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3 years ago

What is the impact on the accounting equation when an accounts receivable is collected?

1 answer:

5 0

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Answer for your question!

Because one asset increases and another decreases by the same amount, the accounting equation remains unchanged and in balance, suggests Principles of Accounting. For example, if you collect $100 from an account receivable, cash increases by $100 and accounts receivable decreases by $100.

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Assume rocky mountain railway is considering hiring a reservations agency to handle passenger reservations. The agency would cha

meriva

Alright, so we start out with $12000, and we'd add from there. Since we add 1$ for every passenger, our equation with p being the number of passengers would be 1*p (e.g. for 1 passenger we have 1*1=1, 2 passengers we have 1+1(2 times)=2). Substituting 50,000 for p, we have 1*50,000=50,000. Next, we have to add 12,000 to that (as that's a flat fee) to get 50000+12000=62000

6 0

3 years ago

mike operates a hair cutting salon that specialize in providing quick walk in service just about any type of hair. He deals with

Viefleur [7K]

<u>Complete Question:</u>

Mike operates a hair-cutting salon that specializes in providing quick walk-in service for just about any type of haircut. He deals with customers as they walk in the door. This includes writing down the customer's name and what they desire in terms of haircut, wash, dry, and so on. This process usually takes two minutes. If no hair stylist is available, the customer then goes to the waiting area, where he/she is processed on a first-come, first-serve basis. The salon has five hair stylists who work eight hours each day. It takes, on average, 25 minutes for a stylist to greet the customer, wash and/or cut his hair, and wish him a fond farewell. Then Mike completes the process by taking the customer's money and telling him about the satisfaction guarantee offered by the shop. This final set of steps takes two minutes on average.

Requirement 1. Assuming that the waiting area always has at least one customer in it, how many customers on average can Mike's salon process in a day (assuming no problems in utilization, quality, or efficiency)?

Answer:

96 Customers

Explanation:

The time taken to process one customer includes:

Time taken by each Hair stylist to tailor the hairs of customer is 25 Minutes

Now

Time taken to process total customer in a day = Total hours available / Total time consumed by each customer

Here

Number of stylists are 5 and working hours are 8 Hrs per stylist which means total number of hours are 40 Hours per day.

By putting values, we have:

Time taken to process total customer in a day = 40 Hours / (29/60)

= 96 customers per day

8 0

3 years ago

In an efficient market, professional portfolio management can offer all of the following benefits except which of the following?

konstantin123 [22]

Answer:

A. A superior risk-return trade-off

Explanation:

In a normal and efficient market a professional portfolio management service is able to offer Low-cost diversification, A targeted risk level, and even a Low-cost record keeping. What they cannot offer is a superior risk-return trade-off, this is because risk-return holds a very correlated trade-off in which the higher amount of risk your portfolio holds the higher returns you can get from it, but this does not get rid of the risk which can cause you to lose all of your money. Therefore "superior" is unnachievable.

6 0

3 years ago

At an activity level of 9,300 machine-hours in a month, Curt Corporation's total variable production engineering cost is $766,32

rewona [7]

Answer:

$102.3 per machine hour

Explanation:

We can compute the total production engineering cost per hour by using the following equation;

Cost per machine hour = (Fixed cost + Variable cost) / Total machine hours

But first, we need to calculate variable cost at 9,600 hours;

= $766,320 × 9,600hr / 9,300hr

= $791,040

Now, cost per machine hour

= $191,040 + $791,040 / 9,600hr

= $982,040 / 9,600hr

= $102.3 per machine hour

5 0

2 years ago

A new tax business, Taxes Done Right, will purchase a copying machine. After speaking with their financial advisor, they find th

Juli2301 [7.4K]

Answer: $2,845.57965

The principal to be deposited semiannually would be $2,845.58 (rounded to 2 decimal places)

Explanation:

Using compound formula below

A = p (1 + r/n)^nt

A =amount= $3,300

r = rate = 5% = 5/100 = 0.05

n = number of compounding rate (semiannually) =2 interest payments a year

t = time in years= 3

3,300 = p (1 + 0.05/2)^2(3)

3,300 = p (1 + 0.025)^6

3,300 = p (1.025)^6

3,300 = 1.15969342p

Divide both sided by 1.15969342

p = $(3,300/1.15969342)

p = $2,845.57965

p ≈$2,845.58 rounded to 2 decimal places.

4 0

2 years ago