accounts and balances at the end of the fiscal​ year: Long−Term Notes Payable ​$150,000 Account

s Receivable ​$30,000 Accounts Payable ​$41,000 Building ​$55,000 Cash and Cash Equivalents ​$38,000 Salaries Expense ​$20,500 Common Stock ​$22,000 Interest Payable ​$4,500 Land ​$43,000 Short−term Investments ​$30,000 Income Taxes Payable ​$10,000 Equipment ​$59,500 Supplies ​$25,000 Service Revenue ​$99,000 Supplies Expense ​$38,000 Utilities Expense ​$28,500 Income Tax Expense ​$25,000 What is the total amount of liabilities at the end of the​ year?
Business
1 answer:
Kay [80]3 years ago
6 0

Answer:

$205,500

Explanation:

The computation of the total amount of liabilities at the end of the year is shown below:-

The Total amount of liabilities at the end of the year is

= Long−Term Notes Payable + Accounts payable + Interest payable + Income tax payable

= $150,000 + $41,000 + $4,500 + $10,000

= $205,500

Therefore for computing the total amount of liabilities at the end of the year we simply applied the above formula.

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The government has the ability to influence the level of output in the short run using monetary and fiscal policy. There is some
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The government has the capacity to influence the level of output in the short run by utilizing monetary and fiscal policy. There exists some disagreement as to whether the government should endeavor to stabilize the economy. The given statement is true.

<h3>What is the monetary and fiscal policy?</h3>

Monetary policy exists as a set of actions to control a nation's general money supply and achieve economic growth. Monetary policy strategies contain revising interest rates and changing bank reserve conditions. Monetary policy exists commonly categorized as either expansionary or contractionary.

In economics and political science, the fiscal policy exists as the use of government revenue assemblage and expenditure to control a country's economy. Fiscal policy exists the use of government spending and taxation to influence the economy. Governments typically employ fiscal policy to promote strong and sustainable growth and decrease poverty.

To create an economy more stable, active stabilization policy instruments that mitigate the effect of pessimism and optimism waves stand advocated. The waves of pessimism among consumers and businesses show the fall in aggregate demand. This fall in aggregate demand can be partly or fully offset by raising the money supply because the increase in money supply boosts aggregate demand.

The government has the capacity to influence the level of output in the short run by utilizing monetary and fiscal policy. There exists some disagreement as to whether the government should endeavor to stabilize the economy.

To learn more about monetary and fiscal policy refer to:

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7 0
2 years ago
If a borrower provides collateral and fails to repay the loan,
MakcuM [25]
The correct option is  B.
In case of non repayment of loan, the lender can sell the collateral and used the proceeds to cover his losses.  A collateral is always in form of properties which are substantial in value, it is often requested that borrowers provide collateral in order to reassure lenders that they will pay up.
6 0
3 years ago
Read 2 more answers
All of the following statements regarding brand loyalty are true except: Select one: a. the marketing costs of reaching loyal cu
evablogger [386]

Answer: the marketing costs of reaching loyal customers are typically very high

Explanation:

Brand loyalty is when a customer buys a product repeatedly from thesame company rather than buying a substitute from another company. Despite the efforts of the competitors to life them away, such customers are devoted to the product.

It should be noted that the marketing costs of reaching loyal customers are typically low. They hardly need any source of encouragement or advertisement to convince them to make their purchases.

6 0
3 years ago
Pat manages the customer care department of her firm. She is very happy with her team of 15 customer care representatives​ who'v
Serggg [28]

Answer:

Motivation

Explanation:

<em>Motivation in work is when employees are incentivized due to their good performance</em>, this happens when they provide the company a greater value. There are two kinds of motivation:

  • Internal: it includes emotions and thoughts, <em>in the exercise given this internal motivation is letting the team know that they are doing good</em>
  • External: includes salary and work environment, <em>in the case given the bonuses are the external motivation</em>

I hope you find this information is useful and interesting! Good luck!

3 0
2 years ago
Applying Factory Overhead Bergan Company estimates that total factory overhead costs will be $620,000 for the year. Direct labor
gizmo_the_mogwai [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Applying Factory Overhead Bergan Company estimates that total factory overhead costs will be $620,000 for the year. Direct labor hours are estimated to be 80,000.

A) Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 620,000/80,000= $7.75 per direct labor hour

B) Bergan Company accumulated 2,500 hours of direct labor costs on Job 200 and 3,000 hours on Job 305.

Job 200:

Allocated overhead= 2,500*7.75= $19,375

Job 305:

Allocated overhead= 3,000*7.75= $23,250

C) Job 200                     19,375

   Job 305                      23,250

                         Allocated Overhead          42,625

6 0
2 years ago
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