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iragen [17]
3 years ago
6

The government announced that last year it spent $589 million in mandatory outlays and $416 million in discretionary outlays. It

received $1015 million in revenue. Last year, the government had a budget________ of______$ million.
Business
1 answer:
Keith_Richards [23]3 years ago
3 0

Answer:

The Last year, the government had a budget suplus of $ 10 million.

Explanation:

Government expenditure = $589 million + $416 million

                                           = $1005 million.

Government revenue = $1015 million

Government budget suplus = government expenditure - government revenue

                                              = 1005 million - 1015 million

                                              = $10 million

Therefore, The Last year, the government had a budget suplus of $ 10 million.

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Karen Meyer owns and operates Crystal Cleaning Company. Recently, Meyer withdrew $10,000 from Crystal Cleaning, and she contribu
elena-14-01-66 [18.8K]

Answer:

a. Karen Meyer's personal records

c. American red cross

Explanation:

The $6,000 contribution should be recorded in Karen Meyer's personal records because 1) the donation was made on her personal name 2) a donation of such size is relevant when Karen files her taxes.

The contribution should also be recorded in the American red cross records because the organization needs to clarify to the tax authorities where each sum of money it obtains comes from.

6 0
3 years ago
When a company prepares financial statements using standard costing, which items are reported at standard cost
Dmitrij [34]

Answer: Inventories and cost of goods sold.

Explanation:

Standard costing is used in accounting and it simply has to do with the substitution of the cost that's expected for a product with an actual cost when preparing financial statements.

The difference that's then between the actual costs and expected costs are then recorded as variance. It should also be noted that when a company prepares financial statements using standard costing, the items that are reported at standard cost will be Inventories and the cost of goods sold.

7 0
2 years ago
Herr Corporation has 3,000 shares of 8%, $120 par value preferred stock outstanding at December 31, 2017. At December 31, 2017,
Sliva [168]

Answer:

1. $28,800

$103,200

2. $28,800

$103,200

3. $86,400

$45,600

Explanation:

1. The dividend paid to preferred stockholders = Shares × Par value × Percentage

= 3,000 shares × $120 × 8%

= $28,800

The dividend paid to Common stockholders = Cash dividend - Dividend paid to preferred stockholders

= $132,000 - $28,800

= $103,200

2. The dividend paid to preferred stockholders = Shares × Par value × Percentage

Note :- Because preferred stocks are non-cumulative in nature, the company is not allowed to pay last two years' dividends and preferred stocks are liable for payment only for the current year.

= 3,000 shares × $120 × 8%

= $28,800

The dividend paid to Common stockholders =  Cash dividend - Dividend paid to preferred stockholders

= $132,000 - $28,800

= $103,200

3. The dividend paid to preferred stockholders = Shares × Par value × Percentage × Number of years

Note: Since preferred stocks are cumulative in nature, the company is forced to pay last two years' dividends along with the current year's dividend.

= 3,000 shares × $120 × 8 % × 3 years

= $86,400

The dividend paid to Common stockholders = Cash dividend - Dividend paid to preferred stockholders

= $132,000 - $86,400

= $45,600

4 0
3 years ago
As of December 31, 2016, Amy Jo's Appliances had unadjusted account balances in accounts receivable of $313,000 and $870 in the
Fantom [35]

Answer:

Bad debt expense for 2016 should be: c. $8,520

Explanation:

As of December 31, 2016, Amy Jo's Appliances had  accounts receivable of $313,000 and the allowance for uncollectible accounts should be 3% of accounts receivable

Bad debts are estimated: 3% x $313,000 = $9,390

Amy Jo's Appliances had $870 in the allowance for uncollectible accounts

Bad debts expense = $9,390 - $870 = $8,520

The entry will be made:

Debit Bad debts expense $8,520

Credit Allowance for uncollectible accounts $8,520

5 0
3 years ago
NEED ASAP!!!!!!<br><br> How do people skills and self-management skills differ?
tankabanditka [31]

Answer:

people skills is how you work well with others or deal with being around them and self management is how you react and deal with yourself.

8 0
3 years ago
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