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2 years ago

The time value of money implies that a dollar received today is worth ________ a dollar received tomorrow.

Business

1 answer:

laiz [17]2 years ago

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For each of the following transactions for New Idea Corporation, give the accounting equation effects of the adjustments require

Lapatulllka [165]

Answer:

first I will journalize the adjustments:

a. Received a $510 utility bill for electricity usage in July to be paid in August.

Dr Utilities expense 510

Cr Accounts payable 510

b. Owed wages to 15 employees who worked two days at $55 each per day at the end of July. The company will pay employees at the end of the first week of August.

Dr Wages expense 1,650

Cr Wages payable 1,650

c. On July 1, loaned money to an employee who agreed to repay the loan in one year along with $660 for one full year of interest. No interest has been recorded yet.

Dr Interest receivable 660

Cr Interest revenue 660

effects on the accounting equation:

Assets = Liabilities + Equity

a. 0 510 -510

b. 0 1,650 -1,650

660 2,160 -1,500

Revenue - Expenses = Net income Cash flow

a. 0 510 -510 0 OA

b. 0 1,650 -1,650 0 OA

660 2,160 -1,500 0 NC

3 0

2 years ago

Old Economy Traders opened an account to short-sell 1,550 shares of Internet Dreams at $74 per share. The initial margin require

svetlana [45]

Answer:

A.37%

B.No because the margin is above the requirement at 37%.

C.-118%

Explanation:

Old Economy Traders

1,550 shares*$74 per share = 114,700

margin requirement is 52% so equity =59,644

1 year later price increase to 81

$1550 shares*$81 per share = 125,550

Dividend = $4*1550 = 6,200

Margin = 114,700/131750 = 37%

No because the margin is above the requirement at 37%.

Price of 1550 stock year 1 at 81$/share = 125,550

114,700 – 125,500 = -10800

Rate of return = (-10800 -59,644)/59,644= -118%

8 0

2 years ago

Money that you owe the Internal Revenue Service because you did not pay enough in over the year is known as a ________________.

matrenka [14]

Answer:

Tax due or tax bill any one of them

5 0

2 years ago

13. Which of the following is NOT used to describe the state of an economy?

Anni [7]

Answer:C.TINSTAAFL Rating

Explanation:

7 0

3 years ago

Tampa Tribune's dominant strategy is ____________ (low price, high price, it has no dominant strategy).

Masja [62]

Answer:

Low price

Explanation:

Tampa tribune dominant strategy is low price. If the company keeps its prices high it can get maximum revenue of $88 whereas if the company keeps its prices low it can make maximum revenue of $120. The difference of $32 is gained when the prices are kept and this is dominant strategy for Tampa Tribune.

4 0

2 years ago