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3 years ago

A general rule in investing is to buy high, sell high 1) true 2) false

Business

1 answer:

Otrada [13]3 years ago

3 0

Answer:

Im pretty sure the answer is false

Explanation:

this is because when investing you want to get as much money as possible so you would buy it super cheap and sell it high

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On December 29, 2015, Patel Products, Inc., sells a delivery van that cost $20,000. After recording the entry to bring the accum

IRISSAK [1]

Answer:

cash 1,500 debit

accumulated depreciation- VAN 18,000 debit

loss at disposal 500 debit

VAN 20,000 credit

Explanation:

The journal entry must remove the van and their associate account from the company's books.

Therefore, will write-off van account and the accumulated depreciation.

Patel is receiving cash by the amount of 1,500 dollars. It will post the receipts as a debit to this account.

The difference will be considered gain/loss at disposal.

In this case, as the amount received 1,500

is lower than book value: 20,000 - 18,000 = 2,000

it will be a loss at disposal

6 0

3 years ago

The Hernandez family budget is shown in the graph. A circle graph titled Family Budget. Housing is 23 percent, Food is 21 percen

trapecia [35]

Answer:

The answer is B

Explanation:

i took the test

7 0

3 years ago

Which of the following software maintenance steps erases gaps caused by deleting files from the hard drive? UPDATE SYSTEM SOFTWA

Lynna [10]

Defragging would be the correct answer

8 0

3 years ago

Read 2 more answers

Office Palace, Inc., leased an all-in-one printer to a new customer, Ashley, on December 27, 2018. The printer was to rent for $

wel

Answer:

d. $1,200 in 2017, if Office Palace is an accrual basis taxpayer

Explanation:

The unearned income, such as rent is generally taxed in the year in which it was received regardless of the accounting method the tax payer uses and her Office Palace, Inc. received rent for first and last month of $ 600 each on December 27,2017 so it need to recognised as lease income for the year 2017 .

3 0

4 years ago

Use the information from the balance sheet and income statement below to calculate the following ratios:

Marina86 [1]

Answer:

a. Current Ratio = current assets / current liabilities = 190,000 / 153,000 = 1.24

b. Acid-test ratio = (current assets - inventory) / current liabilities = (190,000 - 50,000) / 153,000 = 0.92

c. Times interest earned = EBIT / interest expense = 65,000 / 8,000 = 8.13

d. Inventory turnover = COGS / inventory = 90,000 / 50,000 = 1.8

e. Total asset turnover = net sales / total assets = 210,000 / 525,000 = 0.4

f. Operating profit margin = operating income / total sales = 65,000 / 210,000 = 0.31

g. Days in receivables = (accounts receivables / total sales) x 365 = (30,000 / 210,000) x 365 = 52.14 days

h. Operating return on assets = operating income / total assets = 65,000 / 525,000 = 0.12

i. Debt ratio = total liabilities / total assets = 273,000 / 525,000 = 0.52

j. Fixed asset turnover = total sales / fixed assets = 210,000 / 335,000 = 0.63

k. Return on equity = net income / total equity = 45,030 / 252,000 = 0.18

4 0

3 years ago