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Finger [1]
3 years ago
12

Mike went to the ATM to take out $20 for the movies. Later in the day, he transferred $36 to his checking account

Business
2 answers:
krek1111 [17]3 years ago
6 0

Answer:

Date Transaction  debit deposit Balance

3/17      ATM withdrawal     $20            $118.85

3/17     Transfer from savings  $36            $ 154.85

Explanation:

withdrawals are taken as debit ( subtract from the previous bank balance) while transfer or deposit is addition to bank balance.

Download docx
disa [49]3 years ago
5 0

Answer:

A

D

154$

Explanation:

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A small trucking company is planning to install a GPS system in each of the five trucks the company owns. Each system costs $460
tatiyna

Answer:

a. The $7002.73 new annual net income is necessary to recover the  initial investment of the five GIS systems at the annual effective interest rate of 10%

b.   Since $6000 revenue is less than $7002.73 project is not viable financially.

Explanation:

a . Total initial cost = 4600*5

                                = $23000

Total Salvage Value = 300*5

                                   = $1500

Operating cost = $1000 with a gradient of $100.

PV of operating cost = 1000(P/A,5,10%) + 100(P/G,5,10%)

                                   = 1000(P/A,5,10%) + 100(P/A,5,10%)(A/G,5,10%)

                                   = 1000*3.7908 + 100*3.7908*1.8101

                                    = 3790.8 + 686.17

                                     = $4476.97

PV of salvage value = 1500(P/F,5,10%)

                                  =1500*0.6209

                                  = $931.35

NPV = -23000 - 4476.97 + 931.35

        = - $26545.62

annual revenue to get $26545 = 26545.62(A/P,5,10%)

                                                     = 26545.62*0.2638

                                                      = $7002.73

Annual Revenue = $7002.73

Therefore, The $7002.73 new annual net income is necessary to recover the initial investment of the five GIS systems at the annual effective interest rate of 10%

b.   Since $6000 revenue is less than $7002.73 project is not viable financially.

3 0
2 years ago
Jane works in the maintenance department, which supports the production department and the research department. Jane's wages are
valina [46]
<h2>Direct to the maintenance department</h2>

Explanation:

Jane here works only in the Maintenance department. The work that he does supports both Production as well as Research. We can calculate the expenses, only by associating the department of the employee.

So, the wages should be directly associated to the maintenance department only.

We cannot add one cost to multiple department and it is not the right approach of accounting system. So the below becomes invalid.

<em>Indirect to the production department Direct to the research department Direct to the production department Indirect to the research department</em>

3 0
3 years ago
Miracle Clean's variable costs are $3.00 per bottle and Fixed Expenses are $350,000 per year. The company currently sells 150,00
DerKrebs [107]

Answer:

131,250= number of units

Explanation:

Giving the following information:

<u>We need to calculate the number of units to be sold to maintain a profit of $175,000.</u>

Unitary variable cost= $3

Fixed expenses= $350,000

Selling price= $7

Net income= total contribution margin - fixed cost

175,000= number of units*(7 - 3) - 350,000

525,000 = number of units*4

525,000 / 4= number of units

131,250= number of units

7 0
3 years ago
The council members of a small town have decided that the earth levee that protects the town from flooding should be rebuilt and
laiz [17]

Answer:

$230,899

Explanation:

Calculation for what the equivalent present cost is for the first 5 years

Present cost of the repair work = 68,000 * (P/A, 6%,5) - 7,000 * (P/G, 6%,5)

Present cost of the repair work= 68,000 * 4.212364 - 7,000 * 7.934549

Present cost of the repair work= $230,898.90 Approximately $230,899

Therefore the Present cost of the repair work will be $230,899

3 0
3 years ago
Which of the following is not considered a legitimate expense of a partnership? a Interest paid to partners based on the amount
never [62]

Answer:

a Interest paid to partners based on the amount of invested capital.

Explanation:

A partnership is formed between two parties that agree to go into a venture for mutual gain. The parties share ownership of the business entity and as such are entitled to profit from their equity holdings.

Interest paid based on invested capital is considered a distribution of profit by the business and not an expense. This is similar to sharing profit to shareholders in a company.

Legitimate expenses include: cost of sales, staff cost, administrative costs, advertising costs, and professional expenses like hiring an accountant.

8 0
3 years ago
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