All categories

3 years ago

. Savings habits you develop when you are young can stay with you for life. Yes or no, Support your answer.

1 answer:

6 0

Yes. Creating habits when you are young are bound to stick with you until you break them. It is hard to break a habit once you gain it. Thus, creating a saving habit when you are young is bound to stay with you when you are older, and it would be beneficial to you as well

You might be interested in

Tom and Lynda also inform you that the monthly individual membership fee is $100and that the monthly family membership fee is $1

shepuryov [24]

Answer:

Net Cash $2,170

Explanation:

Cash Budget for September:

Beginning Balance $6,000

Individual membership fee revenue $1,350

Family membership fee revenue $720

Less:Variable Cost Individual ($25 * 15) $375

Less:Variable Cost Family ($25 * 5) $125

Less:Purchase of Machine $20,000

Less:Fixed cost $41,000

Net Cash $2,170

Individual membership fee revenue

$100 * 90% * 180 = 16,200 per year

16,200 / 12 = 1,350 per month.

Memberships per month = 180/12 = 15

Family membership fee revenue

$160 * 90% * 60 = 8,640 per year

8,640 / 12 = 720 per month.

Memberships per month = 60/12 = 5

5 0

3 years ago

Smith & Sons uses the allowance method of handling its credit losses. It estimates credit losses at two percent of credit sa

borishaifa [10]

Answer:

$238,600

Explanation:

Firstly, we need to compute the amount of bad debt

= Credit sale × Bad debt expense

= $2,000,000 × 2%

= $40,000

The adjusted balance of allowance will be the addition of unadjusted balance of allowance account and the bad debt expense

= $21,400 + $40,000

= $61,400

The , the balance will be :

Accounts receivables = $300,000

Less: Allowance for doubtful account = ($61,400)

Net realizable value of account receivable = $238,600

4 0

3 years ago

On March 5 PV Inc purchased $3,300 worth of merchandise from Panther Supply with the terms 2/10,n/30 On March 14, PV Inc paid Pa

Aleks [24]

I need help on my question

8 0

3 years ago

Below are departmental income statements for a guitar manufacturer. The manufacturer is considering eliminating its electric gui

sergij07 [2.7K]

Answer and Explanation:

1. The preparation of the department contribution report is presented below:

WHOLESALE GUITARS

Income statement showing Departmental contribution to overhead

For year Ended December 31,2015

Particulars Acoustic Dept Electric Dept Combined

Sales $112,500 $105,500 $218,000

Less : Cost of Goods sold

-$55,675 -$66,750 -$122,425

Gross Profit $56,825 $38,750 $95,575

Direct Expenses

Depreciation Expenses - Equipment $10,150 $9,000 $19,150

Salaries Expenses $17,300 $13,500 $30,800

Supplies Expenses $2,030 $1,700 $3,730

Total Direct Expenses $29,480 $24,200 $53,680

Indirect Expenses

Advertising Expenses $14,325 ($8,075 + $6,250)

Rent Expenses $12,055 ($6,105 + $5,950)

Utilities Expenses $5,595 ($3,045 + $2,550)

Total indirect Expenses $31,975

Net Income $27,345 $14,550 $9,920

2. As we can see that there is a loss so electric should not be eliminated

7 0

3 years ago

Raising gas taxes to finance infrastructure is "politically tricky" because _______.

Gwar [14]

Answer:

D. a rise in the gas tax makes the supply of gasoline more elastic so most of the rise in the gas tax is paid primarily by consumers, which jeopardizes the re-election of politicians

Explanation:

First of all, the demand for gasoline products is normally deemed as relatively inelastic, which means that the percent of change in consumer demand is lower than the percent of change in the price of goods.

If the gas tax and thus overall gas price becomes higher, gas supply will become slightly more elastic (not to a great extent, as gas is a limited resource).

Tax inference is a term implying the distribution of the tax burden between the supplier and consumer. In this case, we have a similar demand and supply elasticity. A general rule is that if we have an elastic supply, but inelastic demand, the tax is almost entirely paid by the consumer.

Even though this example shows a similar level of elasticity for both supply and demand, the bigger share of the tax burden still goes to the consumer, as the supply is still more elastic than the demand.

Therefore, imposing such taxes (no matter the reason), can provoke controversy in public discourse and create instability to the position of the politicians who made such decisions.

6 0

3 years ago