Sandy is currently 8 years old.
Start by using x for Sandy's current age and x + 5 for Megan's current age.
Since we know the above, we can find their age's as of 4 years ago as both of those minus 4. So Sandy 4 years ago was x - 4 years old and Megan was x + 1 years old.
Now we can set up an equation that shows that Megan's age 4 years ago was equal to Sandy's age 4 years ago times 3 minus 3.
x + 1 = 3(x - 4) - 3
x + 1 = 3x - 12 - 3
x + 1 = 3x - 15
x + 16 = 3x
16 = 2x
8 = x
Which is Sandy's current age.
Question Completion:
Cash received from bank loans was $10,000.
Revenues earned and received in cash were $9,000.
Dividends of $4,000 were paid to stockholders.
Expenses incurred and paid were $5,600.
Answer:
Jiminez, Inc.
Income Statement for the month ended March 31:
Revenue $9,000
Expenses 5,600
Net income $3,400
Dividends 4,000
Retained earnings during the year ($600)
Explanation:
Jiminez, Inc. paid more dividends to stockholders this month than it actually generated in net income. The excess amount of dividends must be from retained earnings carried forward from the previous month. In preparing the income statement for the month of March, Jiminez, Inc. must deduct all the expenses from its revenue to obtain the net income before tax. The bank loan does not form part of the items for the preparation of the income statement, as only temporary accounts are considered.
Answer:
Books Shirts
4 0
3 3
2 6
1 9
0 12
Explanation: At combination E, the economy is producing 0 books and 12 shirts. Since the opportunity cost of 1 book is 3 shirts, moving from point E to point D (gaining 1 book) requires this economy to produce 3 fewer shirts. Thus, the number of shirts in combination D must be 12 shirts−3 shirts=9 shirts. The rest of the combinations can be calculated in a similar fashion, with the answers summarized in the following table.
A 4 3−3=0
B 3 6−3=3
C 2 9−3=6
D 1 12−3=9
E 0 12
Good judgement is important in making decisions when budgeting because they can allow one to predict fairly accurately what the costs will be of a particular project based on one's own experience and of the current prices of supplies and say drilling charge rates and also with an adequate allowance for contingency.
Answer:
a. There are two separate performance obligations in the contract. Gym membership is one performance obligation and the providing 25% discount on yoga classes is another performance obligation.
b. The standalone selling price of annual membership is $720. Therefore, F&S will allocate 
of 700 contract price to the discount voucher on yoga course and the remaining $672 will be allocated to membership.
C. solution is in the image attached.
Explanation:
b. F&S offers a 10% discount on yoga classes to all customers as part of promotional strategy. Therefore a 25% discount voucher provides a customer with an incremental value of 15% (25%-10%). Thus, the estimated stand alone selling price of the discount voucher provided by F&S is $30 ($500 * 15% incremental discount * 40% likelihood of the vouchers being redeemed).
