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4 years ago

The argument that the national debt imposes a burden on future generations becomes more compelling as

1 answer:

5 0

It becomes more compelling as it increases over time. Basically, when you owe money and die, your children have to pay it back. Then they accumulate their own debt so their children have to pay it then. This goes on for years and years and you end up with a huge national debt that the generations can't pay back and everyone keeps working for money that they don't have.

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The following information relates to Jay Co.’s accounts receivable for 2016: Accounts receivable balance, 1/1/2016 $650,000 Cred

Vilka [71]

Answer:

$1,085,000

Explanation:

The computation of the ending account receivable balance is shown below:

= Accounts receivable balance, 1/1/2016 + credit sales - sales returns - written off amount - Collections from customers

= $650,000 + $2,700,000 - $75,000 - $40,000 - $2,150,000

= $1,085,000

Since we have to find out the account receivable balance before allowances so we do not considered it.

7 0

3 years ago

Read 2 more answers

Bernard is a trainee accountant. His manager asked him to record a loss on the sale of machinery in the business’s temporary acc

Agata [3.3K]

Answer:

Gain and loss accounts

Explanation:

Gain and loss accounts are a form of temporary accounts that are utilized to gather combined sales and purchases that has an effect on the profit or loss of business activities over a given period, which is typically in a year. For example, the loss on property sold account.

Hence, in this situation, the correct answer to the question is known to be a GAIN and LOSS ACCOUNT.

6 0

4 years ago

Adong's Fishing Products is analyzing the performance of its cash management. On average, the firm holds inventory for 65 days,

tatuchka [14]

Answer:

A. $45

B. $80

C. $8,167

Explanation:

(a) Calculation to determine the firm's cash conversion cycle

Cash conversion cycle=$65 +$15 – $35

Cash conversion cycle=$45

Therefore the firm's cash conversion cycle is $45

(b) Calculation to determine the firm's operating cycle

Operating cycle =$65 +$15

Operating cycle=$80

Therefore the firm's operating cycle is $80

(c) Calculation to determine the daily expenditure and the firm's annual savings if the operating cycle is reduced by 15 days

First step is to calculate the Daily expenditure

Daily expenditure =$1,960,000/360

Daily expenditure=$5,444.44

Now let determine the Annual savings

Annual savings =$5,444.44 *15*0.10

Annual savings=$8,167

Therefore the daily expenditure and the firm's annual savings if the operating cycle is reduced by 15 days will be $8,167

5 0

3 years ago

A soldier was drinking at a training seminar. Although he was told to leave his car at the seminar, he disobeyed orders and drov

kozerog [31]

No because he should of followed orders

3 0

3 years ago

You bought 150 shares of stock at $15.00 per share. At the end of the year, you received a dividend of $50.00 and your stock was

shusha [124]

Answer:

13.33%

Explanation:

Data provided in the question:

Number of shares bought = 150

Price per share = $15.00

Dividend received = $50.00

Value of the stock at the end of the year = $2,500

Now,

Total investment = Number of shares bought × Price per share

= 150 × $15.00

= $2,250

Return on stocks

= Value of the stock at the end of the year + Dividend received - Total investment

= $2,500 + $50 - $2,250

= $300

Therefore,

Rate of return on stock = [ Return of stock ÷ Amount invested ] × 100%

= [ $300 ÷ $2,250 ] × 100%

= 13.33%

4 0

4 years ago