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3 years ago

When completing the FAFSA, the student is given an EFC number. what does the EFC mean?

1 answer:

8 0

Expected Family Contribution- it’s the index measure of the families financial strength to determine how much financial aide the school will need to provide.

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Jasper makes a $92,000, 90-day, 7ash loan to clayborn co. jasper's entry to record the transaction should be:______.

IgorLugansk [536]

Jasper's entry to record the transaction should be Debit Notes Receivable for $92,000; Credit Cash $92,000

A debit notice is a report utilized by a seller to inform the client of modern-day debt duties, or a document created by a consumer when returning goods obtained on credit.

Debit note is a document which displays that a debit is made to the alternative celebration's account. credit score note is an device used to inform that the alternative birthday party's account is credited in his books.

Explanation:-

When Jasper makes a loan to Clayborn it is an asset in the books of Jasper therefore when increasing asset Debit Note Receivable at the same time the loan is given by cash therefore another asset cash will decrease hence Credit Cash.

Hence, All other options are incorrect

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7 0

2 years ago

Liabilities and owner's equity of a company are $150,000 and $30,000, respectively. Determine assets using the accounting equati

ArbitrLikvidat [17]

Answer:

Assets: 180,000

Explanation:

Accounting Equation Formula:

Assets = Liabilities + Owner's Equity

The accounting equation shows which resources the company has for the development of its activities and how they are financed. Assets are those mentioned resources, such as cash, bank accounts, inventory, etc. Those assets can be financed by external or internal sources. Liabilities represent external sources, which means, obligations. Instead, Owner's Equity represents internal sources, which means issuing equity shares. As every resource have to be finance either external or internally, the value of the Asset should match the add of Liabilities and Owner`s Equity.

7 0

3 years ago

information systems transform raw data into information that can be used to make decisions. What is another important factor to

Reptile [31]

A) The relationship between information systems and organizations is among the fastest-changing aspect of business today.

3 0

4 years ago

how has the management of forest and agricultural resources impacted the environment in south america?

prisoha [69]

The management of forest and agricultural resources has impacted the environment in South America by causing deforestation and soil erosion.

What is environment?
An environment can be simply defined as a system that includes all biotic or abiotic components that have an impact on human life. All flora and fauna are considered biotic, or living, elements, whereas water, sunlight, air, climate, etc. are considered abiotic. An environment's resources can be any good, service, or feature that benefits people and society. They can be anything that fulfils a person's daily needs. Environmental supplies include food provided by living things and plants, energy used for transportation and cooking, wind, and oil, among others. The environment provides a wide range of goods and services needed to support life. Each resource is valuable and has a certain level of importance.

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6 0

1 year ago

Sheffield Corp. estimates its sales at 150000 units in the first quarter and that sales will increase by 15000 units each quarte

Varvara68 [4.7K]

Answer:

183,750

Explanation:

Data provided in the question:

Sales in the first quarter = 150,000 units

Increase in sales each quarter = 15000 units

Ending inventory = 25% of the current sales units

Now,

Ending inventory of first quarter = 25% of Units produced in the first quarter

= 0.25 × 150,000

= 37,500

Units produced in the first quarter = Sales + Ending inventory of first quarter

= 150,000 + 37,500

= 187,500

Units to be produced in the second quarter

= Sales in second quarter - Ending inventory of first quarter + Ending inventory

= [ 150,000 + 15,000 ] - 37,500 + 25% of [ 150,000 + 15,000 ]

= 165,000 - 37,500 + 41,250

= 168,750

Units to be produced in the Third quarter

= Sales in third quarter - Ending inventory of second quarter + Ending inventory

= [ 150,000 + 15,000 + 15,000 ] - 41,250 + 25% of [ 150,000 + 15,000 + 15,000 ]

= 180000 - 41,250 + 45,000

= 183,750

4 0

3 years ago