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Romashka-Z-Leto [24]
3 years ago
5

Ted begins the month with a checking account balance of $1,400. He

Business
1 answer:
Tcecarenko [31]3 years ago
3 0

Answer:

$1,486.29

Explanation:

To calculate Ted's account balance at the end of the month:

First, deduct the checks:

1400 - 350.45 - 200.01 - 11.53 - 68.10 - 177.37 = 592.54

Now, add the deposits:

592.54 + 450 + 450 = 1,492.54

The bank charges him a $0.25 fee for every check. He wrote five checks, so his fee is:

0.25 * 5 = 1.25

Deduct the fee from his account:

1,492.54 - 1.25 = 1,491.29

Finally, deduct the monthly account fee:

1,491.29 - 5 = 1,486.29

The first option is the correct option.

Hope this helps :)

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Violet purchased a tract of land for $100,000. She quit her $30,000-a-year job as a postal employee and opened a skeet shooting
kow [346]

Answer:

The Business profit = $30,000

Economic profit = Loss of $10,000

Explanation:

Data provided in the question:

Cost of land purchased = $100,000

Salary = $30,000

Revenue generated = $30,000

Discount rate = 10%

Now,

The Business profit =  Net revenue generated

i.e

The Business profit = $30,000

Economic profit

= Business profit  - Interest received on land - Implicit cost (i.e the salary)

or

Economic profit = $30,000 - 10% of $100,000 - $30,000

= - $10,000

here, the negative sign of the value of economic profit depicts the loss i.e there is loss of $10,000

3 0
2 years ago
Now Inc. released its annual results and financial statement. Grace is reading the summary in the business pages of today's pape
Goryan [66]

Answer:

c. $71 million

Explanation:

The net income and dividends are the factors responsible for increase an decrease in retained earnings. Net income is added to the retained earnings balance while dividend is deducted from it.

Given the following information about  NOW Inc,

net income = $152 million

Opening retained earnings balance = $459 million

Closing retained earnings balance = $540 million

$459 million + $152 million - Dividends = $540 million

Dividends = $459 million + $152 million - $540 million

Dividends = $71 million

Option c. $71 million

5 0
3 years ago
Make a prioritized task work sheet
Taya2010 [7]

Maybe this can help you with that :0


8 0
3 years ago
The following lots of Commodity Z were available for sale during the year. Beginning inventory 7 units at $49 First purchase 18
yuradex [85]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

Beginning inventory 7 units at $49

First purchase 18 units at $50

Second purchase 53 units at $59

Third purchase 18 units at $64

The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year.

To calculate the ending inventory using the LIFO (las-in, first-out), we need to use the cost of the firsts units incorporated to inventory:

Ending inventory= 7*49 + 16*50= $1,143

3 0
3 years ago
TB MC Qu. 04-99 K. Canopy, the proprietor of Canopy Services... K. Canopy, the proprietor of Canopy Services, withdrew $6,200 fr
Svetlanka [38]

Answer:

Debit K Canopy, Capital $6,200;

Credit K Canopy Withdrawals $6,200

Explanation:

With regards to the above, the entries to close the withdrawals account at the end of the year would be;

Debit K Canopy, Capital $6,200

Credit K Canopy Withdrawals $6,200

Capital is being debited because cash is being taken from the business, hence it will be debited, while withdrawal account would be credited since its receiving cash.

4 0
2 years ago
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