All categories

3 years ago

The first step of the budgeting process is to:

Business

1 answer:

stiv31 [10]3 years ago

6 0

Answer:

b) prepared list of each type of income and expense that will be part of the budget.

Explanation:

A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.

The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.

The final step by the management of an organization in the financial decision making process is making necessary adjustments to the budget.

The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

You might be interested in

To help finance a new plant, Roxxon, Inc. just sold a noncallable 40 year bond. This $1,000 par bond sells for $1,155 and has a

murzikaleks [220]

Answer:

4.96%

Explanation:

In order to determine the component after-tax cost of debt first we need to compute the before tax cost of debt by applying the RATE formula which is to be shown in the attachment below:

Given that,

Present value = $1,155

Future value or Face value = $1,000

PMT = 1,000 × 8.25% ÷ 2 = $41.25

NPER = 40 years × 2 = 80 years

The formula is shown below:

= Rate(NPER;PMT;-PV;FV;type)

The present value come in negative

So, after applying the above formula

1. The pretax cost of debt is 3.54% × 2 = 7.08%

2. And, the after tax cost of debt would be

= Pretax cost of debt × ( 1 - tax rate)

= 7.08% × ( 1 - 0.30)

= 4.96%

8 0

4 years ago

A dog grooming business is walking through the target market defining process and is now asking questions about its potential cu

siniylev [52]

Answer:

Explanation:

4 0

4 years ago

Investors in middle management are most likely to be investing because they're nearing retirement or

Natali [406]

Answer:

The can offer a high ROI

3 0

3 years ago

New issues of short term municipal notes and bonds are available in which form? a bearer b book entry c registered to principal

klasskru [66]

Municipal notes are typically issued in advance of tax payments, earnings, or bond sale revenues.

All new debt issues only come in the book entry form.

<h3>What is meant by municipal notes?</h3>

Municipal notes are typically issued in advance of tax payments, earnings, or bond sale revenues. Compared to municipal bonds, municipal notes are less vulnerable to changes in interest rates.

Municipal securities, sometimes known as "munis," are bonds issued by states, cities, counties, and other municipal organizations to obtain funds for the construction of public infrastructure such as roads and schools.

Municipal bonds, often known as "munis," are debt securities issued by states, cities, counties, and other local bodies to pay for ongoing expenses as well as to fund capital projects like constructing schools, roads, or sewer networks.

Municipal bonds provide stability for your capital with low default rates, even though they may have lower interest rates than riskier investments like corporate bonds or stocks. Additionally, interest on munis is not subject to federal taxes, which makes it a desirable investment.

Therefore, the correct answer is option b) book entry

To learn more about municipal bonds refer to:

brainly.com/question/28066197

#SPJ4

4 0

2 years ago

Brown Co. pays weekly salaries of $10,500 on Friday for a five-day work week ending on that day. Assuming the end of the account

algol [13]

Answer:

Explanation:

The adjusting entry is shown below:

Wages Expense A/c Dr $6,300

To Wages payable A/c $6,300

(Being the wages are adjusted)

The computation is shown below:

= Five days salaries ÷ number of days in a week × given days

= $10,500 ÷ 5 days × 3 days

= $6,300

So, the wages expense is debited for $6,300 and wages payable is credited for $6,300

4 0

4 years ago