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vitfil [10]
2 years ago
6

Interest earned on a savings account is _____.

Business
1 answer:
kondor19780726 [428]2 years ago
7 0

Correct
b. the percentage a financial institution pays you to borrow your money
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Custom Homebuilders (CH) designs and constructs high-end homes on large lots owned by customers. CH has developed several formul
Alexandra [31]

Answer:

$981,000 - Total Building Cost

Explanation:

To answer this question, we were told that the customer wants to build a moderate 3,800 square foot home. However, although it says with no utilities, utility cost will be applicable because it represents what is needed by the builders and engineers to get their work done on the vacant lot of land.

Therefore,  the cost to build = Administrative cost +  Building cost (moderate) + appliances cost + utilities cost

= $40,000 + (220 x 3800 square foot) + $45,000+ $60,000

=$40,000 + $836,000 + $45,000+ $60,000

= $981,000

6 0
3 years ago
Waddell Company had the following balances in its accounting records as of December 31, 2018
Molodets [167]

1. The  two additional adjusting entries   are:

•Rent Expenses $5,225

•Revenue $3,700

2.  Balance sheet reported  is $42,000

3.  Netnet cash flow from operating activities  is $37,500

4. Rent expenset is $5,225$5,225

5.  Totaltotal liabilities is $23,770

6.  Supplies expense   $800

7.    Unearnedunearned revenue  is $3,700

8.    Netnet cash flow  is ($10,000)

9.   Totaltotal expenses is $24,125

10.   Total  service revenue is $71,700

 11.   Cash cash  Cash flows from financing activities  is $45,600

12.   Netnet income  is $26,216

13.   Retainedretained earnings  is $43,216

1. Additional adjusting entries that must be made are:

•Part of the Prepaid rent of the amount of $5,225 will be  allocated to the rent expense

Rent Expenses $5,225

($5,700 x 11/12 = $5,225)

•Part  of the revenue received in advance of the amount of  wi$3,700ll  be recognized as revenue

Revenue

($7,400 x 6/12 = $3,700)



2. Beginning balance $32,000

Add Cost of Land purchased $32,000

Less Cost of Land sold ($22,000)

Ending balance $42,000

3.Cash received from customers

Received cash in advance as a retainer for services to be performed monthly over the coming year $7,400

Received cash collections from accounts receivable $54,000

Cash Paid to Suppliers:

Paid cash in advance for a one-year lease for office space $(5,700)

Made a cash payment on accounts payable $(20,000)

Cash flow from operating activities $35,700

4.Rent for 12 months $5,700

Less Rent per months $475

($5,700/12)

Rent expense $5,225

5. Accounts Payable:

Beginning balance $23,000

Cash payment on accounts payable $(20,000)

Purchased supplies on account $970

Incurred other operating expenses on account $13,000

Balance of Accounts Payable $16,970

Unearned Income $3,700

Accrued salaries expense $5,100

Total Liabilities $23,770

($16,970+$3,700+$5,100)

6.Supplies purchased $970

Less Supplies on hand ($170)

Supplies expense $800

7.Revenue received ion July 1 for 12 months contract $7,400

50% earned in the year $(3,700)

Unearned revenue of the balance sheet $3,700

8. Cash used to purchase land $(32,000)

Proceeds from the sale of land $22,000

Cash used by investing activities $(10,000)

9. Lease for office space $5,225

Supplies $800

Other operating expenses $13,000

Salaries expense $5,100

Total expenses $24,125

10. Revenue earned from retainer received in advance $3,700

Service revenue on account $68,000

Total Service Revenue $71,700

11. Issue of common stock $48,000

Cash dividend to the stockholders $(2,400)

Cash provided by financing activities $45,600

12.Total Service Revenue $71,700

($3,700+$68,000)

Interest Revenue $116

Total expenses $(45,600)

Net income $26,216

13. Retained Earnings on the balance sheet is:

Beginning balance $17,000

Net income for the year $26,216

Ending balance $43,216



Learn more here:

brainly.com/question/24128263







5 0
2 years ago
Which type of accounting information is intended to satisfy the needs of external users of accounting information
hoa [83]

The type of accounting information intended to satisfy the needs of external users of accounting information is the Financial accounting.

<h3>Financial accounting</h3>

Financial accounting is the field of accounting concerned with the summary, and reporting of transactions related to a business.

In comparison with other fields, Managerial accounting includes accounting of cost, and intended for the use of internal users of the business.

Tax accounting is specifically intended for tax.

Therefore, it is financial accounting that is intended to satisfy needs of external users in a business.

Read more about<em> accounting</em> here:

brainly.com/question/24357323

3 0
2 years ago
The _______ is the act of Limiting the amount of certain goods that civilians can buy
Drupady [299]

Rationing is is the act of Limiting the amount of certain goods that civilians can buy. Rationing became common during the Second World War. Ration stamps were often used. These were redeemable stamps or coupons, and every family was issued a set number of each kind of stamp based on the size of the family, ages of children and income.

7 0
3 years ago
Which of these statements about life insurance benefits is false?
Zigmanuir [339]
<span>Employers normally require employees to pay a large portion of thecost of the life insurance benefit.</span>
3 0
3 years ago
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