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3 years ago

1) What does living paycheck to paycheck mean?

Business

1 answer:

densk [106]3 years ago

4 0

1) When all the money you make in one paycheck goes only into staying on top of your bills

2) Create a list of mandatory things like electric, water and rent and make sure to "pay yourself first" ~Dave Ramsey

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4. Tim moves to a different state and buys a house in his new city. His new house is bigger than the apartment he lived in befor

Rufina [12.5K]

Answer:

Property tax is progressive

Sales Tax is regressive

A progressive tax is one that takes a higher proportion of revenue from high-income people than it does from low-income people. A regressive tax is one that takes a higher percentage of low-income people's income than it does from high-income people.

Explanation:

3 0

3 years ago

Explain the use of NBT

Natalija [7]

The National Benchmark Tests (NBTs) are assessments for first-year applicants into higher education institutions. The NBTs were designed to measure a writer's ability to transfer understanding of Academic Literacy, Quantitative Literacy and Mathematics to the demands of tertiary coursework

3 0

3 years ago

Read 2 more answers

When originally purchased, a vehicle costing $25,740 had an estimated useful life of 8 years and an estimated salvage value of $

Rudiy27

Answer:

Annual depreciation= $5,660

Explanation:

Giving the following information:

Purchase price= $25,740

Salvage value= $3,100

First, we need to calculate the accumulated depreciation before the change in useful life:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (25,740 - 3,100) / 8

Annual depreciation= $2,830

Accumulated depreciation= 2,830*4= $11,320

Now, we can calculate the new depreciation expense:

Annual depreciation= (25,740 - 11,320 - 3,100) / 2

Annual depreciation= $5,660

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3 years ago

You deposit $4000 into a savings account. the account earns 2.75% simple interest. how long will it take to earn $220 in interes

Dovator [93]

Simple interest means that you only need to find the interest once and then keep adding it on every year. In this case, the interest would be 2.75% of $4000 every year, which is 110.

In 2 years, you'll have 220 because every year you gain 110 in interest.

6 0

3 years ago

Some of the transactions of Torres Company during August are listed below. Torres uses the periodic inventory method.

Nadya [2.5K]

Answer:

Purchase 12000 debit

Accounts Payable 12000 credit

--to record purchase--

Accounts Payable 1200 debit

Returns&Allowance 1200 credit

--to record returned goods--

Purchase 16000 debit

Accounts Payable 16000 credit

--to record purchase--

Purchase 20000 debit

Accounts Payable 20000 credit

--to record purchase--

Account Payable 16,000 debit

Purchase Discount 160 credit

Cash 15,840 credit

-to record payment within--

SECOND METHOD:

Purchase 11,760 debit

Accounts Payable 11,760 credit

--to record purchase--

Accounts Payable 1,176 debit

Returns&Allowance 1,176 credit

--to record returned goods--

Purchase 15,840 debit

Accounts Payable 15,840 credit

--to record purchase--

Purchase 19,600 debit

Accounts Payable 19,600 credit

--to record purchase--

Account Payable 16,000 debit

Cash 15,840 credit

-to record payment within--

interst expense 216 debit

account payable 216 credit

--to record interest incurred--

Explanation:

As we use periodic system we calculate the inventory and COGS at the end of the period so we use purchase and returns accounts rather than adjusting inventories in every transactions.

In the second method we use itnerest expense when the discount is loss.

interest incurred for the period:

(12,000 - 1,200) x 2% = 216

The secodn purchase at the end of the monthcan be paid within discount period therefore, we do not recognize interest expense yet.

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3 years ago