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True [87]
3 years ago
8

Venus Company has the following information: Month Budgeted Sales January $90,000 February 85,000 March 92,000 April 79,000 Budg

eted Operating Expenses Per Month Wages $15,000 Advertising 12,000 Depreciation 3,000 Sales Commission 4% of sales All cash expenses are paid as incurred. What are the total cash disbursements budgeted for operating expenses for the month of January
Business
1 answer:
gayaneshka [121]3 years ago
4 0

Answer:

$20,600

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of the asset.

Depreciation is a non-cash item in the income statement as the actual cash spent for the purchase of the asset would have been capitalized in the balance sheet.

Hence the  total cash disbursements budgeted for operating expenses for the month of January would not include depreciation.

Total cash disbursements budgeted for operating expenses for the month of January

= $15,000 + $12,000 + (4% × $90,000)

= $15,000 + $12,000 + $3,600

= $20,600

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You pay $75 for a ticket to a Drake concert. You think the ticket is worth $100. The night before the concert your friend offers
lukranit [14]

Answer: $80

Explanation:

The opportunity cost is regarded as the real cost of the alternative that was left or forgone.

Based on the information given in the question, the opportunity cost is the free ticket to a Post Malone concert that is worth $80 which was given to me by my friend.

Therefore, the correct option is E.

5 0
3 years ago
The following is a December 31, 2021, post-closing trial balance for Almway Corporation.
balandron [24]

Answer:

TOTAL ASSETS $1,043,000

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $1,043,000

Explanation:

Preparation of a balance sheet for the Almway Corporation at December 31, 2021.

ALMWAY corporation

Balance sheet at December 31,2018

ASSETS

Current Assets

Cash and cash equivalent$47,000

($79,000-$32,000)

Short term investment $97,000

($144,000-$47,000)

Account receivable net of allowances $77,000

Inventories $217,000

Prepaid insurance $5,000

TOTAL CURRENT ASSETS $443,000

INVESTMENT

Marketable securities $47,000

Land held for sale $42,000

Restricted cash $32,000

TOTAL INVESTMENT $121,000

Plant property and equipment

Land $82,000

($124,000-$42,000)

Building $437,000

Accumulated deperation Building ($117,000)

Equipment $127,000

Accumulated deperation Equipment ($77,000)

NET PLANT PROPERTY AND EQUIPMENT $452,000

INTANGIBLE ASSETS

Patents ( net of amortization) $27,000

TOTAL ASSETS $1,043,000

LIABILITIES AND STOCKHOLDERS EQUITY

Current liabilities

Account payable $109,000

Interest payable $37,000

Note payable due in 6 months $47,000

Current maturity of long term debt notes payable $13,400

TOTAL CURRENT LIABILITY $206,400

LONG TERM LIABILITIES

Notes payable $120,600

($181,000-$47,000-$13,400)

Bond payable $257,000

TOTAL LONGTERM LIABILITIES $377,600

SHAREHOLDER EQUITY

Authorised 500,000 shares

Issued and outstanding shares $351,000

Retained earnings $108,000

Total shareholders equity $459,000

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $1,043,000

6 0
2 years ago
The discount rate is the: multiple choice 1 interest rate at which banks can borrow reserves from other banks. lowest interest r
Reil [10]

Answer:

a. The discount rate is the

  • interest rate at which banks can borrow reserves from the Federal Reserve.

The discount rate is the interest rate that the FED charges commercial banks, credit unions, or other financial institutions for lending them money.

b. If the Fed were to decrease the discount rate, banks will borrow

  • more reserves, causing an increase in lending and the money supply.

Lowering the discount rate is considered part of an expansionary monetary policy since banks will borrow more money and lend more money to the public, increasing the money supply.

7 0
3 years ago
Read 2 more answers
Suppose a country has a national debt of $5,000 billion, a gdp of $20,000 billion, and a budget surplus of $130 billion. how muc
Mrac [35]
<span>a contractionary fiscal policy that will shift the aggregate demand curve to the left by an amount equal to the initial change in investment times the spending multiplier.</span>
6 0
3 years ago
If the nominal interest rate is 4.7% and the inflation rate is 3.4%, what is the real interest rate?
jeyben [28]

Answer:

1.3%

Explanation:

The real interest rate is calculated by subtracting the inflation rate from the nominal interest rate.

real interest rate=nominal interest rate-inflation rate

nominal interest rate=4.7%

inflation rate= 3.4%

real interest rate=4.7%-3.4%

real interest rate=1.3%

According to this, the answer is that the real interest rate is 1.3%.

3 0
3 years ago
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