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3 years ago

6

How do we prepare for unexpected expenses that might disrupt the implementation of a budget, and allow us to avoid long term hig

h interest debt?

1 answer:

ikadub [295]3 years ago

8 0

Out of the money you make set some aside for unexpected expenses

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What is a presentation can do?

stich3 [128]

Answer:

I recommend the Powerpoint format. If you present multiple pages But if the content is short, I recommend an infographic. Or it can be made into a video to add excitement or a Flip ebook looks exciting.

8 0

3 years ago

The Adjusted Trial Balance section of the worksheet for Van Zant Janitorial Supplies follows. The owner made no additional inves

Tasya [4]

Answer:

$\left[\begin{array}{ccc}Account&DEBIT&CREDIT\\$Cash&18,900&-\\$Account\: Receivable&60,100&\\$Allowance \: doubful \: accounts&&150\\$Inventory&186,500&\\$Supplies&7,170&\\$Prepaid Insurnace&3,090&\\$Equipment&51,300&-\\$Acc \: Dep \: Equipment&-&18,100\\$Accounts \: Payable&&9,000\\$SS \: tax \: payable&&1420\\$Medicare \: tax \: payable&&340\\$Capital&&298,050\\&327,060&327,060\\\end{array}\right]$

Explanation:

The sales, expenses, income summary and drawings accounts will be closed therefore will not be part of the post-closed trial balance.

Thew capital Account will suffer the net change of all these account thus, we can list the assets and liabilities and then, solve for Capital by the difference:

Assets = Laibilities + Equity

327,060 = 150 + 18,100 + 9,000 + 1,420 + 340 + Capital

Capital = 327,060 - (150 + 18,100 + 9,000 + 1,420 + 340)

Capital = 298,050

3 0

3 years ago

Empire Company is a manufacturer of smartphones. Its controller resigned in October 2017.

Helen [10]

Answer:

a. Schedule of cost of goods manufactured for October 2017.

Raw materials costs ($264,000 + $18,000 - $29,000) $253,000

Direct labor costs $190,000

Depreciation on factory equipment $31,000

Indirect labor cost $28,000

Rent on factory facilities $60,000

Utilities expense $12,000 × 75% $9,000

Insurance expense $8,000 × 60% $4,800

Add Opening Work in process Inventory $20,000

Less Closing Work in process Inventory ($14,000)

Cost of goods manufactured $581,800

b. Income statement for October 2017.

Sales Revenue $780,000

Less Cost of Goods Sold :

Opening Finished goods Inventory $30,000

Add Cost of goods manufactured $581,800

Less Closing Finished goods Inventory ($50,000) ($561,800)

Gross Profit $218,200

Less Expenses :

Advertising expense $90,000

Selling and administrative salaries $75,000

Depreciation on sales equipment $45,000

Utilities expense 12,000 × 25 % $3,000

Insurance expense 8,000 × 40 % $3,200 ($216,200)

Net Profit / Loss $2,000

Explanation:

First, Prepare the cost of goods manufactured for October 2017 and include the amount in the calculation of cost of goods sold.

In the cost of goods manufactured schedule, include only the costs that are factory related.

Then, Prepare the income statement for October 2017, making sure to adjust the Utilities and Insurance expenses appropriately.

4 0

3 years ago

A regression analysis of 117 homes for sale produced the following regression equation, where price is in thousands of dollars a

puteri [66]

Answer:

(a). For every additional square foot of area of a house, the price is predicted to increase by $61

(b) The asking price is $145410 and the residual is a negative $4100

Explanation:

As per the data given in the question,

a) From regression equation Slope = 0.061

So slope = (0.061 × 1,000) ÷ 1 sq. ft.

= $61 per sq. ft.

For every additional square foot area price is increased by $61

b) If size of the house is = 1600 square foot then

Price = 47.81 + 1600*0.061

=$145,410

The asked price is $4,100 less than estimated price and residual is not positive

Hence,

Asking price = $145,410

Residual price = a negative $4,100

5 0

3 years ago

On April 1, 20Y8, Maria Adams established Custom Realty. Maria completed the following transactions during the month of April:

KiRa [710]

Answer:

Cash + Supplies = Accounts Payable + common stock - dividends + sales commission - Rent expense.

$20,000 + 2,520 = $2,520 - $1,590 + 25,700 - $5,040 - $8,000 - $2,420 - $1,160 - $3,030 - $850

Explanation:

The effect of transaction is listed above. The effect will be on the balance sheet. These transaction have impacts on various accounts assets side is impacted and liability side is impacted. Equity is affected when there is payment of dividends and stock capital issuance.

4 0

2 years ago