Answers
The question you have provided is missing information relating to Accumulated depreciation or book value of the furniture as well as profit or loss on sale of furniture.
However, important principles are explained below :
The Furniture Disposal T - Account is used to calculate the cash received from the sale of furniture.
The Format of the Account is as follows :
Debits :
Record the Costs of the Furniture Sold. In this cases Cost is $75,900
Record the Profit on Sale of Furniture (if there was profit). The information is incomplete in this case.
Credits :
Record the Accumulated Depreciation on the Furniture. This figure is missing.
Record the Loss on Sale of Furniture (if there was a loss). The information is incomplete in this case.
The Balancing figure would be the Cash Received on sale of Furniture and to be recorded here.
The Cash Received on Sale of Furniture is a Balancing figure of the Furniture Disposal T - Account.
To learn more about Accumulated depreciation visit:https://brainly.com/question/28609793
#SPJ4
Related Questions
Samantha is interested in setting up her own accounting firm and wants to speciallze in the area ofaccounting that has experlenced the most
significant growth in recent years. Which area of accounting should she choose as her specialty?
Samantha should choose_______as her specialty.
Fill in the blank
Answers
Answer:
Samantha should choose Financial Accounting
Explanation:
Financial Accounting is the area of accounting that has experienced the most growth in recent years. This is because of the large size and complexity of financial markets, and the increasing importance that they have in the overall economy.
Financial Accounting specializes in the recording and analysis of financial transactions. Financial transactions are those that a firm uses to obtain funds in order to invest in new projects, pay off other obligations, or simply capitalize the firm.
The management accountant for Giada's Book Store has prepared the following income statement for the most current year: Cookbook Travel Book Classics Total Sales $63,000 $179,000 $60,000 $302,000 Cost of goods sold 37,000 70,000 23,000 130,000 Contribution margin 26,000 109,000 37,000 172,000 Order and delivery processing 19,000 26,000 9,000 54,000 Rent (per sq. foot used) 3,000 3,000 3,000 9,000 Allocated corporate costs 10,000 10,000 10,000 30,000 Corporate profit $ (6,000) $70,000 $15,000 $79,000 If the cookbook product line had been discontinued prior to this year, the company would have reported ________. the same amount of corporate profits less corporate profits greater corporate profits resulting profits cannot be determined
Answers
Answer:
the company would have reported loss
When a perfectly competitive firm decides to shut down, Group of answer choices marginal cost is above average variable cost.
Answers
Answer:
price is below average variable cost
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
firms should shutdown when price is less than average variable cost and exit when price is less than average total cost
Some of the risks and pitfalls of implementing a multisource feedback include:
Stock value may drop
Negative feedback may hurt employees’ feelings
Raters may be overloaded
All of the above
Answers
A risk and pitfall of implementing a multisource feedback is that C. Raters may be overloaded .
What is multisource feedback ?Multisource feedback ( also known as 360 - degree feedback ) is a type of feedback on employees where information on those employees is gathered from multiple sources such as their colleagues, managers, and subordinates .
The major risk or pitfall with this type of feedback system is that the raters could get overwhelmed by the sheer amount of information they have to sift through from all those different sources of information on employees.
Find out more on Multisource feedback at https://brainly.com/question/14984839
#SPJ1
Financial information is presented below: Operating expenses $ 45,000 Sales returns and allowances 4,000 Sales discounts 6,000 Sales revenue 160,000 Cost of goods sold 90,000 The amount of net sales on the income statement would be:
Answers
Answer:
$150,000
Explanation:
To calculate the net sales,
Sales Revenue
$160,000
Sales discount ($6,000)
Sales returns and allowances ($4,000)
Net sales $150,000
Where would a history student most likely find this image?
Answers
Answer : there’s no pic
Which 2 statements are true about payment links in QuickBooks
Online?
Answers
The 2 statements are true about payment links in QuickBooks Online are:
Payment links can only be used when a client has an active QuickBooks Payments account You can use payment links to send a request for payment on an existing invoiceWhat is Quick Books Online?Quick books online is an accounting software that assist businesses manage their income and expenses. The software also keep track of the financial health of the business.
The Quickbook software helps in recording and processing financial transactions that are in monetary terms. The software is easy to access and therefore best for small and medium-sized business firms.
Therefore, the 2 statements are true about payment links in QuickBooks Online are :
Payment links can only be used when a client has an active QuickBooks Payments account You can use payment links to send a request for payment on an existing invoice
Learn more about Quick Books Online here : https://brainly.com/question/25512540
What is a personal income tax
Answers
Answer:
Personal income tax is generally computed as the product of a tax rate times taxable income
Explanation:
Answer:
a personal income tax is a tax imposed on individuals or entities that varies with respective income or profits .
Explanation:
Income that people get from wage or salaries, your social security and other governmental benefits.
3. Which of the following is NOT something you need to find out about in career planning?
a. the age of workers in an occupation
b. wages paid
c. education and training required
d. duties performed
Answers
Answer:
D
Explanation:
You have been working on an important assignment and are behind schedule. Your manager made it clear that it must be done on time. You cannot meet the assignment deadline and complete the other small tasks you have. What would you be MOST likely to do
Answers
When you are working on an important task and you are late, ideally, you would focus on the most important tasks to be delivered on time and not worry so much at the moment about the other small tasks you have.
Establishing a priority list can help you meet deadlines for essential tasks that require greater urgency and more effort to complete.
Time management
It is essential that the employee manages his time in order to establish schedules and goals for completing tasks. Through time management, there is greater motivation and objectivity about the most important tasks.
Therefore, there needs to be focus, concentration and prioritization on the main project that needs to be delivered on time. It is also essential that there is effective communication with your leader, so that you can be authorized for extra benefits or help to help you complete the project on time.
Find out more information about organizational project here:
https://brainly.com/question/25173593
According to the video, what are some qualities Financial Analysts need? Check all that apply. business sawy a college education vocational school training math skills public speaking skills analytical skills patience Intro Done vity
Answers
Answer:
The answers are A, B, D, F
Answer:
the answer is A, B, D, F
Explanation:
i tried this answer and it was correct
Question 7 of 10
Business health insurance plans are
A. required
B. varied
C. non-existent
D. uniform
so
Answers
Suppose that the six-month interest rate in the United States is 2%, while the six-month interest rate in Britain is 4%. Further, assume the spot rate of the pound is 1.25. Suppose that you have $500,000 with which to attempt covered interest arbitrage. Assume the forward rate is $1.22596, as you just calculated, and the interest rates are the same as have been used throughout this problem. To start, you exchange your $500,000 (at the spot rate of 1.25) for 400,000pound. After depositing these funds for 6 months, and earning a return of 4%, your deposit grows to 416,000pound. When you convert your 416,000pound back to dollars, you end up with approximately_________________ , for a profit of about over your original $500,000. However, had you simply deposited your $500,000 in an account and accrued 2% interest, you would have ____________ , for a profit of ______________. This example illustrates that covered interest arbitrage ___________offer a significantly larger return than simply depositing the funds in a domestic account under internet rate parity.
Answers
After depositing these funds for 6 months, and earning a return of 4%, your deposit grows to 416,000pounds.
When you convert your 416,000pounds back to dollars, you end up with approximately $520,000, for a profit of about $20,000 over your original $500,000.
However, had you simply deposited your $500,000 in an account and accrued 2% interest, you would have $510,000 ($500,000 x 1.02), for a profit of $10,000.
This example illustrates that covered interest arbitrage does offer a significantly larger return than simply depositing the funds in a domestic account under internet rate parity.
What is the covered interest rate arbitrage?The covered interest rate arbitrage is a trading strategy that enables an investor to:
Use favorable interest rate differentials.Invest in a higher-yielding currency.Hedge the exchange risk through a forward currency contract.Data and Calculations:Funds for covered interest arbitrage = $500,000
Forward rate = $1.22596
Six-month interest rate in the United States = 2%
Six-month interest rate in Britain = 4%
Spot rate = $1.25
Value of $500,000 in pounds = $400,000 ($500,000/$1.25)
Expected returns on deposit for 6 months = 4%
New value of $500,000 in pounds after 6 months = $416,000 ($400,000 x 1.04)
Dollar value of 416,000 pounds = $520,000 ($416,000 x $1.25)
The gain or profit from the original $500,000 funds = $20,000 ($520,000 - $500,000)
Thus, the example illustrates that covered interest arbitrage does offer a significantly larger return than simply depositing the funds in a domestic account under internet rate parity.
Learn more about covered interest arbitrage at https://brainly.com/question/14699039
You would like to exchange your new bookbag for your friend's Coach purse, and she's willing to make the switch. Which purpose of money does this
represent?
OA. store of value
OB. medium of exchange
portability
O D. measure of value
OC.
Reset
Next
Answers
Answer:
B. Medium of Exchange
Explanation:
The purpose of money that is represented in this scenario is medium of exchange. Money serves as a medium of exchange when it is used to facilitate the exchange of goods or services between parties. In this scenario, the bookbag and the Coach purse are being exchanged using money as the intermediary.
Mary is a single taxpayer and has modified adjusted gross income of $80,000, what is the maximum Adoption Credit she can claim on her 2019 income tax return
Answers
Answer:
$14,080
Explanation:
The maximum federal adoption tax credit for 2019 is $14,080 per child adopted.
For single filers, this credit starts to phase out when a family's income is higher than $211,160 and completely phases out if the taxable income is $240,000 or more.
For married people filing together, the tax credit starts to phase out when their taxable income is higher than $400,000.
Suppose two factors are identified for the U.S. economy: the growth rate of industrial production, IP, and the inflation rate, IR. IP is expected to be 4% and IR 6%. A stock with a beta of 1 on IP and 0.4 on IR currently is expected to provide a rate of return of 14%. If industrial production actually grows by 5%, while the inflation rate turns out to be 7%, what is your best guess for the rate of return on the stock? (Round your answer to 1 decimal place.)
Answers
Answer:
15.4%
Explanation:
Calculation to determine your best guess for the rate of return on the stock
The revised estimate on the rate of return on
the stock would be:
Before
14% = α +[4%*1] + [6%*0.4]
α = 14% - 6.4%
α = 7.6%
With the changes:
7.6% + [5%*1] + [7%*0.4]
= 7.6% + 5% + 2.8%
= 15.4%
Therefore your best guess for the rate of return on the stock will be 15.4%
Using the post-enrollment method, when will a new member be disenrolled from their C-SNP if a qualifying condition cannot be verified?
Answers
A new member is disenrolled from their C-SNP if a qualifying state cannot be demonstrated by the end of the first month enrolled.
What is C-SNP?
Chronic Condition Special Needs (C-SNP) programs exist as a kind of Medicare Advantage (MA) plan created to satisfy the unique conditions of people with one or more additional chronic conditions, including diabetes, and end-stage renal disease (ESRD), lung disease, or heart disease.
With this information, we can deduce that C-SNPs are SNPs that limit enrollment to particular requirements for individuals with specific severe or injury chronic conditions.
These exist unique requirements plans which exist designed to bring care to people with one or more additional chronic conditions.
A new member will nevertheless be disenrolled if the qualifying condition for the schedule can't be confirmed in the first month.
To learn more about Special needs plans refer to:
brainly.com/question/2355947
#SPJ9
Production is an example of a marketing activity.
Question 1 options:
True
False
Answers
Which of the following typically involves the use of social networks to communicate and promote the benefits of products and services?a) social network shopping.b) social network advertising.c) door-to-door selling.d) word- of- mouth marketing.
Answers
Answer:
b) social network advertising
Explanation:
Advertising on social networks is being highly targeted by marketers, as the use of social networks has been growing more and more, through it it is possible to carry out the communication and promotion of product and service in a cheap, fast and dynamic way that can generate engagement and value, retain and attract new customers, in addition to creating a stronger relationship between customer and company, which positions the company in the market in a positive and competitive way.
You are the manager of a monopoly that faces a demand curve described by P = 85 − 5Q. Your costs are C = 20 + 5Q. The profit-maximizing output for your firm is:
Answers
Given:
Price function : P = 85 − 5Q.
Cost function : C = 20 + 5Q.
To find:
The profit-maximizing output for your firm.
Explanation:
Total revenue = Price × Quantity
\(TR=P\times Q\)
\(TR=(85-5Q)\times Q\)
\(TR=85Q-5Q^2\)
Differentiate with respect to quantity.
\(\dfrac{d(TR)}{dQ}=85(1)-5(2Q)\)
\(MR=85-10Q\)
Cost function is
\(C=20+5Q\)
Differentiate with respect to quantity.
\(\dfrac{dC}{dQ}=(0)+5(1)\)
\(MC=5\)
The profit is maximum if \(MR=MC\).
\(85-10Q=5\)
\(85-5=10Q\)
\(80=10Q\)
Divide both sides by 10.
\(\dfrac{80}{10}=Q\)
\(Q=8\)
Therefore, the profit-maximizing output for the firm is 8 units.
The demand curve is the curve that shows the relationship of demand with its various aspects. The demand curve is the graphical presentation of the shifts that are caused by the aspects of the demand.
The given information are:
Price function : P = 85 − 5Q.
Cost function : C = 20 + 5Q.
Total revenue = Price × Quantity
\(TR=P\times Q\)
\(TR=(85-5Q)\times Q\)
\(TR= 85Q-5Q^{2}\)
Differentiate with respect to quantity.
\(\frac{d(TR)}{dQ} =85(1)-5(2Q)\\MR=85-10Q\)
Cost function is=\(C=20+5Q\)
Differentiate with respect to quantity.
\(\frac{dC}{dQ}=(0)+5(1)\\MC=5\)
The profit is maximum in the firm if: \(MR=MC\)
\(85-10Q-5\\85-5=10Q\\80=10Q\)
Divide both sides by 10.
\(\frac{80}{10}=Q\\Q=8\)
Therefore, the profit-maximizing output for the firm is 8 units.
To know more about the calculation of the profit maximization, refer to the link below:
https://brainly.com/question/7145210
Multiple Choice:
- 10 weeks
- 15 weeks
- 13 weeks
- 7 weeks
Answers
The project completion time is when all the activities are performed and the whole project is ready that is 15 Weeks.
What is a project?A project is an activity or a set of activity that takes place, the completion of those activities will mark the project as complete.
The project time that will be required is 15 Weeks, in the diagram provided the activity A1 needs to be performed first and after completion of activity A1, A2 needs to be done and only then A3 can be performed. The whole project will be completed at 15 Weeks (5+8+2). While if activity A2 is left the project can be completed in 7 weeks (5+2).
Learn more about project at https://brainly.com/question/27490207
#SPJ1
If the central bank increases the money supply in an economy by 3%, the velocity of money is constant, and the real GDP is also growing at 3%, then which of the following statements about the price level is true?
The change in the price level is 3%.
The change in the price level is 0%.
The change in the price level is 6%.
The change in the price level is −3%.
The change in the price level is 1%.
Answers
The pricing level has changed by 3%. The right response is A.
What does the word "price" mean?Pricing's meaning:
The process of establishing a manufacturer's value in return for their goods and services is known as pricing. The producer utilizes a pricing plan to ensure that both the manufacturer and the consumer are satisfied with the price of its items.
What is price and how significant is it?Pricing is one of the most important factors in the world of trade. Giving an item a value is necessary in order to set a price for it. When a product is purchased or sold, both the buyer taking it and the seller giving it away profit from its "value."
To know more about Pricing visit:
https://brainly.com/question/20703640
#SPJ4
Question 2
What is the 360 Deal?
O Record company control all aspects of the artist's career
O Record company share all their profits with the artist
O Record company sees everything
O Record company works 360 days a year
Answers
The 360 Deal is a Record company share all its profits with the artist. Option B
What is the 360 Deal?Generally, A 360 deal is a type of contract between a record label and an artist in which the label takes a percentage of the artist's income from various sources, such as album sales, touring, merchandising, and other business ventures.
This is in contrast to traditional record deals in which the label only takes a percentage of album sales. The label typically assumes a more active role in managing the artist's career and overseeing various aspects of their business, hence the name "360" deal.
Read more about the 360 Deal
https://brainly.com/question/1613448
#SPJ1
How do you choose the brainliest answer?
Answers
list the functions of an enterpreneur
Answers
Answer:
Taking Initiative.
Organizing Resources.
Identifying Opportunities and Prospects.
Risk-Taking.
Decision Making.
Technology Transfer and Adaptation.
Innovation.
Fostering Autonomy.
Explanation:
Fostering Autonomy
Innovation
Decision making
Technology Transfer and Adapation
Risk Taking
Identifying Opportunities and Prospects
Organizing Resources
Taking Initiative
MARK ME BRAINLIEST PLEASE
How To Find The Best Luxury Portable Restrooms In Sacrament
Answers
Research reliable agencies with tremendous opinions, lots of restroom options, and exact customer support. Ask for referrals and reach out for a quote.
To locate the great luxury transportable restrooms in Sacramento, you can start with the aid of learning from reputable corporations specializing in luxurious transportable restroom rentals. Look for groups with nice purchaser opinions and quite a few restroom alternatives to pick from. Consider factors along with the restroom's length, amenities, and cleanliness.
You also can ask for referrals from pals, a circle of relatives, or event planners who've used luxurious portable restrooms in the past. Once you have got a listing of ability agencies, attain out to them to talk about your desires and obtain a quote.
Learn more about customer support:
https://brainly.com/question/28417930
#SPJ1
Bubba is a shrimp fisherman who catches 4,000 pounds of shrimp per year. He can sell the shrimp for $5 per pound. His average total cost of catching shrimp is $3 per pound. Bubba's annual Total Revenue is..
$8,000
Answers
Bubba makes $8,000 in total revenue each year.
Profit is the amount that remains after capital, labor, and land have been paid for. Profit is viewed in two ways: bookkeeping and financial benefit.
The difference between total revenue (return) and explicit costs in accounting is called accounting profit, while the difference between total revenue and both implicit and explicit costs in economics is called economic profit. Because of this, accounting profit is greater than economic profit.
The answer is correct: a. $8,000.
Considering that:
Q = $4, 000 P = $5 A T C = $3 Profit is the difference between total cost and total revenue = T R T C = ($ 5 4 000) + ($ 3 4 000) = $ 8 000 Bubba makes $8,000 in total profits each year.
To learn more about total revenue here
https://brainly.com/question/13000391
#SPJ4
Full Question = Bubba is a shrimp fisherman who catches 4,000 pounds of shrimp per year. He can sell the shrimp for $5 per pound. His average total cost of catching shrimp is $3 per pound. Bubba's annual total profit is:
a. $8,000.
b. $12,000.
c. $20,000.
d. $32,000.
Once her teams goals were set Alyssa asked each team member to come up with a(n)____ to reach her goals.
Answers
Once her team's goals were set Alyssa asked each team member to come up with a(n) action plan to reach her goals.
What is an Action Plan?This refers to the document that shows the list of steps that should be taken by a person in order to achieve or actualize their goals in a methodical manner.
Hence, we can see that based on the fact that the team goals have been set, Alyssa asked her team to form an action plan which was to help them achieve her goals and shows the list of actions and steps to be taken.
Read more about action plans here:
https://brainly.com/question/1717052
#SPJ1
Bob goes to the store to buy food.
Answers
Answer:
We always go to the store to buy food.
Explanation:
Yet somehow come out with a hole new wardrobe, new furniture, and a pet snake. This is because of the store's market. They make prices look phenomenal even if they really aren't great. They make the items look like things that you absolutely cannot live with out. Making you basically buy the whole store!
Hope this helped <3! Brainliest? :)
Plz solve its timed!!!!
Answers
Answer:
A partner deliberately and consistently commits breach of agreements relating to the management of the firm.
Explanation:
The partnership can be dissolved if the partner has breached the agreements that are related to the management of business affairs.