How old does a senator have to be?

XYZ Company completed the following selected transactions:

Setler [38]

Answer:

2018

Date Account Tiles Debit$ Credit$

Jul.1 Notes receivable- Gp-Mart 43,000

Sales 43,000

Oct.31 Cash 23,000

Sales 23,000

Dec.31 Interest Receivable 3,440

Interest revenue 3,440

(43,000*16%*6/12)

Dec.31 Bad Debt Expense 4,200

Allowance for Bad Debt 4,200

(14,900 - 10,700)

2019

Date Account Tiles Debit$ Credit$

Apr.1 Cash 48,160

Notes receivable- Gp-Mart 43,000

Interest Revenue 1,720 (43,000*16%*3/12)

Interest Receivable 3,440

Jun.23 Note Receivable- Allure, Corp 7,000

Sales 7,000

Aug.22 Accounts receivable -Allure, Corp 7,070

Note Receivable- Allure, Corp 7,000

Interest revenue 70 (7,000*6%*60/360)

Nov.16 Note receivable - Tench . Inc 20,000

Cash 20,000

Dec.5 Cash 7,070

Accounts receivable -Allure, Corp 7,070

Dec.31 Interest Receivable 200

Interest revenue 200

(20,000*8%*45/360)

8 0

3 years ago

Consumers are individuals, businesses, or other groups that

Viktor [21]

Consumers generally buy products.

8 0

4 years ago

Raven Corporation owns three machines that it uses in its business. It no longer needs two of these machines and is considering

AleksAgata [21]

Answer:

A.If Raven distributes Machine A, the result will be a NONDEDUCTIBLE LOSS of $7,000

B. If Raven distributes Machine B, the result will be NO GAIN OR LOSS OF $0

C. If Raven distributes Machine C, the result will be a TAXABLE GAIN of $8,000

D.Therefore to PRESERVE THE LOSS on Machine A, Raven should consider SELLING Machine A. Raven should consider distributing Machine B because there will be NO RECOGNIZED GAIN OR LOSS on the distribution. To AVOID RECOGNIZING THE GAIN on Machine C, Raven should consider NEITHER SELLING NOR DISTRIBUTING Machine C

Explanation:

A. If Raven distributes Machine A, the result will be a NONDEDUCTIBLE LOSS of $7,000

Calculation as

(20,000 – 27,000) =-$7,000

B. If Raven distributes Machine B, the result will be NO GAIN OR LOSS OF $0

Calculated as :

(20,000-20,000)=$0

C. If Raven distributes Machine C, the result will be a TAXABLE GAIN of $8,000

Calculated as:

(20,000-12,000)=$8,000

D.Therefore to PRESERVE THE LOSS on Machine A, Raven should consider SELLING Machine A. Raven should consider distributing Machine B because there will be NO RECOGNIZED GAIN OR LOSS on the distribution. To AVOID RECOGNIZING THE GAIN on Machine C, Raven should consider NEITHER SELLING NOR DISTRIBUTING Machine C

6 0

3 years ago

Trade between countries tends to Group of answer choices

S_A_V [24]

Answer:

Option (d) is correct.

Explanation:

Trade between the nations will result in an increase in both competition and specialization.

When the trade among the nations increases then as a result competition increases because consumers have more number choices due to imported products from the other nations. This will increase the competition.

We know that the trade is largely based on the comparative advantage. The countries exporting the product in which it has a comparative advantage and importing the products in which it has a comparative disadvantage. This will increase the specialization in the production of certain goods.

3 0

4 years ago

Within the relevant range of activity ______. variable costs do not change in total, only per unit fixed costs remain constant i

Vlad1618 [11]

Answer:

False

Explanation:

Within the relevant range of activities, total fixed costs remain constant and fixed costs per unit decrease as total output increases. Total variable costs vary depending on total output, but variable costs per unit should remain constant.

On a long term basis, all costs are variable, that is why it is important to consider the range of activities, i.e. output levels.

6 0

3 years ago