Answer:
Review labor costs downwards
Explanation:
Janet and Omar should consider revising their budget for labor downwards. In the current state, labor costs are $1000, which is approximately 57 percent of all costs. As a rule of thumb, labor costs should be between 25 to 35 percent of total costs. This implies that Janet and Omar's labor costs are very high in relation to the other costs.
Janet and Omar should aim for a profit. Ideally, a 25 to 30 percent profit is a good target for such a business. For this to happen, they need to cut down labor to between $300 to a maximum of $400.
Answer:
See attached picture
Explanation:
Bank statement is a statement prepared by bank. The company also, maintains its own records. This is the reason the cash balance per bank and cash balance per books seldom agree.
Bank reconciliation is the statement prepared by companies to remove disagreement between cash balance per bank and cash balance per books.
In here we are to calculate bank reconciliation for Satiango co.
Below are the attached picture. But, in this case the adjusted balance as per bank is not equal to the adjusted balance per books.
Answer:
$378,000
Explanation:
The answer to this question is quite simple
The Total Assets increase is $378,000
This is so due to the fact that the Notes Payable is $378,000 and there is no other transaction of liability
We have as net change on the asset to be $378000+$6900-_6900
This gives us = +$378000
Now this balances with a net increase in the 378,000 liability. Thus, the right answer is Total assets is going to increase by $378,000
Answer:
monthly mortgage interest is less than monthly lease cost
Explanation:
4% of 1000000
= $40,000 per year
Per month: 40000/12
= %3,333.33
Monthly mortgage interest is less than monthly lease cost