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Stella [2.4K]
3 years ago
8

Steve's stock portfolio makes a five percent gain and he sells a portion of his holdings. Under which heading on the chart would

this go? Who else benefits from
Steve's gain?

Factors for Production, Steve would pay the rest of the world via foreign policy

Factors for Production, Steve would pay the government more in the form of taxes

Wages, Rent, and Dividends, Steve would pay the rest of the world via foreign policy

Wages, Rent, and Dividends, Steve would pay the government more in the form of taxes
Business
1 answer:
notsponge [240]3 years ago
4 0

Answer:

Wages, Rent, and Dividends; Steve would pay the government more in the form of taxes

Explanation:

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Assume material A calls out material B. Material A has a stock quantity of 20. Material A has a demand for 100 due on 7/2 and th
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3 years ago
Hibiscus Corporation began operations on January 1, Year 1. On December 15, Year 1, the company received a payment in the amount
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Answer:

$12,000

Explanation:

The main difference between cash basis accounting and accrual accounting is that accrual accounting recognizes revenue only after the earning process is completed. On the other hand, cash basis accounting recognizes revenue and expenses when the money is received or paid, regardless of when the service is provided. This is why the US GAAP doesn't allow cash basis accounting.

The IRS allows cash basis accounting for individuals and small businesses that only deal with cash payments, but they must meet certain criteria:

  • partnerships or C corporations with less than $5 million in yearly revenue
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4 0
3 years ago
AirStep Shoe Company has two retail stores, one in Gainesville and the other in Orlando. The Gainesville store had sales of $100
Yakvenalex [24]

Answer:

D. $45,000

Explanation:

The computation of the contribution margin for the Orlando store is

= Total sales × contribution margin percentage - Gainesville sales × contribution margin percentage

= $250,000 × 32% - $100,000 × 35%

= $80,000 - $35,000

= $45,000

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7 0
3 years ago
Preparing a trial balanceSmithson Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear i
Triss [41]

Answer:

                                             Smithson Floor Coverings

                                                       Trial Balance

                                        As at 31st December 31, 2018

<u>Account                                                              Dr ($)                       Cr($)           </u>

Revenue                                                                                              26,000

Salaries Payable                                                                                  25,000

Equipment                                                          36,000

Salaries Expense                                                  1,600

Rent Expense                                                     17,000

Cash                                                                      7,000

Common Stock                                                                                     24,000

Accounts Receivable                                            3,600

Accounts Payable                                                                                 2,200

Interest Payable                                                                                    6,000

Dividend                                                                16,100

Utilities Expense                                                   <u> 1,900   </u>                  <u>             </u>

                                                                            <u> 83,200  </u>                  <u> 83,200</u>

Explanation:

In accounting, liability, Income and equity items have credit balances while assets and expenses have debit balances.

With that background, Start by picking balance relating to income and post them to the credit side of the trial balance, like revenue.

After that, pick balance relating to liability post them to the credit side of the trial balance, like trade payable.

Then pick balance relating to equity item, post them to the credit side of the trial balance, like common stock.

After this, pick items relating to asset and post them to the debit side of the trial balance, like trade receivables. Then, pick items relating to expenses and then post them to the debit side of the trial balance.

At the end, all income, liability and equity item balances are posted to the credit side of the trial balance while assets and expenses item balances are posted to the debit side.  And two sides balance.

Remember the purpose of a trial balance is to check the arithmetical accuracy of ledger balances and that was exactly what was done above.

5 0
3 years ago
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