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3 years ago

What are some simlarities between saving and investing?

Business

1 answer:

uysha [10]3 years ago

7 0

Answer:

A similarities between saving and investing

1) Its about money.

2) Investing is similar to saving because you’re putting away money for the future. But you're trying to earn more money.

Explanation:

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Portland Sardines produced $14 million worth of cans of sardines. In producing these cans of sardines, it purchased $2 million d

Rudiy27

Answer:

$12 million

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

contribution to GDP = value of final good - value of intermediate good

14 = 2 = 12

7 0

3 years ago

Jones Company bought Wood Company in 2020 and appropriately recorded $750,000 of goodwill related to the purchase. On December 3

Alex

Answer: $0

Explanation:

Wood company's value is carried in Jones company books as $5,100,000 which is less than the fair value of $6,000,000. There is therefore no goodwill because the fair value is larger than the carrying value and goodwill only exists if the reverse is the case.

If there is no goodwill, there can be no goodwill impairment so goodwill impairment recognized in 2021 is $0.

7 0

3 years ago

The following data from the just completed year are taken from the accounting records of Mason Company: Sales $ 524,000 Direct l

Katyanochek1 [597]

Answer:

Cost of Goods Available Sold $ 265,000

Adjusted Cost of Goods Sold $ 255,000

Net Income $ 66,000 

Explanation:

 Mason Company: 

Cost Of Goods Schedule

Inventories Beginning Raw materials $ 7,000

Raw material purchases $ 118,000

Inventories Ending Raw materials $ 15,000

Direct Materials Used $ 110,000

Direct labor cost $ 70,000

Manufacturing overhead applied to work in process $ 90,000

Total Manufacturing Costs $ 270,000

Add Work in process Inventories Beginning $ 10,000

Cost of Goods Available For Manufacture $ 280,000

Less Work in process Inventories Ending $ 5,000

Cost of Goods Manufactured $ 275,000

Add Finished goods Inventories Beginning $ 20,000

Cost of Goods Available For Sale $ 295,000

Less Finished goods Inventories Ending $ 35,000

Cost of Goods Available Sold $ 265,000

Mason Company:

Cost Of Goods Schedule Adjusted

Inventories Beginning Raw materials $ 7,000

Raw material purchases $ 118,000

Inventories Ending Raw materials $ 15,000

Direct Materials Used $ 110,000

Direct labor cost $ 70,000

Manufacturing overhead applied to work in process $ 90,000

Total Manufacturing Costs $ 270,000

Add Work in process Inventories Beginning $ 10,000

Cost of Goods Available For Manufacture $ 280,000

Less Work in process Inventories Ending $ 5,000

Cost of Goods Manufactured $ 275,000

Add Finished goods Inventories Beginning $ 20,000

Cost of Goods Available For Sale $ 295,000

Less Finished goods Inventories Ending $ 35,000

Cost of Goods Available Sold $ 265,000

Less Over Applied Overhead $ 10,000

Adjusted Cost of Goods Sold $ 255,000

Over applied overhead is deducted to get the actual Cost of Goods Sold.

Mason Company:

Income Statement

Sales $ 524,000

Less

Adjusted Cost of Goods Sold $ 255,000

Gross Profit $ 269,000

Less Selling expenses $ 140,000

Administrative expenses $ 63,000

Net Income $ 66,000 

5 0

3 years ago

The windsong automobile manufacturing company produces luxury automobiles made to order. the ownership of the firm recognizes th

notsponge [240]

The core job dimension which describes this work team is TASK IDENTITY.
Task identity refers to the overall extent to which an identifiable job is done from the starting point to the finish point by a single worker. Task identity is an important component of job satisfaction and employers use this technique to increase the satisfaction that the employees derived from their works.

6 0

3 years ago

Question 1 Tamarisk Corporation issued 1,800 shares of $10 par value common stock upon conversion of 900 shares of $50 par value

Anastasy [175]

Answer:

The journal entries relating to the conversion of preferred stock to common stock are highlighted below:

Dr Preferred stock $45,000

Dr Paid-in capital in excess of par $9,900

Cr Common stock $18,000

Cr Paid-in capital in excess(balancing figure) $36,900

Explanation:

Find in the attached the detailed computations of the amounts above.

Download xlsx

7 0

3 years ago