Answer:
Apple Photography, Inc.
Based on this information, the balance in the cash account at the end of January would be:_____.
b) $12,115.
Explanation:
a) Cash Account
Common Stock $13,600
Insurance (2,200)
Service Revenue 5,800)
Rent (1,600)
Office equipment (3,200)
Utilities (285)
Balance $12,115
b) Apple Photography, Inc had a balance in the cash account at the end of January of $12,115 which was the difference between the cash inflows and cash outflows during the month. The inflows represented cash received by Apple Photography from the owners and customers and the cash paid for running the business.
Answer:
4.88 years
other methods should be used because payback method does not account for the time value of money
Explanation:
Answer:
$450,000
Explanation:
Theodore Enterprises had the following pretax income (loss) over its first three years of operations:
2016 $ 500,000
2017 (900,000 )
2018 1,500,000
For each year there were no deferred income taxes and the tax rate was 30%. In its 2017 tax return, Theodore elected a net operating loss carryback. No valuation account was deemed necessary for the deferred tax asset as of December 31, 2017.
Therefore Theodore's income tax expense for 2018 is 30% x 1,500,000 = $450,000
Loss carry back is when a business elects to net off losses against a previous year's return as opposed to loss carry forward which is the future years' return.
Answer:
56.67%
Explanation:
Purchase cost = 30 dollars
Margin x price = 0.60x30 = $18
30-18 = $12
Profit = $47 - $30 - 0.07(12)
= 16.16
Percentage earned = (16.16 /18) * 100
= 89.78%
Profit from the trade
= 47-30
= 17
Percentage earned = 17/30 * 100
= 56.67%
The return would have been 56 67% if the investor had not done this.
Answer:
b. 4 percent
Explanation:
According to the rule of 72, hte number of years required for an investment to be doubled can be obtained by dividing 72 by the interest rate (in percentage). If it takes 18 years for the investment to bouble in value, the interest rate is:
The interest rate on the deposit is 4%.
