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
olga_2 [115]
3 years ago
11

Check the correct category for each of the following items. Note: for purposes of this exercise, consider cash in and out for th

is couple regardless of whether the item is for personal or business use. Cash In/Income Cash Out/Expense Cost of business trip State tax liability Clothing purchases Once expenses have been identified, they can be categorized as either fixed expenses or variable expenses. For example, your mortgage would be considered a expense, because . Conversely, grocery bills would be considered , because the actual amount is
Business
1 answer:
liraira [26]3 years ago
7 0

Answer:

1. The correct category for each of the following items:

Cash In/Income:

Personal income

Business Income

Cash Out/Expense:

Cost of business trip = variable

State tax liability = fixed

Clothing purchases = variable

2. For example, your mortgage would be considered a fixed expense, because the total amount does not vary.  Conversely, grocery bills would be considered variable, because the actual amount is not fixed but varies.

Explanation:

Variable cost or expense has a fixed cost per unit, with the total amount varying, depending on the units or quantities consumed.  Fixed cost does have a fixed total amount within the relevant range, but the cost per unit varies.

You might be interested in
Deal Leasing leased equipment to Hand Company on January 1, 2021. The leased equipment's book value is $420,000 with no estimate
anygoal [31]

Answer:

The requirements are missing, so I looked for a similar question. This is a financial lease since the PV of the lease payments represents 97% of the asset's value.

January 1, 2021, equipment leased from Deal leasing

Dr Right of use asset 405,541.20

    Cr Lease liability 405,541.20

the right of use asset = PV of lease payments = $60,000 x 6.75902 (PV annuity due, 10%, 10 periods) = $405,541.20

January 1, 2021, first lease payment

Dr Lease liability 60,000

    Cr Cash 60,000

December 31, 2021, depreciation expense on leased asset

Dr Depreciation expense 40,554.12

    Cr Accumulated depreciation 40,554.12

depreciation expense = $405,541.20 / 10 = $40,554.12

December 31, 2021, interest expense on asset lease

Dr Interest expense 34,554.12

    Cr Interest payable 34,554.12

interest expense = ($405,541.20 - $60,000) x 10% = $34,554.12

5 0
3 years ago
Describe the origins, purposes, and practices of the "long drive" and the "open range" cattle industry. What ended this brief bu
Snezhnost [94]

Answer:

The cattle industry began in the far west and furnished the great plain areas with livestock. The cattle industry progressively lost its relevance because of the excessive westward expansion, resulting in competition for the industry. There was too much cattle, but not enough food and land to sustain such great populations of livestock.

4 0
3 years ago
If the stadium made $2,150,000 last year for sports events but only made $1,650,000 this year, what is the percentage decrease i
stellarik [79]

23% decrease.


We can do this by simply dividing 1,650,000 by 2,150,000. That would give us 0.7674. Multiply that by 100 and you have 76.74%.

However, this is the percent amount of how 1,650,000 is out of 2,150,000. So, we need to simply minus this answer by 100 to get 23.26, or 23%.

6 0
3 years ago
Read 2 more answers
Which of the following systems would work best for a very standardized product that has a fairly high and predictable demand? a.
Margaret [11]

Answer:

The answer is b. make-to-stock system

Explanation:

Make-to-stock system  is a build-ahead production approach in which production plans may be based upon sales forecasts and/or historical demand. It is a traditional production strategy that is used by businesses to match the inventory with anticipated consumer demand.

5 0
3 years ago
g Cabal Products is a division of a major corporation. Last year the division had total sales of $10,333,500, net operating inco
timama [110]

Answer:

2.49

Explanation:

The division’s turnover is computed using the formula of turnover ratio. Divide the total sales portion of the division with the average operating assets that gives the division’s turnover.

Division Turnover= Sales / Average Operating Cost

DT= $10,333,500 / $4,150,000

DT= 2.49

The division's turnover is closest to 2.49

6 0
3 years ago
Other questions:
  • In considering the decision to adopt a dog, indicate which of the following is an example of a private cost, a private benefit,
    15·2 answers
  • How are the layers of the atmosphere and the hydrosphere different?
    10·1 answer
  • Which leader behavior is most appropriate for a group of employees who are working together for the first time and are eager to
    11·1 answer
  • International experience is valuable for mid-career individuals who aspire to higher positions and greater responsibility, but n
    15·1 answer
  • The management accountant at Woodhaven Cycle Shoppe developed a budget to establish the sales goals at the store in 2012. In 201
    7·1 answer
  • Which of the following would be considered a sound piece of advice to help build your self-confidence?
    12·2 answers
  • What are chemical contaminants?
    10·2 answers
  • Claudia, a legal assistant, has been vested by her employer after having worked with the employer for ten years. This implies th
    8·1 answer
  • What term describes a ban or restriction on trade with another country?
    10·2 answers
  • what is the policy that requires a student to maintain a 2.0 gpa and earn 67% of the total hours they attempt?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!