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2 years ago

A(n) ______ is defined as trying to earn a profit by providing goods and services that satisfy people's needs and wants.

1 answer:

3 0

Every individual or business wants to make profit this is done by providing goods and services that satisfy people's needs and wants.

<h3>What is a business?</h3>

A business is an organization that aims at making a profit by providing goods and services that are desired by individuals also known as customers.

Business meets a need and gets profit in return.

Therefore, A Business is defined as trying to earn a profit by providing goods and services that satisfy people's needs and wants.

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If the interest rate is 8%, what is the 4-year discount factor? What is the 4-year annuity factor? What is the relationship betw

Strike441 [17]

Answer:

Discount factor will be 0.735

And annuity factor will be 3.312

Explanation:

We have given rate of interest r = 8 %

Time period n = 4 year

We have to calculate discount factor

Discount factor is equal to $=\frac{1}{(1+r)^n}=\frac{1}{(1+0.08)^4}=\frac{1}{1.08^4}=0.735$

So discount factor will be equal to 0.735

Annuity factor is equal to $(1-\frac{\frac{1}{(1+r)^n}}{r})$

So annuity factor will be equal to $(1-\frac{\frac{1}{(1+r)^n}}{r})=(1-\frac{\frac{1}{(1+0.08)^4}}{0.08})=3.312$

So annuity factor will be 3.312

Annuity factor is determined for a progression of equivalent installment/receipt for indicated time frame.

In any case, discounting factor is determined distinctly for discover the present estimation of sum which will be put resources into year 4.

4 0

4 years ago

Wright Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the clos

sergey [27]

Answer:

Please see solution below

Explanation:

Bank reconciliation as at June 31st.

•Bank statement balance

$25,800

Add:

Bank service charges

$100

NSF check

$600

Wrong drawn

$400

Total

$1,100

Adjusted bank balance

$26,900

Bank reconciliation as at June 31st.

•Cash book balance

$27,500

Add: outstanding checks

$5,600

Balance

$34,100

Less: deposit in transit

($6,200)

Adjusted book balance

$26,900

3 0

3 years ago

Management Services, Inc. provides services to clients. On May 1, a client prepaid Management Services $60,000 for 6-months serv

Sedbober [7]

Answer:

d. Credit to Unearned Management Fees for $60,000.

Explanation:

In the given question, it is mentioned that the management services provide service to clients, and one client gives the advance amount of $60,000 to the management service.

So, in case of advanced received by the customer, the journal entry would be

Cash A/c Dr $60,000

To Unearned Management Fees $60,000

(Being amount received in advance)

The asset account should be debited and the liabilities account should be credited.

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3 years ago

Macee Department Store has three departments, and it conducts advertising campaigns that benefit all departments. Advertising co

DerKrebs [107]

Answer:

Results are below.

Explanation:

Giving the following information:

Estimated overhead costs= $130,000

Total sales= 201,000 + 314,900 + 154,100= $670,000

<u>First, we need to calculate the predetermined overhead rate:</u>

<u></u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 130,000 / 670,000

Predetermined manufacturing overhead rate= $0.194 per sales dollar

<u>Now, we can allocate overhead:</u>

<u></u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

1= 201,000*0.194= 38,994

2= 314,900*0.194= 61,090.6

3= 154,100*0.194= 29,895.4

8 0

3 years ago

For an economy starting at full employment real GDP, an increase in autonomous expenditure results in a(n) g

Goryan [66]

When an economy has an increase in autonomous expenditure will results in a inflationary output gap.

<h3>What is Autonomous expenditure?</h3>

Autonomous expenditure refers to expenses that is incurred by a country.

It consist countries economy expenditure without the income.

Therefore, an economy starting at full employment real GDP, with an increase in autonomous expenditure results in decrease in autonomous expenditure results in a inflationary output gap.

Learn more on autonomous expenditure here,

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4 0

2 years ago