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4 years ago

The following are held by Smite Co.

Business

1 answer:

Valentin [98]4 years ago

7 0

Answer:

D) $27, 200

Explanation:

Cash in the checking account and petty cash are considered cash directly. Cash equivalents are securities that can be converted into cash within a 90 day period.

cash and cash equivalents are = checking account + petty cash + commercial paper = $20,000 + $200 + $7,000 = $27,200

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The amount you owe in state income tax is based on:

artcher [175]

<span>A. Your yearly earnings. </span>

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3 years ago

Read 2 more answers

https://brainly.com/app/ask?entry=top&q=Top+International+Corporation+currently+has+no+debt+cutstanding+and+a+total+market+v

tigry1 [53]

Answer:

I dont understand ur question

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3 years ago

The following statements regarding merchandise inventory are true except: Multiple Choice Merchandise inventory refers to produc

seraphim [82]

Answer:

Merchandise inventory appears on the balance sheet of a service company.

Explanation:

A service company sells services, not goods. Services are intangible, therefore they cannot be stored, so there cannot exist an inventory of unused services.

Merchandise inventory includes the goods that a business owns and will try to sell, and buying and selling them is part of the business's normal activities. The cost of the goods included in the merchandise inventory may include freight costs and packaging costs, depending on what type of product they are selling. Merchandise inventory is a current asset account.

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3 years ago

A finance company has a total of $20 million earmarked for homeowner and auto loans. On the average, homeowner loans have a 10%

serg [7]

Answer:

Housing million dollars $1,655.2

Automobile million dollars $413.80

Explanation:

Calculation to determine the total amount of loans of each type

Calculation for HOMEOWNER LOANS

Homeowner loans=$20,000-[(10%*20,000)/(4*12%+10%)]*10%

Homeowner loans=[$20,000-($2,000/48%+10%)]*10%

Homeowner loans=[$20,000-($2,000/58%)]*10%

Homeowner loans=[$20,000-$3,448.3]*10%

Homeowner loans=$16,552*10%

Homeowner loans=$1,655.2

Calculation for AUTO LOANS

Auto Loans=[(10%*20,000)/(4*12%+10%)]*12%

Auto Loans=($2,000/(48%+10%)]*12%

Auto Loans=($2,000/58%)*12%

Auto Loans= $3,448.3*12%

Auto Loans=$413.80

Based on the above calculation Homeowner loans amount of $1,655.2 is 4 times Auto Loans amount of $413.80

Therefore the total amount of loans of each type that Madison should extend to each category in order to maximize its returns are:

Housing million dollars $1,655.2

Automobile million dollars $413.80

3 0

3 years ago

A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 7 percent decrease in the

enyata [817]

Answer:

Option A

Explanation:

Complete Question

A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 12

percent decreases in the enrollment. If the university wants to increase its total revenue, it should ________

tuition because the demand for education at this university is ________.

A) not raise; elastic B) raise; inelastic C) not raise; inelastic D) raise; elastic

Solution -

The demand for college in the market is elastic which means that variation in variables such as college fees deeply impact the demand. If college fees is increased, the intakes or enrollment will fall down which means that the demand is not stable or on the basis of quality. Therefore, the demand for the college will not rise on fees hike and it shall be an elastic demand.

6 0

3 years ago