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Ad libitum [116K]
3 years ago
14

If there is a federal budget surplus, then government revenues are greater than its expenditures.

Business
1 answer:
faltersainse [42]3 years ago
6 0
The statement above is true
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Bates Company currently produces and sells 4,000 units of a product that has a contribution margin of $5 per unit. The company s
JulijaS [17]

Answer:

1,875 units.

Explanation:

Break-even is the point where a company neither generate profit not make loss, or we can say that it the sales at which the operating profit will be zero. It can be calculated for sales volume as-well-as dollar sales. Let's prepare a contribution income statement to calculate the break-even sales in quantity. We know that:

               EBIT / Operating Profit = (SP * Q) - (VC * Q) - Fixed Cost

where

SP = Selling Price

Q = Quantity / Units

VC = Variable cost

As it is understood that the operating profit at break-even is zero, simply put it in the above contribution income statements along with other figures given in the question.

⇒ 0 = (20 * Q) - (12 * Q) - 15,000

OR 15,000 / (20 - 12) = Q

⇒ Break-even units = Q = 1,875 units.

3 0
3 years ago
Which entry records the investment of cash by John, owner of a sole proprietorship?
mote1985 [20]
The answer is: D - Debit Cash; credit John, Capital.

Explanation:

The entry records the investment of cash by John, owner of a sole proprietorship is: Debit Cash; credit John, Capital.
4 0
3 years ago
A company issued 70 shares of $30 par value preferred stock for $4,000 cash. The journal entry to record the issuance is:______.
PtichkaEL [24]

Answer:

E. Debit Cash $4,000; credit Paid-in Capital in Excess of Par Value, Preferred Stock $1,900, credit Preferred Stock $2,100.

Explanation:

Journal Entry for Issuance of 70 shares of $30 par value preferred stock for $4,000 is -

Cash Debited -  $4,000

Paid in Capital in excess of Par value Credited -  $1,900

Preferred Stock (70 shares × $30 each) Credited - $2,100

The correct option is - E. Debit Cash $4,000; credit Paid-in Capital in Excess of Par Value, Preferred Stock $1,900, credit Preferred Stock $2,100.

7 0
3 years ago
Mike's Motors Corp. manufactures motors for dirt bikes. The company requires a minimum $30,000 cash balance at each month-end. I
Lapatulllka [165]

Answer:

Mike's Motors Corp.

Cash Budget

                                             July             August        September

Beginning balance          $41,000          $30,000          $30,000

Cash receipts                   92,000            118,000           157,000

Total cash available      $133,000         $148,000        $187,000

Cash payments              120,000           106,900           134,400

Interest/Loan repayment                         11,100              6,602

Cash balance                    13,000            30,000            45,998

Cash to borrow                 17,000                      0               0

Minimum cash balance $30,000          $30,000          $30,000

Explanation:

a) Data and Calculations:

Minimum cash balance = $30,000

Interest rate on borrowings = 3% per month

Beginning cash balance = $41,000

Cash Budget

                                           July             August        September

Beginning balance        $41,000          $30,000          $30,000

Cash receipts                 92,000            118,000           157,000

Total cash available    $133,000         $148,000        $187,000

Cash payments            120,000           106,900           134,400

Interest/Loan repayment                         11,100              6,602

Cash balance                  13,000            30,000            45,998

Cash to borrow               17,000                      0               0

Minimum cash balance 30,000            30,000            30,000

Loan repayment:

In August:

Interest is paid =   $510 ($17,000 * 3%)

Loan is repaid = 10,590

Total paid =        $11,100

Balance of loan unpaid = $6,410 ($17,000 - 10,590)

In September:

Interest on loan = $192 ($6,410 * 3%)

Loan repaid =     6,602 ($6,410 + 192)

6 0
2 years ago
Which student best fills the role of group notetaker? Yuna, who is positive and considers other viewpoints Hiroto, who is focuse
Juliette [100K]
Sora is the best group note taker; she meets are the criteria.
3 0
3 years ago
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