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3 years ago

What would you say to some who said that citizens had no right to know where their federal income tax money goes?

1 answer:

3 0

Citizens should have the right to know what their hard earned money is getting used for, otherwise taking a person's money without a litigitimate reason will be robbery.

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[preparing trial balance] I am suppose to be preparing a trial balance but base on the accounts and information I have, I have t

LuckyWell [14K]

[preparing trial balance] I am suppose to be preparing a trial balance but base on the accounts and information I have, I have the cost amounts for two years. How would I do that?

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3 years ago

As new firms enter a competitive price-searcher market, profits of existing firms Group of answer choices rise and product diver

spin [16.1K]

Answer:

decline and product diversity in the market increases.

Explanation:

Competitive price searcher markets are those that have little barriers of entry for new firms.

Also the new forms are able to engage in transactions that are profitable. That is they easily take a market share.

In this scenario it will result in greater diversity of products as many firms can now produce goods that will be profitable in the market.

Also it will lead to a decrease in profit of existing firms as the new firm gets some of the market share

6 0

2 years ago

The controller for Clint Eastwood Co. is attempting to determine the amount of cash to be reported on its December 31, 2014, bal

NISA [10]

Answer:

The amount of $8,707,170 of cash and cash equivalents to be reported on Eastwood Co.

Explanation:

Cash reported December 31,2014 = Commercial savings account + Commercial checking account + Money market fund + Petty cash fund + Commercial paper + Currency and coin on hand

=$698,340 + $830,320 + $5,044,440 + $1,900 + $2,124,020 + $8,150

= $8,707,170

Therefore, The amount of $8,707,170 of cash and cash equivalents to be reported on Eastwood Co.

8 0

3 years ago

An electronic firm invested $60,000 in a precision inspection device. It cost $4000 to operate and maintain in the first year an

Anon25 [30]

Answer:

$9,287.63

Explanation:

Data provided in the question:

Amount invested = $60,000

Operating cost for the first year = $4000

Operating and maintaining cost after 1 year = $3,000

Selling price = $60,000

Now,

Amount paid extra in the year 1 = $4,000 - $3,000

= $1,000

EUAC ($)

= $60,000 × A/P(10%, 4) + $3,000 + $1,000 × P/F(10%, 1) × A/P(10%, 4) - [ $60,000 × P/F(10%, 4) × A/P(10%, 4) ]

= [ $60,000 × 0.3155 + 3,000 + 1,000 × 0.9091 × 0.3155 ] - [ 60,000 × 0.6830 × 0.3155 ]

= [ $18,930 + $3,000 + $286.82 ] - [ $12,929.19 ]

= $9,287.63

5 0

3 years ago

Financial data for Joel de Paris, Inc., for last year follow:

suter [353]

Answer:

profit margin: 7.09%

Turnover:

Assets : 1.85

Account Receivable: 11.53

Inventory: 9.05

ROI: 28.94%

2.- residual income 91,395

Explanation:

sales 4,700,000

net income 333,000

profit margin:

net income / sales

333,000 / 4,700,000 = 0,070851 = 7.09%

Turnovers:

Will be sales over an asset account to calcualte how many times the assets converts to cash or rotate.

the average will be calcualte as (beginning + ending)/2

Assets turnover:

sales/average assets

sales 4,700,000

(2,505,000 + 2,585,000) / 2 = 2,545,000

Ratio: 1,8467 = 1.85

Account Receivable Turnover:

sales/ average turnover

sales 4,700,000

(344,000 +471,000)/2 = 407,500

Ratio: 11,5337 = 11.53

Inventory Turnover

Sales/ average inventory

Sales 4,700,000

(568,000 + 471,000)/2 = 519,500

Inventory turnover: 9,04716 = 9.05

ROI

net income / average equity

where:

average equity : (beginning + ending)/2

1,092,000 + 1,209,000 = 1,150,500

333,000/1,150,500 = 0,28943

Residual income:

net income - Equity x expected return

333,000 - 1,150,500 x 0.21 =

333,000 - 241,605‬ = 91,395

5 0

3 years ago