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Greeley [361]
3 years ago
15

How much should be in the reserve for fixed expenses?

Business
1 answer:
olchik [2.2K]3 years ago
8 0

Answer:

The short answer is that your cash reserve should be sufficient for you to feel comfortable running your business. Some experts recommend having three months of expenses. Others recommend six months. I would suggest speaking to your CPA or financial adviser to determine the right number for your business.

Explanation:

You might be interested in
Comparing how many dollars it takes you to run your car each year to annual earnings on a job insteadof keeping track of costs i
stepan [7]

Answer:

B

Explanation:

Money has several functions, one of its principal function is using it as unit of account. By comparing the amount in dollars spent on running a car yearly to annual earnings instead of keeping track in terms of gasoline cost and quarts of oil shows that money has been used as a unit of account.

This means that the amount of gasoline gallons bought and quarts of oil has been essentially replaced by the cost of these purchases and hence avail is the power to use money as a unit of account

5 0
3 years ago
A(n) ______ is maintained for each financial statement item, whereas a(n) ______ contains all of the accounts of the company.
Svetllana [295]

Answer:

An <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

Explanation:

Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.

For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.

The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.

Therefore, an <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

4 0
3 years ago
Larry Bar opened a frame shop and completed these transactions:1. Larry started the shop by investing $40,800 cash and equipment
natita [175]

Answer:

$44,100

Explanation:

Larry Bar

Investment in Cash - Receptionist's salary+Sales of custom frame = Cash account balance

Investment in Cash $40,800

Paid $2,000 Receptionist's salary $2,000

Sales of custom frame $5,300

Hence:

$40,800-$2,000+$5,300

=$44,100

Cash account balance will be $44,100

6 0
3 years ago
Peterson Photoshop sold $1,300 in gift cards on a special promotion on October 15, 2021, and sold $1,950 in gift cards on anothe
Anastaziya [24]

Answer:

$1,300

Explanation:

Given that,

On November 15, 2021

sold gift cards = $1,950

Of the gift cards sold in November,

Redeemed in November = $195

Redeemed in December = $455

Therefore, the deferred revenue is as follows

= November sales - Redemptions

=  November sales - (Redeemed in November + Redeemed in December)

= $1,950 - ($195 + $455)

= $1,950 - $650

= $1,300

4 0
3 years ago
A shift in the demand curve can be caused by a change in one of the determinants of demand.
Dominik [7]

Answer:

A- A change in the technology used by firms.

Explanation:

A change in technology can affect the demand of products and services.  It can lead to the increased demand for a certain product, reducing the demand for an older product.

With the use of technology to upgrade products and services, demand curves will continually shift, according to preferences of customers.

Technology could be used by firms to produce upgrades and newer variations of products at more favorable prices for customers  than existing products. This leads to competition and the demand for the newer device goes up since people see the new product as 'getting more for less'. A good example is computers and tablets. Tablets which could match up with the work of computers were produced at lower prices. This shifted the demand towards tablets, making computers more obsolete.

3 0
3 years ago
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