1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Damm [24]
3 years ago
15

Why is it important to keep your own financial records?

Business
1 answer:
Serhud [2]3 years ago
4 0

Answer:

You need good records to prepare accurate financial statements. These include income (profit and loss) statements and balance sheets. These statements can help you in dealing with your bank or creditors and help you manage your business

Explanation:

You might be interested in
When budgeting for your immediate needs, you should divide them into what two categories of expenses
Usimov [2.4K]
Fixed expenses and flexible expenses or Discretionary expenses
5 0
3 years ago
Read 2 more answers
Mackay gives a list of items (starting with "Two lasts of wheat, 448 florins") that were traded for one tulip root. He could hav
Oksana_A [137]

Answer:

For a better valuation of trade.

Explanation:

Mackay could have left out this list and simply said that the root cost 2500 florins. But he gave the list to have a better understanding of the valuation of trade. Now, the cost could have simply being layed out. But then this list helped helped to give a better perspective of the valuation of the bulb and also how it could be used to replace money

8 0
3 years ago
Quanti Co., a calendar-year taxpayer, purchased small tools for $5,000 on December 21, Year 1, representing the company’s only p
Jlenok [28]

Answer: Option A is the right answer

Explanation:  Evidences in most cases has shown that MACRS  is all about applying convention for one and a half year on assets. So when an entities owns 35-40% of an asset in forth quarter, Mid quarter convention will  be applied for only one half of the last quarter, logically one and half month in the last quarter.

6 0
3 years ago
Investigate any Five criteria that the project must demonstrates
Andru [333]

The project must demonstrate, one, the problem you are trying to solve. Two, the solution of the problem, how innovative it is and compelling. Three, what did you learn throughout the project. Four, accuracy of the conclusion of the project. And lastly, how were you able to effectively present and demonstrate the project to your audience.

4 0
3 years ago
Check my work Check My Work button is now enabled3Item 5Item 5 10 points Social Media, Inc. (SMI) has two services for users. To
Nimfa-mama [501]

Answer:

a. Predetermined administration costs - $ 54 per engineering hours

b. Profit per Toot  - $ 648,075

   Profit per Tix       $ 326,450

Explanation:

Computation for predetermined overhead rate for admin costs

Estimated administration costs                                              $ 629,100

Engineering hours - Toot -  6,825

Engineering hours - Tix    -  <u>4,825</u>

Total engineering hours                                                              11,650

Predetermined rate for administration costs

$ 629,100/ 11,650 hours                                                       $ 54 per hour

Computation of total profit for each service

Administration costs - Toot = 6,825 hours * $ 54 per hour = $ 368,550

Administration costs - Tix =   4,825 hours * $ 54 per hour = $  260,550

                                                              Toot                Tix

                                                                 $                    $

Revenues                                            <u>1,350,000</u>       <u>1,040,000</u>

Engineering costs                                 333,375           453,000

Allocation of admin costs                     <u>368,550 </u>         <u>260,550</u>

Total costs                                              <u>701,925 </u>          <u>713,550</u>

Profit per service                                    648,075          326,450                          

5 0
3 years ago
Other questions:
  • The following information is available for Windsor, Inc. for the year ended December 31, 2017. Beginning cash balance $ 45,720 A
    7·1 answer
  • Eric wants to start a business. he is attracted to the idea of being his own boss, and wants to get started with a minimum of ex
    14·1 answer
  • _____ is probably the most important factor in determining the promotional mix. Select one:
    14·1 answer
  • Sales $9,600,000 Variable Expenses 6,810,000 Contribution Margin 2,790,000 Fixed Expenses 1,926,000 Net Operating Income $ 864,0
    7·1 answer
  • When a nation removes a tariff on a product, this policy action rev: 06_20_2018 Multiple Choice benefits domestic producers of t
    13·1 answer
  • Goodmark Company produces two types of birthday cards: scented and regular. Expected product data for the coming year are given
    9·1 answer
  • Firms outside of trading areas run the risk of being shut out of the single market by the creation of a Multiple Choice ""trade
    7·1 answer
  • A new business is likely to need what bank service(s)? *
    7·1 answer
  • How To Get To London Southend Airport Taxi?
    13·1 answer
  • Income __________ when there is zero beginning inventory and all inventory units produced are sold.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!