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3 years ago

Schultz Tax Services, a tax preparation business had the following transactions during the month of June:

Business

1 answer:

Nastasia [14]3 years ago

8 0

Answer:

$29,280

Explanation:

It is important to consider only cash transactions when preparing a Cash Reconciliation.

Schultz Tax Services Cash Reconciliation

Cash, June 1 $25,000

Plus: cash receipts for June

Receipts for Accounting Services $3,000

Receipts from Accounts Receivables $3,800 $6,800

Minus: cash payments for June

Advertising expense paid $800

Dividends paid $1,500

Telephone expense paid $220 ($2,520)

Cash, June 30 $29,280

Conclusion :

The balance of Cash at June 30 is $29,280

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Compute the annual dollar changes and percent changes for each of the following accounts. (Round percent change to one decimal p

elixir [45]

Answer and Explanation:

The computation of annual dollar changes and percent changes for each of the following accounts is shown below:-

Particulars 2015 2014 Changes in dollar Percent change

a b c = (a - b) d = c ÷ b

Short term

investments $380,168 $239,377 $140,790 58.82%

Accounts

receivable $102,276 $105,903 -$3,627 -3.42%

Notes

payable 0 $93,973 -$93,973 -100%

4 0

3 years ago

The plaintiff in a product liability lawsuit has suffered $100,000 worth of damages from an automobile accident. A defect in man

OleMash [197]

Answer:

$60,000

Explanation:

Data provided in the question:

Damages suffered by Plaintiff from an automobile accident = $100,000

Responsibility of manufacturer in the accident = 60 percent

Responsibility of plaintiff in the accident = 40%

Now,

Under the doctrine of contributory negligence

The manufacturer will pay

= Damages suffered × Responsibility of manufacturer

= $100,000 × 60%

= $60,000

5 0

3 years ago

If an organization is committed to ethical business conduct that commitment should remain constant

Volgvan

Yes, the above statement is true. If an organization is committed to ethical business conduct that commitment should remain constant. Although several firms and many employees remain constant in their ethical commitment and values, variances can happen.

8 0

3 years ago

Joel operates his business, carson collectibles, by himself. he has made no election with his state regarding his business. what

Paha777 [63]

Joe's business is most likely a type of sole proprietorship. Sole proprietorships are usually ran by one person who accounts for all of the business expenses as part of their personal taxes so there is no difference between personal and business. This form of business also does not need to file any paperwork with the state. The owner just needs a business license.

3 0

3 years ago

An opportunity cost is the a. monetary price paid for a good or service. b. cost of finding the lowest price for a product. c. l

Bess [88]

Answer:

The opportunity cost is e. cost of a purchase or decision as measured by what is given up.

Explanation:

The opportunity cost can be defined as the cost of giving up the benefits associated with the next best alternative that is given up. It is also referred to as the loss of potential gain that is given up when one option is chosen over the other.

For example, If you have a choice of working at a company for salary of $10000 per year or starting your own business that is expected to earn $15000 per year, the opportunity cost of choosing to start your own business is the $10000 per year from the job that is given up.

6 0

3 years ago