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3 years ago

What are some common reasons to keep records

1 answer:

3 0

It’s very important to your business. Good records will help you do the following: Monitor the progress of your business.

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Jordan has the following assets and liabilities: Two cars $10,000 House $200,000 Mortgage $100,000 Cash $1,000 Car loans $3,000

kirill [66]

Answer: B. increase to $209,000;increase to $209,000

Explanation:

If he uses that money to pay off his mortgage, his wealth would increase to $209,000 if he puts that money in his checking account, his wealth would increase to $209,000.

A person's wealth is calculated by deducting their liabilities from assets. In this case Jordan's wealth is;

= 10,000 + 200,000 + 1,000 + 2,000 - 100,000 - 3,000 - 1,000

= $109,000

If he pays off the Mortgage his debt will reduce by $100,000 which will increase his wealth to $209,000.

If he puts the money in his checking account, his assets will increase by $100,000 which will bring his wealth to $209,000 as well.

7 0

3 years ago

A library shelving system has a fi rst cost of $20,000 and a useful life of 10 years. The annual maintenance is expected to be $

Debora [2.8K]

Answer:

The benefit cost ratio is 1.564

Explanation:

The benefit-cost ratio is the ratio of the present value of benefits to the present value of costs. It is thus calculated as follows.

Benefit-cost ratio = Present value of benefits / Present value of costs

Present value of costs = $20,000 + $2,500 (P/A, 10%, 10 years)

= $20,000 + $15,361

= $35,361

Present value of benefits = $9,000 (P/A, 10%, 10 years)

= $9,000 x 6.145

= $55,305

Benefit-cost ratio = $55,305 / $35,361

= 1.564

3 0

3 years ago

The market used to calculate the CPI is 3 units of pork and 4 unit of corn. In 2005, pork cost $20 per pound and corn cost $12 p

Ede4ka [16]

Answer:

The answer will be 136.11 

Explanation:

Because since the cost of the basket in 2005 is = (3x20) + (4 x 12) = 108; And the cost of basket in 2006 is = (3x25) + (4 x 18) = 147

To calculate the CPI,

Put a sampling of product prices from a previous year. 
Then, put the current prices of the same items together. 
Divide the current total prices by the old prices and then subtract the sum by 100.

The Consumer Price Index (CPI) for 2006 = (147/108) x 100 = 136.11

7 0

3 years ago

The automobile will not remain the primary source of transportation true or false

Ivenika [448]

I think the correct answer would be false. The automobile will remain the primary source of transportation. As we can see today, almost all of the people use automobile to go to different places. As we see in the road, different vehicles are present. Also, the automobile industry, recently, is a booming industry. We have different models, colors, brands and specifications of the vehicles. I think the use of automobiles as the primary source of transportation would still go for many years as it is the most convenient and comfortable transportation as compared to others like bicycle, train and motorcycle.

8 0

3 years ago

Rich and Lucy were married for 52 years. Rich died on May 9, 2020. Lucy has no dependents, and she did not remarry. The correct

KATRIN_1 [288]

Based on the year that Rich died and the year that Lucy is filing her taxes, the most favorable filing status is Married filing jointly. 

Current tax laws are such that if a person loses a spouse in a certain year and does not remarry in that year, they can file in a joint manner with their now late spouse.

Rich died in 2020 and Lucy did not remarry. Lucy's 2020 returns can therefore be filed as a joint filing with Rich even though he is no longer alive.

In conclusion, the correct answer is option A.

Find out more about joint filing at brainly.com/question/2433386.

4 0

3 years ago

Read 2 more answers