1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rashid [163]
3 years ago
8

Philip Morris expects the sales for his clothing company to be $620,000 next year. Philip notes that net assets (Assets − Liabil

ities) will remain unchanged. His clothing firm will enjoy a 9 percent return on total sales. He will start the year with $220,000 in the bank. What will Philip's ending cash balance be?
Business
1 answer:
murzikaleks [220]3 years ago
5 0

Answer:

Philip's ending cash balance will be $275,800

Explanation:

Ending cash balance  = Beginning bank balance + Return on sales

                                   = $220,000 + $(620,000*9%)

                                   = $220,000 + $55800

                                   = $275,800

Therefore, Philip's ending cash balance will be $275,800

You might be interested in
Classify each of the studies as either descriptive or inferential. Explain your answers.
Ludmilka [50]

Answer: Descriptive statistics uses the data to provide descriptions of the population, either through numerical calculations or graphs or tables. Inferential statistics makes inferences and predictions about a population based on a sample of data taken from the population in question.

Explanation: Scottsdale, AZ $167 0.973 12.43%

Washington, DC $436 0.990 2.88%

San Francisco $636 1.026 6.55%  

as Vegas, NV $74 1.000 19.45%

Nashville, TN $106 0.973 18.09%

They are all Inferential study

8 0
3 years ago
Kim Jordan says that she believes that "to whom much is given, much is expected." This statement speaks of her personal convicti
Marrrta [24]

Answer:

Instrumental values.

Explanation:

The two types of values that exist are terminal values and instrumental values. Terminal values are the ones people consider of the greatest importance and desire the most. These consist of goals sought after by individuals during their whole life, such as happiness, recognition, professional success, and more. On the other hand, instrumental values relate to beliefs about what are right means to fulfilling the terminal values, such as honesty, sincerity, ethics, etc. These values have more relation to the characteristics of their personality and character.

6 0
3 years ago
Lexis Company purchased equipment on January 1, 2012 for $35,500. The estimated useful life of the equipment was 7 years and the
Naddik [55]

Answer:

The depreciation expense for 2015 is $2,000

Explanation:

The computation of the depreciation expense is shown below:

= (Original cost - residual value) ÷ useful life

= ($35,500 - $4,000) ÷ 7 years

= 4,500

The depreciation for three years would be

= 4,500 × 3 years

= $13,500

The remaining amount would be

= $35,500 - $13,500

= $22,000

So, the depreciation expense for 2015 would be

= ($22,000 - $4,000) ÷ 9 years

= 2,000

7 0
3 years ago
On January 1, Concord Corporation had 113000 shares of $10 par value common stock outstanding. On March 17 the company declared
Alik [6]

Answer and Explanation:

The Journal entry is shown below:-

March 17

Stock Dividend Dr, $84,750 (113,000 × 5% × $15)

     To Common Stock Dividend Distributable $56,500 (113000 × 5% × $10)

     To Paid in capital in excess of Par - Common Stock $28,250

(Being stock dividend is recorded)

Here we debited the stock dividend and we credited the Common Stock Dividend Distributable and Paid in capital in excess of Par - Common Stock

6 0
3 years ago
A judge requires Harry to make a payment to Sally. The judge says that Harry can pay her either $10,000 today or $12,000 two yea
Stells [14]

Answer:

d. 9 percent

Explanation:

After 2 years the value of $10,000 at present time =

$10,000 * (1 + x / 100)^2 = $12,000

(1 + x / 100)^2 = 12,00 / 10,000

(1 + x / 100)^2 = 1.2

The square root of 1.2 is 1.0954

(1 + x / 100) = 1.0954

x = 9.54

9%( Approximately.)

7 0
2 years ago
Other questions:
  • Fall protection, confined space entry procedures, controlled noise levels, and protection from chemical hazards are some of the
    10·2 answers
  • The joint planning and execution community uses _____ to develop plans for a broad range of potential emergencies based on tasks
    13·1 answer
  • A purse​ company's ads feature the members of a popular housewives reality show. product sales increase significantly among the
    15·1 answer
  • The mass of the box is 5kg (the mass center is located in the middle of the box), the mass of a lower arm plus a hand is 1.5 kg
    8·1 answer
  • _____ personality tests use a standard set of questions and are scored in a standardized way
    15·1 answer
  • Carlson Company uses a predetermined rate to apply overhead. At the beginning of the year, Carlson estimated its overhead costs
    13·1 answer
  • ogan Company owns equipment that cost $140,000 when purchased on January 1, 2018. It has been depreciated using the straight-lin
    10·1 answer
  • What does Mrs. Morningstar say that Sancho and Bolsa couldn't find in a porta-potty?
    14·2 answers
  • Identifying and Analyzing Financial Statement Effects of Stock Transactions
    9·1 answer
  • Which nims management characteristic helps to eliminate confusion.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!