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3 years ago

How do most people learn about money?

2 answers:

6 0

Most people learn about money through school and family. Growing up you'll most likely occasionally see your family purchasing things with money. You as a curious child might as them. Another aproach to this question is through school. Most kids who go to school learn about money in kindergarten through 3rd grade. Hope this helped!

yuradex [85]3 years ago

5 0

Most people learn to spend money from grade school and there mistakes. Let's start with the mistakes, a lot of people when starting to learn how to manage money make mistakes, much as overusing money slash going over your budget. It's common to do that while getting started and will start getting used to a budget. Grade school is a good way to be educated by learning the way money is used explained, if will give processes on how to use it properly.

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Penny Lyman is the owner and operator of Go109, a motivational consulting business. At the end of its accounting period, Decembe

zalisa [80]

Based on the accounting equation, the amount for each case can be independently determined as follows:

a. The Penny Lyman, capital, as of December 31, 20Y1, is <u>$494,000.</u>

b. If assets increased by $88,000 and liabilities increased by $27,000, the Penny Layman, capital, as of December 31, 20Y2, is <u>$555,000</u>.

c. If assets decreased by $151,000 and liabilities increased by $13,000, the Penny Layman, capital, as of December 31, 20Y2, is <u>$330,000</u>.

d. If assets increased by $152,000 and liabilities decreased by $16,000 during 20Y2, the Penny Layman, capital, as of December 31, 20Y2, is <u>$672,000</u>.

e. Assuming that as of December 31, 20Y2, assets were $782,000, liabilities were $196,000, and there were no additional investments or withdrawals, and the capital remained $494,000 of 20Y1, then the net income or (loss) for 20Y2 is <u>$92,000</u> ($782,000 - $196,000 - $494,000)

<h3>Data and Calculations:</h3>

Assets at December 31, 20Y1 =$659,000

Liabilities = $165,000

Capital = Assets - Liabilities

= $494,000 ($659,000 - $165,000)

Assets = $747,000 ($659,000 + $88,000)

Liabilities = $192,000 ($165,000 + $27,000)

Capital = $555,000 ($747,000 - $192,000)

<h3>Question C:</h3>

Assets = $508,000 ($659,000 - $151,000)

Liabilities = $178,000 ($165,000 + $13,000)

Capital = $330,000 ($508,000 - $178,000)

<h3>Question d:</h3>

Assets = $821,000 ($659,000 + $162,000)

Liabilities = $149,000 ($165,000 - $16,000)

Capital = $672,000 ($821,000 - $149,000)

<h3>Question Completion:</h3>

a. Penny Lyman, capital, as of December 31, 20Y1. $

b. Penny Lyman, capital, as of December 31, 20Y2, assuming that assets increased by $88,000 and liabilities increased by $27,000 during 20Y2. $

c. Penny Lyman, capital, as of December 31, 20Y2, assuming that assets decreased by $151,000 and liabilities increased by $13,000 during 20Y2. $

d. Penny Lyman, capital, as of December 31, 20Y2, assuming that assets increased by $152,000 and liabilities decreased by $16,000 during 20Y2.

e. Net income (or net loss) during 20Y2, assuming that as of December 31, 20Y2, assets were $782,000, liabilities were $196,000, and there were no additional investments or withdrawals.

Learn more about the accounting equation here: brainly.com/question/24401217

3 0

2 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

Use the following scenario to answer the next ten questions: Natasha can produce either 5,000 pounds of cheese or 20 houses per

andrew11 [14]

Answer:

Jameson’s opportunity cost of producing one pound of cheese is 0,002 house(s).

Explanation:

Opportunity costs represent the benefits an individual, investor or business misses out on when choosing one alternative over another. Resources are limited, therefore the decision to make a quantity of product A limits the amount of producing product B.

In this exercise, Jameson has the resources to produce 5000 pounds of cheese or 10 houses per year or a combination of both.

To calculate the opportunity cost you need to determine how much of a house is 1 pound of cheese.

Opportunity cost= 10house/5000pounds= 0,002

<u>So to produce 1 pound of cheese you need 0,002 of a house.</u>

4 0

3 years ago

Read 2 more answers

Bill, age 65 has 2020 unreimbursed medical expenses totalling $20,000 and an adjusted gross income of $170,000. How much of thos

svp [43]

Answer:

$7,250

Explanation:

You can deduct medical expenses <u>that exceed</u> 7.5% of your AGI (changes, but is currently at this level).

170,000 x .075 = 12,750

20,000 - 12,750 = $7,250

I hope this helps!

-TheBusinessMan

7 0

3 years ago

Do you agree with the following statement: AVC and MC intersect at the minimum of marginal cost. a. Yes, since an upward sloping

insens350 [35]

Answer: c. No, since the MC and AVC curve intersect at the minimum of AVC

Explanation:

Marginal cost is the cost of producing one extra unit of a product while average cost is the average of all the units produced so far. Therefore, when Marginal cost is low, it pulls the average costs down with it because it will be lower than the Average costs.

However, as Marginal costs start to rise, average cost will still be low because it is taking into account the lower previous marginal costs. Marginal cost will then keep rising until it intersects the average costs at it's minimum. Once this happens Average cost will start being pulled up because the current high costs will on average eclipse the current low costs.

3 0

3 years ago