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3 years ago

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Which of the following is the best description of reconciling a bank account? A. Comparing your own records to bank records B. A

dding money to your bank account C. Comparing your bank account to your earnings D. Closing your bank account

2 answers:

sasho [114]3 years ago

7 0

Answer:

B

Explanation:

asambeis [7]3 years ago

6 0

Answer:

The answer is the Closing your bank

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The following information was reported by Young's Air Cargo Service for 2017: Net fixed assets (beginning of year) $ 1,860,000 N

Degger [83]

Answer:

1.56

Explanation:

Data provided in the question:

Net fixed assets (beginning of year) = $1,860,000

Net fixed assets (end of year) = $2,280,000

Net operating revenues for the year = $3,230,000

Net income for the year = $1,600,000

Now,

company's fixed asset turnover ratio for the year

= Net operating revenues ÷ Average total assets

Also,

Average total assets

= [Net fixed assets (beginning of year) + Net fixed assets (end of year) ] ÷ 2

= [ $1,860,000 + $2,280,000 ] ÷ 2

= $2,070,000

Therefore,

Company's fixed asset turnover ratio for the year

= $3,230,000 ÷ $2,070,000

= 1.56

3 0

3 years ago

Which of the following is the correct statement about fixed costs? The fixed cost per unit will decrease when volume increases.

Montano1993 [528]

Answer:

The correct statement is: "The fixed cost per unit will decrease when volume increases."

Explanation:

Total fixed costs remain the same within a relevant range, but the <em>fixed cost per unit</em> decreases as production increases, because the same fixed costs are spread over more units produced.

6 0

3 years ago

Which activity is an example of a time-based goal? A. Catherine plans to learn to play the guitar in the next few years. B. Davi

frez [133]

Answer: C. Farah wants to obtain her college degree in four years

A time bound goal has a specific, measurable time-frame within which a specific goal has to be achieved; it can also set as a specific target to be achieved at periodical intervals.

Amongst the options given, only option C has a specific, measurable and well-defined time frame within which a specific goal is set to realized.

6 0

3 years ago

Read 2 more answers

Mr. Bailey would like to gift $515,000 (FMV) of appreciated property (basis $200,000) to his son. Mr. Bailey doesn't want to use

Oliga [24]

Answer:

He should set a grantor retained annuity trust (GRAT).

Explanation:

Mr. Bailey would be the grantor that transfers the asset into the GRAT, but retains the right to receive annuity payments for a number of years. The IRS has set a minimum annuity corresponding to the Section 7520 rate, during the last two years the rate has varied from 2-3%. When the trust expires (pays all the annuities), the beneficiary gets the asset tax free.

Since the grantor is giving up an asset but in exchange is receiving an annuity form it, there is no applicable gift tax, it is called a zeroed-out GRAT.

This type of grant makes sense only if the grantor believes that the future value of the asset will be higher than the current value, since the annuity is based on the current value. In this case, Mr. Bailey would receive payments based on a $200,000 value, but the property's fair market value is already higher and should increase as time passes.

7 0

3 years ago

Suppose Capital One is advertising a 60-month, 5.89 % APR motorcycle loan. If you need to borrow $ 9 comma 400 to purchase your

xz_007 [3.2K]

Answer:

My Monthly payment will be $181.25

Explanation:

A loan provide funds for acquisition of asset and for investment purposes and its allows the arrangement for flexible repayments throughout the loan period based on terms agreed between the lender and borrower.

Following Formula used to calculate the installment payment.

Loan = Payment x $\frac{(1-(1+r)^-n)}{r}$

9,400 = Payments x $\frac{(1-(1+0.0589/12)^-60)}{0.0589/12}$

9,400 = Payment x 51.863

Payments = 9,400 / 51.863

Payments = 181.25

8 0

3 years ago