Given the following information for Atlas Travel, prepare a bank reconciliation statement for December 31.
Atlas Travel partial cash ledger (t-account) amounts for December transactions
"Cash Debits/
Deposits" "Cash Credits/
Payments"
$3,725 $9
530 750
980 93
353 134
2,040 960
210
2,250
Atlas Travel had a cash balance of $7,242 on December 31
Atlas Travel received the following bank Statement for December:
Best Bank
Bank Statement for December
Beginning December 1, Balance $4,020
Deposits and other additions:
12/1 $635 EFT
12/5 3,725
12/10 530
12/15 980
12/18 353
12/31 1,800 BC 8,023
Checks and other deductions:
12/8 452 NSF
12/15 (check number 1416) 9
12/19 350 EFT
12/22 (check number 1417) 750
12/29 (check number 1418) 93 EFT is electronic funds transfer
12/31 (check number 1419) 314 BC is bank collection
12/31 45 SC 2,013 NSF is non sufficient funds
December 31 Balance $10,030 SC is service charge
Additional Data:
The EFT deposit was a receipt of rent revenue. The EFT deduction was payment of insurance expense.
The NSF check was received from a customer
The $1800 bank collection was a note receivable
The correct amount of check 1419 is $314. Atlas Travel mistakenly recorded the check for $134
Requirements:
1 Prepare the bank reconciliation.
Atlas Travel
Bank Reconciliation
December 31, 20##
Best Bank Balance, Dec. 31 Atlas Travel Balance Dec 31
Add: Add:
Less: Less:
Adjusted bank balance Adjusted company balance
2 Prepare the two journal entries.
Journal
Date Accounts Post. Ref Debit Credit
Dec. 31
Dec. 31
Answers
A bank reconciliation statement is a report that explains the discrepancies between the bank balance in a company's financial records and the balance recorded in the bank's records. These discrepancies arise as a result of errors in a company's accounting system or banking processes.
Below is the given information for Atlas Travel to prepare a bank reconciliation statement for December 31st:Balance per bank statement $3,670Outstanding checks 2,450Deposits in transit 1,350Interest earned on account 20Bank service charge 25Balance per company's books 2,565
The reconciliation statement is presented below:Atlas Travel Bank Reconciliation Statement for December 31st Balance as per bank statement $3,670 Outstanding checks (2,450)Adjusted bank balance $1,220Add deposits in transit 1,350Adjusted balance $2,570
Deduct bank service charges (25)Add interest earned 20Adjusted book balance $2,565The adjusted bank balance is $1,220, obtained by deducting the outstanding checks from the balance as per the bank statement.The adjusted balance is $2,570, obtained by adding the deposits in transit to the adjusted bank balance.
The adjusted book balance is $2,565, obtained by adding the interest earned and deducting the bank service charges from the balance per company's books.
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Related Questions
You are a mid-level manager at a water distillation and filtration plant that provides five gallon bottles of water to consumers and businesses. Your organization produces three types of water that are marketed:
Distilled bottles (7$/bottle) that are typically used by businesses in the medical and chemical industries
Spring bottles (5$/bottle) that are typically used by consumer households
Artesian bottles (10$/bottle) that are typically used by high-end hospitality businesses
Unfortunately, your production plant suffered a mechanical breakdown. One of the lines is not operational, and therefore one of the specific types of water will not be produced for one month. Recognizing that it is off-season for tourists in your region, your direct manager has decided to stop production of Artesian water. You are tasked with emailing your largest hospitality client, Golden Mango Resort. You must inform them that you will not be able to provide their Artesian water order. It is possible that you may substitute their ordered water for another type of water. How are you going to deliver the bad news?
Answers
The appropriate way to inform the hotel about the breakdown situation of the production plant and the proposal to solve the problem caused to the hotel is by means of a letter in formal and proactive language.
What is a letter?A letter is a term to refer to a means of written communication through which we can send a message to another person. Letters were a means of communication used for much of history. However, in recent years they have been replaced by emails and instant messages.
How to write a formal letter?A formal letter is generally a document that a sender sends to a receiver to formally inform, request or communicate a specific event. Generally, this type of language is used in the workplace between companies, employee - employer, students - teachers, scientists, entrepreneurs or others.
Sample formal letter for Golden Mango ResortSan Francisco, CA. St 7 - 54
October 18, 2022
Margaret Brennan.
Cordial greetings Mrs. Margaret Brennan, I respectfully communicate with you to inform you that in recent days one of our production plants suffered a mechanical breakdown and its repair will take at least a month to return to producing the amount before.
In response to this situation, the directors of our company have made the decision to pause the production of artisanal water bottles that we had been selling to Golden Mango Resort given the low number of tourists in the region. Due to the above, we will not be able to fulfill your request for artisanal water from the last month.
On the other hand, we want to offer you an alternative with our line of spring bottles that are half the value of craft bottles. I apologize in advance for this situation and await your response.
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In collecting information on a family, you learn that the father has been unemployed for nine months; the mother is struggling with diabetes; and the family does not feel supported in the community. With your knowledge as a social worker, to what might these factors lead?
depression
truancy for children
discrimination
substance abuse
Answers
If the mother is struggling with diabetes; and the family does not feel supported in the community. With your knowledge as a social worker, these factors might lead to: A. depression.
What is Depression?Depression can be defined as the way in which a person is often moody or feel sad and this can tend to occur as a result of life experience. A depressed person can begin to disassociated themselves with other in which in turn can have effect on their day to day activities.
Unemployment or Lack of job, struggling with sickness or illness, loneliness among others are some of the factors that can cause depression.
Therefore the correct option is A.
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WBS for the knowledge area of Human/Resource Management for a low-cost housing project
Answers
Here's an example of a WBS for the knowledge area of Human/Resource Management for a low-cost housing project:
The wbs for a knowledge area of Human/Resource Management for a low-cost housing projectHuman/Resource Management
1.1 Staffing Plan
1.1.1 Define project roles and responsibilities
1.1.2 Identify required staffing resources
1.1.3 Determine the project team structure
1.1.4 Develop a staffing plan and budget
1.2 Recruitment and Selection
1.2.1 Create job descriptions and specifications
1.2.2 Advertise and promote job openings
1.2.3 Review resumes and conduct initial screenings
1.2.4 Conduct interviews and select candidates
1.2.5 Perform background checks and reference checks
1.2.6 Extend job offers and negotiate terms
1.3 Training and Development
1.3.1 Assess training needs for project team members
1.3.2 Develop a training plan and schedule
1.3.3 Conduct training sessions and workshops
1.3.4 Provide on-the-job training and mentoring
1.3.5 Evaluate training effectiveness and adjust as needed
1.4 Performance Management
1.4.1 Set performance expectations and goals
1.4.2 Monitor and assess individual and team performance
1.4.3 Provide feedback and coaching to improve performance
1.4.4 Conduct performance appraisals and evaluations
1.4.5 Identify and address performance issues or conflicts
1.5 Resource Allocation
1.5.1 Identify project resource requirements
1.5.2 Allocate resources based on project needs
1.5.3 Monitor resource utilization and availability
1.5.4 Optimize resource allocation to meet project objectives
1.6 Stakeholder Management
1.6.1 Identify project stakeholders and their interests
1.6.2 Develop a stakeholder engagement plan
1.6.3 Communicate and manage stakeholder expectations
1.6.4 Address stakeholder concerns and resolve conflicts
1.6.5 Maintain positive relationships with stakeholders
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Penny Cassidy is considering forming her own pool service and supply company, Penny’s Pool Service & Supply, Inc. (PPSS). She has decided to incorporate the business to limit her legal liability. She expects to invest $31,000 of her own savings and receive 2,000 shares of common stock. Her plan for the first year of operations forecasts the following amounts at December 31, the end of the current year: Cash in bank, $7,000; amounts due from customers for services rendered, $3,400; pool supplies inventory, $5,700; equipment, $29,100; amounts owed to Pool Corporation, Inc., a pool supply wholesaler, $4,600; note payable to the bank, $6,100. Penny forecasts first-year sales of $66,600, wages of $25,100, cost of supplies used $9,300, other administrative expenses of $5,600, and income tax expense of $5,100. She expects to pay herself a $18,000 dividend as the sole stockholder of the company.
If Penny’s estimates are correct, what would the following first-year financial statements look like for Penny’s Pool Service & Supply, Inc.?
Answers
The company's financial performance and position during the first full year of operations are summarized in the financial statements. Sales, costs, investments, liabilities, and stockholder equity all appear to reflect the estimates and facts given.
A shareholder of corporate stock is an individual or legal entity (such as another corporation, a body politic, a trust, or a partnership) that is registered by the corporation as the legal owner stockholder of shares of the share capital of a public or private corporation financial statements (also frequently referred to as a stockholder in the United States).
Members of a company are sometimes used to refer to stockholders.
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Which of the following best illustrates duress? Group of answer choices Bob was to deliver goods worth $500 to Pam on October 1, but failed to do so. Pam tells Bob that unless he pays her $600, which it cost her to obtain goods from another supplier, she will sue him in court. Diana, a real estate agent, brings her car in for repair at Eric's Auto Repair. After examining the car, Eric gives Diana a $500 estimate for the work to be done. Diana needs her car to do her job, so she reluctantly agrees to the repairs. Len has contracted to sell goods to Mel. Knowing that Mel needs the goods to be delivered on a specific date, Len threatens to withhold delivery on that date unless Mel agrees to pay a higher price. Bill persuades his elderly mother to withdraw her life savings from the bank and make an interest-free loan to him.
Answers
Answer:
Len has contracted to sell goods to Mel. Knowing that Mel needs the goods to be delivered on a specific date, Len threatens to withhold delivery on that date unless Mel agrees to pay a higher price.
Explanation:
Duress is when a person enters into an agreement due to threats
Mel had to agree to Len's terms because he threatened to withhold her goods which she needed
The difference between a Long Care Partnership Plan and a Non-Partnership Plan is which of the following?- Pre-existing conditions- Level of benefits- Assets protection- Elimination period
Answers
The difference between a Long Care Partnership Plan and a Non-Partnership Plan is - Assets protection.
What exactly does asset protection entail?Financial planning often includes an asset protection strategy to shield one's assets from creditors' claims. In compliance with debtor-creditor legislation, both private individuals and corporate entities use asset protection strategies to restrict creditors' access to certain valued assets.
Asset protection is a corpus of statutory and common law that deals with defending the assets of people and corporate entities against civil money judgments. It consists of a number of legal strategies. Asset protection planning's objective is to shield assets from claims made by creditors without lying or evading taxes.
What kinds of things are protected assets?Among the most widely used asset protection techniques are limited liability companies, limited family partnerships, asset protection trusts, offshore trusts, tenancy by the entirety, and the transfer of property ownership.
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Reggie, who is 55, had AGI of $35,200 in 2022. During the year, he paid the following medical expenses:
Drugs (prescribed by physicians)
Marijuana (prescribed by physicians)
Health insurance premiums-after taxes
Doctors' fees
Eyeglasses
Over-the-counter drugs
$ 570
1,470
1,280
1,320
445
270
Required:
Reggie received $570 in 2022 for a portion of the doctors' fees from his insurance. What is Reggie's medical expense deduction?
Answers
Reggie's medical expense deduction is $7,276.
AGI, or adjusted gross income, is a person's total income minus certain deductions and is used to calculate taxable income.
Reggie, who is 55 years old, had an AGI of $35,200 in 2022. During the year, he incurred the following medical expenses:
Drugs (prescribed by physicians): $5,701
Marijuana (prescribed by physicians): $1,470
Health insurance premiums-after taxes: $1,280
Doctors' fees: $1,320
Eyeglasses: $445
Over-the-counter drugs: $270
Reggie was reimbursed $570 by his insurance company for a portion of the doctors' fees. To calculate his medical expense deduction, we first need to subtract any reimbursements from his total medical expenses.
Total medical expenses: $5,701 + $1,470 + $1,280 + $1,320 + $445 + $270 = $10,486
Reimbursements: $570
Medical expenses after reimbursements: $10,486 - $570 = $9,916
To claim a medical expense deduction, the expenses must exceed a certain percentage of AGI, which varies depending on the taxpayer's age. For taxpayers who are 65 or younger, the threshold is 7.5% of AGI. For taxpayers who are over 65, the threshold is 7%.
Since Reggie is 55 years old, the threshold is 7.5% of his AGI or $35,200 x 0.075 = $2,640.
Therefore, Reggie can deduct the portion of his medical expenses that exceed $2,640.
Amount of medical expenses that exceed the threshold: $9,916 - $2,640 = $7,276
Therefore, Reggie's medical expense deduction is $7,276.
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A company has the following information available for the year ending December 31, 2019:_______.
Service Revenue $91,300
Operating Expenses $52,900
Gain on Sale of Land $32,000
Loss on Sale of Equipment ($2,000)
Retained Earnings, 12/31/2019 $100,000
Dividends declared in 2019 $22,000
Required:
Calculate the company's (A) net income or loss for the year ending December 31, 2019 and (B) the balance in Retained earnings on January 1, 2019, the beginning of the fiscal year.
Answers
Answer:
a. $4,400
b. $117,600
Explanation:
The computation of the net income or loss for the year is shown below:
= Service revenue + gain on sale of land - operating expenses - loss on sale of equipment
= $91,300 + $32,000 - $52,900 - $2,000
= $4,400
Now the beginning retained earning balance is
As we know that
Ending retained earning balance = Opening retained earning balance + net income - dividend paid
$100,000 = Opening retained earning balance + $4,400 - $22,000
So,
The Opening retained earning balance
= $100,000 + $22,000 - $4,400
= $117,600
Answer:
2019
Explanation:
As the wealthiest nation in the world, why do you think so many Americans are struggling with money problems?
Answers
Answer:
It costs a lot to live in America. For places like in Silicon Valley, it is very expensive depending on where you live. There is also high demand for jobs, just because a country is wealthy does not mean there is infinite jobs giving money out by the handfuls. Many do not have jobs, and as a result are struggling with money.
Explanation:
you have two equal investments that always have exactly opposite returns. how will your total value of both investments vary over time?
Answers
Answer:
it will stay the say
Explanation:
lol
Josh buys an $8000 10-year bond that has a coupon rate of 4.5 %. If he keeps the bond to maturity, how much interest will he collect?
Answers
Josh will collect $3600 in interest if he keeps the $8000 10-year bond with a 4.5% coupon rate to maturity.
To calculate the interest that Josh will collect from the 10-year bond with an $8000 face value and a coupon rate of 4.5%, we need to consider the annual interest payment and the total number of interest payments over the bond's lifespan.
The annual interest payment can be calculated by multiplying the face value of the bond ($8000) by the coupon rate (4.5%). This gives us an annual interest payment of $360 (8000 * 0.045).
Since the bond has a 10-year maturity, there will be a total of 10 interest payments over its lifespan. Therefore, the total interest Josh will collect can be calculated by multiplying the annual interest payment ($360) by the number of interest payments (10).
Total interest = Annual interest payment * Number of interest payments
Total interest = $360 * 10
Total interest = $3600
Therefore, if Josh keeps the bond to maturity, he will collect a total of $3600 in interest over the 10-year period.
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What type of information is required on a 1040EZ form? (Select the best answer.)
A. Your gross and net income for the previous year
B. A financial projection for the next year
C. Your bank statements from the previous year
D. A list of each purchase made in the previous year
Answers
Answer:
A. your gross and net income for the previous year.
Explanation:
took the test.
Cynthia is interested in investing in Clothing Unlimited Inc. Which attribute from the stock quote can Cynthia use to determine how the stock has performed over the past year?
A. current price
B. net change
C. open price
D. a positive or negative result for the one-year change
E. previous close price
Answers
Answer:
D. a positive or negative result for the one-year change
Explanation:
The most relevant parameter of a stock's performance is the stock's returns. If a stock has been consistent in producing good returns, the past financial year's results play a big role in determining whether to invest in its stock or not.
If Cynthia is interested in investing in Clothing Unlimited stock, she needs to look at its past performances and compare it with lay year's results. If the stock has been yielding consistent positive results, there is a big possibility that the trend will continue into the future.
Answer:
Cynthia is interested in investing in Clothing Unlimited Inc. Which attribute from the stock quote can Cynthia use to determine how the stock has performed over the past year?
A.
current price
B.
net change
C.
open price
D.
positive or negative result for the one-year change
E.
previous close price
Explanation:
Economic demand is?
A. the amount of a good or service that consumers are willing and able to buy at one price.
B. the amount of a good or service that consumers are willing and able to buy at various prices.
C.the amount of a good or service that producers are willing and able to produce at various prices.
D. the amount of a good or service that consumers are willing but not able to buy at various prices.
Which of the following is correct?
Answers
The correct answer is B. Economic demand is the amount of a good or service that consumers are willing and able to buy at various prices.
It reflects the relationship between the price of a product and the quantity that consumers are willing to purchase at that price. Demand is influenced by factors such as price, consumer preferences, income levels, and availability of substitutes.
As the price of a product decreases, the quantity demanded generally increases, and vice versa, following the law of demand. The demand curve represents this relationship, showing the quantity of a good or service that consumers are willing and able to buy at different price points.
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Which is the primary characteristic of all physical and digital sales channels?
A: Market dominance
B: Branding
C: Closing sales
Answers
Which of the following can be the USP of an airline company? can be the USP of an airline company?
A.
we care the most
B.
on time performance, lowest fares
C.
we love our customers
D.
we understand your needs
Answers
Answer:
B
Explanation:
airplanes have a time of arrival and time hey take off so they care the most about arriving on time
Answer:
B
Explanation:
I took the test!
The advantage of using a safe deposit box at a financial institution is that it is protected by the financial institution’s security system, which usually provides greater protection than the security systems of a private home. Group of answer choices False True
Answers
Answer:
True
Explanation:
The biggest advantage of keeping deposits at financial institutions is that they receive more protection in comparison to the security systems of a private home. Hence, the given statement is true.
What is a financial institution?Also known as the banking institutions, financial institutions or FI is a kind of business entity that provides and deals in various types of financial monetary transactions. Basically, a financial institution is a company that deals in the activities such as deposits, loans, investments, and currency exchange. The customers of these institutions are the individuals and businesses who need them.
There are some common types of financial institutions, they are commercial banks, brokerage firms, insurance companies, and investment banks. In the given types of institutions, there are sub-categories also. They are central banks, retail and commercial banks, internet banks, credit unions, savings, and loans associations, investment banks, and many more.
Thus, the given statement is correct.
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The final phase of the systems development life cycle is systems ________. Select one: a. implementation b. maintenance c. operation d. design e. analysis
Answers
Answer:
b. maintenance
Explanation:
The systems development life cycle contains 5 steps i.e.
1. Planning
2. Analysis
3. Design
4. Implementation
5. Maintenance
The final phase is the maintenance & required regular updated. It occurs when the end users could fine the system in the case when they want to increase the performance, or add new capabilities or meeting extra user requirements so it can be done under this step
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Type the correct answer in the box. Spell all words correctly.
Which source of funds refers to the money raised by corporations through stock markets?
_______ refers to the money raised by corporations through stock markets?
Answers
Answer:
Equity Capital or equity funding refers to the money raised by corporations through stock markets
Explanation:
Answer: Capital Market
Explanation: plato
Exercise 153Chetola Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 15% stock dividend on June 1 when the market price per share was $13. The shares were issued on June 30.Prepare the necessary entries for the declaration and payment of the stock dividend.
Answers
Answer and Explanation:
The journal entries are shown below:
On June 1
Stock dividend (120000 × 15% × $13) $234,000
To Common Stock dividend distributable (120000 × 15% × 5) $90,000
To Paid in capital in excess of par-Common Stock $144,000
(being stock dividend declared is recorded)
On June 30
Common Stock dividend distributable $90,000
To Common Stock $90,000
(Being the payment of stock dividend is recorded)
What are the advantages of a presentation
Answers
Answer:
THE PERSON BELOW ME IS CORRECT
Explanation:
Answer:
people will get the idea more... and you could show stattistics for them/people you are showing the presentation they could be on the wrong side but you show ur presentation and boom their on the right side
Explanation:
what are two nonmarket ways of distributing goods and services
Answers
Answer: Rationing and Black Market
Verbal/linguistic learners prefer learning activities that involve reading, writing, and speaking.
False
True
Answers
Answer:
I would assume it is true
Explanation:
Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.9 customers arrive each hour. One design consultant is available to answer customer questions and make product recommendations. The consultant averages 10 minutes with each customer.
A. Compute the operating characteristics of the customer waiting line, assuming Poisson arrivals and exponential service times. If required, round your answers to four decimal places.
Lq =
L =
Wq = hours
W = hours
Pw =
B. Service goals dictate that an arriving customer should not wait for service more than an average of 6 minutes. Is this goal being met? If not, what action do you recommend? Yes or No
C. If the consultant can reduce the average time spent per customer to 8 minutes, what is the mean service rate? If required, round your answer to one decimal place.
------ customer per hour
Will the service goal be met? Yes or No
Answers
A. Operating characteristics:
Lq ≈ 0.5017, L ≈ 0.9377, Wq ≈ 0.1730 hours, W ≈ 0.5063 hours, Pw ≈ 0.4833
B. Service goal: Not met. Action recommended.
C. Mean service rate: 7.5 customers/hour.
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes).
A. To compute the operating characteristics of the customer waiting line:
Arrival rate (λ) = 2.9 customers/hour
Service rate (μ) = 60 minutes / 10 minutes per customer = 6 customers/hour
Average number of customers in the queue (Lq):
Lq = (λ^2) / (μ * (μ - λ)) ≈ 0.5017
Average number of customers in the system (L):
L = λ / (μ - λ) ≈ 0.9377
Average waiting time in the queue (Wq):
Wq = Lq / λ ≈ 0.1730 hours (approximately 10.38 minutes)
Average waiting time in the system (W):
W = Wq + (1 / μ) ≈ 0.5063 hours (approximately 30.38 minutes)
Probability of a customer waiting in the queue (Pw):
Pw = λ / μ ≈ 0.4833
B. The service goal is that an arriving customer should not wait for service more than an average of 6 minutes. However, the average waiting time in the system (W) is approximately 30.38 minutes, exceeding the goal. Therefore, the service goal is not being met.
Action recommendation: To meet the service goal, I would recommend taking the following actions:
Increase staffing: Hire additional design consultants to handle customer questions and product recommendations.
Improve efficiency: Streamline processes and provide training to the consultant to reduce the time spent with each customer.
Appointment scheduling: Implement a system for customers to schedule appointments, ensuring dedicated time slots for each customer and minimizing waiting times.
Self-service options: Provide self-service resources or online tools where customers can access basic information and make preliminary decisions, reducing the need for extensive consultations.
C. If the consultant can reduce the average time spent per customer to 8 minutes, the mean service rate can be calculated as follows:
Mean service rate (μ) = 60 minutes / 8 minutes per customer ≈ 7.5 customers/hour
Will the service goal be met? Yes
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes). This is less than the service goal of 6 minutes, so the goal will be met.
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Malcolm Phillips is a sole trader who prepares his accounts annually to 30 April. His summarised balance sheets for the last two years are shown below.
Balance Sheets as at 31 April
20X8 20X9
££ £££ £
Fixed assets 15,500 18,500
Less Provision for depreciation ( 1,500) ( 1,700)
14,000 16,800
Current assets
Stocks 3,100 5,900
Trade debtors 3,900 3,400
Bank 1,500 –
8,500 9,300
Current liabilities
Trade creditors 2,000 2,200
Bank overdraft – 900
(2,000) (3,100)
6,500 6,200
20,500 23,000
Represented by
Capital account:
Balance at 1 May 20,000 20,500
Add Net profit for the year 7,000 8,500
Additional capital introduced – 2,000
27,000 31,000
Less Drawings ( 6,500) ( 8,000)
20,500 23,000
Malcolm is surprised to see that he now has an overdraft, in spite of making a profit and bringing
in additional capital during the year.
Questions:
(a) Draw up a suitable financial statement which will explain to Malcolm how his overdraft has
arisen.
(b) The following further information relates to the year ended 30 April 20X9.
£
Sales (all on credit) 30,000
Cost of sales 22,500
Calculate Malcolm’s
(i) gross profit margin
(ii) rate of stock turnover
Answers
a. Malcolm's gross profit margin is 25%.
b. Malcolm's rate of stock turnover is 5 times.
To calculate Malcolm's gross profit margin and rate of stock turnover:
(i) Gross Profit Margin:
Gross Profit = Sales - Cost of Sales
Gross Profit = £30,000 - £22,500 = £7,500
Gross Profit Margin = (Gross Profit / Sales) * 100
Gross Profit Margin = (£7,500 / £30,000) * 100 = 25%
Malcolm's gross profit margin is 25%.
(ii) Rate of Stock Turnover:
Stock Turnover = Cost of Sales / Average Stock
Average Stock = (Opening Stock + Closing Stock) / 2
Average Stock = (£3,100 + £5,900) / 2 = £4,500
Stock Turnover = £22,500 / £4,500 = 5 times
Malcolm's rate of stock turnover is 5 times.
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A doctor and a produce stocker can expect to need the same amount of college
education.
True
False
Answers
Answer:false
Explanation:
Doctors tuition is more expensive bc they learn more.
Answer:
That is false
Explanation: I had this same question for an exit ticket.
What appeals to you about photography? Is it the creative process of setting up
photographs? Or are you more interested in the various functions and settings that you
can control with your camera? Explain and discuss what aspects of photography
interest you and why, as well as what, you are interested to learn more about.
Answers
As was already mentioned, image appeal in photography can be summed up as the interest that a photograph arouses in viewers other than the photographer. The adjective "appealing" is typically defined in the American Heritage Dictionary (2005) as being lovely or beautiful.
In terms of creativity and idea exploration through photos, photography is a sort of art, but in order to produce truly excellent images, you must set up a strategy for your personal growth that is particularly focused on your abilities, motivation, purpose, and output.
Ensuring that there is a balance and that your photographs are not susceptible to underexposure or overexposure in order to create great images.
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2. In 2020, Leon Longrove sold a piece of business equipment that had an adjusted basis to him of $50,000 for $75,000 cash plus artwork that had a fair market value of $25,000. The buyer assumed Leon's $20,000 loan on the equipment. Leon paid $5,000 in selling expenses. What is the amount of Leon's gain on the sale
Answers
Answer:
Leon's gain = $65,000
Explanation:
Total consideration received by Leon = $75,000 (cash) + $25,000 (artwork) + $20,000 (loan assumed by buyer) = $120,000
Leon's total costs = $50,000 (equipment's basis) + $5,000 (selling expenses) = $55,000
Leon's gain = total consideration received - total costs = $120,000 - $55,000 = $65,000
Many unethical behaviors lead to the passage of legislation that makes those
behaviors legal.
TRUE OR FALSE
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These unethical behavior examples help identify what is not considered These are just some of the many different examples of unethical behavior that could occur. Double standard which makes it unethical and causes a black eye to law .In verse 14 it says Truth has fallen in the public squares (KJ says streets. So true
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With perfect price discrimination, the marginal revenue curve
A) is equal to the demand curve.
B) is below the demand curve. C) is above the demand curve.
D) is horizontal.
Answers
Answer: b
Explanation: Because the monopolist must lower the price on all units in order to sell additional units, marginal revenue is less than price. Because marginal revenue is less than price, the marginal revenue curve will lie below the demand curve.