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3 years ago

To correct a federal budget digit congress may?

Business

1 answer:

Lunna [17]3 years ago

5 0

Answer:

Increase Taxes

Explanation:

To correct a deficit in the budget, the government must raise revenue. The major source of revenue for the government it taxes.

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Leary Corporation had net credit sales during the year of $1,200,000 and cost of goods sold of $720,000. The balance in accounts

Bumek [7]

Answer:

Accounts Receivable Turnover = 8.0 Times

Explanation:

given data

net credit sales = $1,200,000

cost of goods sold = $720,000

accounts receivable beginning = $120,000

accounts receivable ending = $180,000

to find out

What was the accounts receivable turnover

solution

we get here accounts Receivable Turnover that is express as

Accounts Receivable Turnover = Net Credit Sales ÷ Average Accounts Receivable .................1

here Average Accounts Receivable is = Opening Accounts Receivable + Closing Accounts Receivable .................2

Average Accounts Receivable = $\frac{$1,20,000+$1,80,000}{2}$

Average Accounts Receivable = $1,50,000

so put value in equation 1

Accounts Receivable Turnover = $\frac{12,00,000}{1,50,000}$

Accounts Receivable Turnover = 8.0 Times

4 0

3 years ago

Todco planned to produce 3,000 units of its single product, Teragram, during November. The standard specifications for one unit

Cerrena [4.2K]

Answer:

C. the actual cost of materials was less than the standard cost.

Explanation:

As it can be seen from the given information that

The Favorable material purchase price is $380

And, non-favorable material quantity variance is $120

So, the total favorable price variance is

= $380 - $120

= $260

This represents that the actual material cost would be lower than the standard cost

hence, the option C is correct

4 0

3 years ago

Chapter 7 of the Bankruptcy Act is designed to do which of the following? a. Establish the rules of reorganization for firms wit

madam [21]

Answer: c. Provide safeguards against the withdrawal of assets by the owners of the bankrupt firm and allow insolvent debtors to discharge all of their obligations and to start over unhampered by a burden of prior debt.

Explanation:

When a person or entity files for Chapter 7 Bankruptcy, a trustee is appointed that will sell off the assets of the entity to enable repayment of debt to the creditors. As such, the entity will not be allowed to touch the assets thereby providing safeguards against their withdrawals by same.

After all assets are sold, any remaining debt is forgiven so that the debtor owes no more debt. This will then given them a chance to start over without having to worry about the previous debts they accumulated.

3 0

3 years ago

Brian holds a meeting with all the managers in the company to identify a strategy for business growth. He tells the managers tha

Pavel [41]

Answer:

Explanation:

market penetration means selling exiting products in existing market which is less risky then other methods of development. this is also called aggressive marketing.

6 0

3 years ago

Emporia Corporation is a lessee with a capital lease. The asset is recorded at $810,000 and has an economic life of 8 years. The

Doss [256]

Answer:

The amount of depreciation expense the lessee should record for the first year of the lease is $108,000

Explanation:

To calculate the depreciation expense for each year the first thing you have to do is to substruct from the initial value the fair value at the end fo the lease, obtaining this way the depreciable amount.

For this case it would be:

$810,000 - $270,000= $540,000

Then you have to divide the depreciable amount by the years of the term the lease.

$540,000/5= $108,000

4 0

3 years ago